Popeyes

NNN Pro is pleased to present the exclusive listing for a Popeyes located at 1680 N 1st Street, Hermiston, OR 97838.​ The site consists of roughly 2,536 rentable square feet of building space on an estimated 0.82-acre parcel of land.​ This Popeyes is subject to a 20-year Triple Net (NNN) lease, which commenced 6/1/2023.​ The current annual rent is $215,000 and has scheduled increases of 1.75% Annually Starting Year 7.​

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  Absolute Triple Net (NNN) Lease | This investment property boasts an absolute triple net (NNN) lease, providing investors with a highly advantageous structure that eliminates any landlord responsibilities. Under this arrangement, the tenant is responsible for all operating expenses, including property taxes, insurance, and maintenance costs, ensuring a predictable income stream for the owner.

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  New Construction | The subject investment property is a newly constructed facility that opened for business in December 2023. This modern build features state-of-the-art design and amenities, ensuring it meets the latest standards for both functionality and aesthetic appeal. With fresh construction, the property benefits from improved energy efficiency and reduced maintenance concerns.

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  Strong Franchisee Guarantee | The subject investment property features a lease guaranteed by Ambrosia QSR, a reputable franchisee with a robust track record in the fast-food industry. Operating over 200 locations of well-known brands such as Popeyes, Burger King, and Arby's throughout the Pacific Northwest, Ambrosia QSR brings significant operational expertise and financial stability to this investment. The guarantor entity is 150+ units until certain thresholds are met (see page 6) when the guaranty is replaced by Ambrosia QSR II.

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  Long -Term Lease with Annual Rental Increases Starting Year 7 | The subject investment property is secured by a long-term lease that includes annual rental increases, offering a strategic hedge against inflation. This structure not only ensures a steady and predictable income stream over an extended period but also allows for consistent revenue growth as rental rates adjust each year.