Popeyes

3340 Sheridan Road, Zion, IL 60099

$2,666,666

Cap Rate 6.00%

Views: 149 DOM: 238 Updated: 08.12.24 Posted: 04.09.24 Status: Active

Summary

Price $2,666,666	Built/Renov 2023	Tenant Popeyes
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 2,163	Lease Start 07-01-2024	#Units 50
Price/SF $1,232.86	Expiration 06-30-2044	Tenant Type Fast Food/QSR
NOI $160,000	R. Term 19.7	Ownership Fee Simple
Rent/SF $73.97	Increases 7.5%/5/yrs	Pop 5Mi 101,268
Lot/AC 1.58	Options 6/5yrs/7.5%	AHHI 5Mi $86,086

Isaiah Harf

Northmarq

Contact

Lease Highlights

Brand-new 2023 construction
Popeyes will be executing a brand-new 20-year lease with 6 (5-year) options to extend
The lease features 7.5% rental escalations throughout the initial term and option periods
Absolute NNN | Zero landlord responsibilities
Personal guarantee | Inquire with Broker for details

Location Description

Popeyes is strategically located on Sheridan Road, the primary north/south thoroughfare with access to 22,900 vehicles passing by daily. The property is situated within a strong retail corridor, surrounded by well-known national tenants including Dollar Tree, McDonald’s, Casey’s, Wendy’s, ALDI, and AutoZone, and more. Moreover, it is conveniently situated less than a mile from Illinois Beach...

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Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Brand new lease
Long 20+ yr lease
Absolute NNN
50+ unit franchisee backed

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Links

Popeyes Wikipedia Popeyes Wikipedia Zion, Illinois Zip Code 60099 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Popeyes
Guarantor:Franchisee
Company:Franchisee
# Units:50
Tenant S&P: BB
Stock: NYSE: QSR

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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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	9,567	41,870	98,799
2023 Total Population :	9,500	42,448	100,454
2023 Employed Civilian Pop :	4,131	20,342	48,836
2023 Total Businesses :	201	784	2,055
2023 Average Household Income :	$ 63,785	$ 84,029	$ 86,322
2023 Total Consumer Spending :	$ 194 M	$ 1086 M	$ 2683 M
2023 Median Age :	39	36	35
2023 Total Households :	3,515	14,973	35,994
2023 Pop Age 25+: Bachelor's Degree :	769	3,473	9,003
2023 Average Home Value :	$ 156,767	$ 192,422	$ 223,428

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
33rd St	Sheridan Rd	2011	3,850	0.10 mi
IL 137		2021	18,200	0.15 mi
Sheridan Rd	W Wadsworth Rd	2013	19,400	0.26 mi
W Wadsworth Rd	Sheridan Rd	2011	7,650	0.30 mi
Sheridan Rd	W Wadsworth Rd	2013	16,300	0.32 mi
W Wadsworth Rd	Sheridan Rd	2011	850	0.38 mi
North Sheridan Road	W Paxton Dr	2019	18,800	0.44 mi
Sheridan Rd	29th St	2013	19,400	0.58 mi
29th St	Caledonia Blvd	2011	275	0.60 mi
Sheridan Rd		2021	17,700	0.60 mi

Listing Broker

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