Popeyes-20 Year NNN Lease-Miami

9490 West Okeechobee Road, Hialeah Gardens, FL 33016

$2,975,000

Cap Rate 5.00%

Views: 9 DOM: 6 Updated: 03.05.25 Posted: 03.03.25 Status: Active 03.05.25

Summary

Price $2,975,000	Built/Renov 2003/2023	Tenant Popeyes-20 Year NNN Lease-Miami
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 3	Lease Start 01-01-2024	#Units 4,571
Price/SF $963.00	Expiration 12-31-2043	Tenant Type Fast Food/QSR
NOI $148,750	R. Term 18.10	Ownership Fee Simple
Rent/SF $0.00	Increases 10.0%/5/yrs	Pop 5Mi 381,391
Lot/AC 0.54	Options 2/5yrs/10%	AHHI 5Mi $73,941

Scott Sandelin

Marcus & Millichap

Contact

Lease Highlights

Long Term Lease – 19 Years Remaining
Absolute NNN Lease – Zero Landlord Obligations
Great Access & Visibility – Adjacent to W Okeechobee Rd – 64,000+ VPD
Top Performing Popeyes – Ranked #575 of 2,609 Locations (Top 77th Percentile)
Significant Tenant Investment – Building Renovated & Reimaged by Franchisee
Popeye’s Franchisee Has More Than 33 Years of Experience

Location Description

Marcus & Millichap is pleased to present a prime investment opportunity located at 9490 W Okeechobee Rd, Hialeah Gardens, FL. The asset is subject to a long-term lease with Popeyes Louisiana Kitchen. The asset consists of a 3,087 square foot building on a 23,392 SF parcel of land. This property is underpinned by a solid absolute net lease to a renowned brand, guaranteed by an experienced...

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Key Features

Recent renovation
High traffic 50M+ VPD
WalMart out-parcel
Strategically located
Highway close
Income tax free state
Long 20+ yr lease
Absolute NNN
Top performing store
Personal guarantee

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Links

Popeyes Wikipedia Popeyes Wikipedia Hialeah Gardens, Florida Zip Code 33016 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Popeyes
Guarantor:Franchisee
Company:Personal Guarantee
# Units:4,571
Tenant S&P: BB
Stock: NYSE: QSR

About Tenant

This location’s franchisee, Metro Chicken, also operates 12 other stores located in Lauderhill, Pompano Beach, Hollywood, Oakland Park & Pembroke Pines, Florida. Metro Chicken’s CEO has been with...

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Listing Broker

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