Popeyes
Retail | 6.25% CAP | 2,599 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Popeyes located at 14274 University Ave, Hammond, LA 70401. The site consists of roughly 2,599 rentable square feet of building space on an estimated 0.31-acre parcel of land. This Popeyes is subject to a 25-year Triple Net (NNN) lease which will commence upon close of escrow. The annual rent will be $135,987 and has scheduled increases of 1.75% annually.
Investment highlights
Strong Franchisee Guarantee | The guarantor, High Noon Restaurant Group, is well known and respected in the quick-service restaurant industry. The Franchisee operates over 100 units across Louisiana and Mississippi. They pride themselves on providing customers with exceptional customer service, sanitized restaurants, and convenient and timely meal preparation.
Rare, 25-Year, Absolute Triple-Net (NNN) Sale-Leaseback | This Popeyes will be subject to a brand new 25-year triple-net (NNN) lease which will commence upon close of escrow. The lease will feature attractive rental increases of 1.75% annually providing a hedge against inflation.
Strong Unit-Level Financials | This Popeyes location has experienced exceptional unit-level performance since its opening. Please reach out to the listing agents for further details.
Proximity to Southeastern Louisiana University | This Popeyes is located 1.4 miles from Southeastern Louisiana University, which houses 14,440 students, producing high levels of foot traffic in the immediate area.
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