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Views: 59 DOM: 51 Updated: 10.31.24 Posted: 10.31.24 Status: Active

Summary

Price $1,993,000
Built/Renov 1974
Tenant Popeyes
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,627
Lease Start 05-01-2008
#Units 219
Price/SF $758.66
Expiration 04-30-2028
Tenant Type Fast Food/QSR
NOI $119,603
R. Term 3.4
Ownership Fee Simple
Rent/SF $45.53
Increases 1.0%/1/yrs
Pop 5Mi 1,192,270
Lot/AC 0.31
Options 2/5yrs/1%
AHHI 5Mi $137,977

Lease Highlights

  • The tenant has over 3 years of firm term remaining with 2 (5-year) options to extend
  • The lease features 1% annual rental increases throughout the initial term and options
  • Absolute NNN lease | Zero landlord responsibilities
  • The lease is guaranteed by Dhanani Group, an established operator with over 500 operating restaurants
  • Dhanani Group is currently the world’s largest QSR franchisee for Popeyes

Location Description

Popeyes is strategically located at the signalized, hard corner intersection of Addison Street and Western Avenue, with access to a substantial combined daily traffic count of 61,600 vehicles. Western Avenue, the longest continuous street in Chicago at 23.5 miles, intersects with Addison Street, which connects to the northern section of Roscoe Village, making this a highly accessible location...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Popeyes Louisiana Kitchen, Inc., also known as Popeyes, is an American multinational chain of fried chicken fast food restaurants founded in 1972 in New Orleans, LA. Popeyes distinguishes itself...


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Listing Broker

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