Popeyes
Retail | 6.25% CAP | 2,599 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Popeyes located at 700 N Canal Blvd, Thibodaux, LA 70301. The site consists of roughly 2,599 rentable square feet of building space on an estimated 1.33-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 $184,892 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.
Strong Underlying Real Estate | The subject property benefits from being located directly on the intersecting corner of N Canal Blvd & Forty Arpent Rd. The real estate provides driveway entrances from both intersecting roads, giving the tenant exceptional visibility and accessibility to an array of potential customers each day.
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