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Views: 27 DOM: 21 Updated: 10.31.24 Posted: 10.31.24 Status: Active

Summary

Price $2,394,000
Built/Renov 1986/2024
Tenant Popeyes
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,047
Lease Start
#Units 11
Price/SF $785.69
Expiration 03-31-2030
Tenant Type Fast Food/QSR
NOI $143,637
R. Term 0.00
Ownership Fee Simple
Rent/SF $47.14
Increases 15.0%/5/yrs
Pop 5Mi 246,044
Lot/AC 1.31
Options 2/5yrs/15%
AHHI 5Mi $134,779

Lease Highlights

  • The tenant has over 5 years of firm term remaining with 2 (5-year) options to extend
  • The lease features rare 15% rental increases every 5 years throughout the initial term and options
  • Absolute NNN lease | Zero landlord responsibilities
  • The lease is guaranteed by an individual franchisee (11-unit operator)
  • This location’s sales performance has historically been well over Popeyes’ average unit volume

Location Description

Popeyes is strategically located at the signalized, hard-corner intersection of W. Army Trail Road and Gary Avenue, the primary retail corridor with access to a substantial combined daily traffic count of 75,900 vehicles. The property sits within a dense retail trade area with direct access to major shopping centers such as Bloomingdale Court and Stratford Crossing. Nearby national tenants...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Popeyes
  • Guarantor:Franchisee
  • Company:Franchisee
  • # Units:11
  • 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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Listing Broker

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