Popeyes

517 West 3rd Street, Pembroke, NC 28372

$2,708,000

Cap Rate 6.00%

Views: 63 DOM: 133 Updated: 08.31.24 Posted: 07.10.24 Status: Active

Summary

Price $2,708,000	Built/Renov 2024	Tenant Popeyes
Cap Rate 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 1,992	Lease Start 08-10-2024	#Units 8
Price/SF $1,359.44	Expiration 08-31-2039	Tenant Type Fast Food/QSR
NOI $162,500	R. Term 14.9	Ownership Fee Simple
Rent/SF $81.58	Increases 10.0%/5/yrs	Pop 5Mi 19,652
Lot/AC 0.88	Options 3/5yrs/10%	AHHI 5Mi $59,529

David Hoppe

Atlantic Capital Partners

Contact

Lease Highlights

Brand-new 2024 construction
New 15-year lease with 3 (5-year) options to extend
The lease features 10% rental escalations throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by Polo Restaurant Group ( 8 units backed)

Location Description

Popeyes is strategically located on W. 3rd Street, with access to 15,500 vehicles passing by daily. The property is surrounded by well-known national tenants, including Jersey Mike's, Circle K, McDonald’s, Burger King, and more. Additionally, it is less than half a mile from UNC Pembroke, which serves over 7,500 students and 420+ faculty members across 8 different colleges and schools. The...

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Key Features

New construction
Build to suit
Dense retail corridor
Near major nationals
Strategically located
Major MSA
Brand new lease
Long 15+ yr lease
Absolute NNN
Personal guarantee

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Links

Popeyes Wikipedia Popeyes Wikipedia Pembroke, North Carolina Zip Code 28372 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Popeyes
Guarantor:Franchisee
Company:Polo Restaurant Group
# Units:8
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
2029 Total Population :	4,467	10,958	19,290
2024 Total Population :	4,617	11,227	19,652
2024 Employed Civilian Pop :	1,303	3,797	6,845
2024 Total Businesses :	262	366	527
2024 Average Household Income :	$ 47,344	$ 57,967	$ 59,529
2024 Total Consumer Spending :	$ 51 M	$ 198 M	$ 372 M
2024 Median Age :	24	29	33
2024 Total Households :	1,204	3,760	6,859
2024 Pop Age 25+: Bachelor's Degree :	376	1,093	1,822
2024 Average Home Value :	$ 194,118	$ 161,159	$ 149,580

*ESRI data is presented for informational purposes only

Listing Broker

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