Popeyes
Retail | 6.25% CAP | 3,013 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Popeyes located at 401 Tate Cove Rd, Ville Platte, LA 70586. The site consists of roughly 3,013 rentable square feet of building space on an estimated 1-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 $106,201 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.
Dense Retail Corridor | The subject property benefits from its strategic location, positioned within a dense retail corridor and surrounded by many local and national tenants. Notable national tenants in the area include Walmart Supercenter, McDonald’s, O’Reilly Auto Parts, Dollar Tree, Stage, Hibbett Sports, and many more.
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