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28367129
28367131

2123 Crawfordville Hwy, Crawfordville, FL 32327

EW
FL CQ1057427
Acropolis Commercial Advisors LLC
Listed by Acropolis Commercial Advisors LLC
$2,400,000
72 days on market
Updated 72 days ago

Popeyes | Absolute NNN Lease

Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant (+1)
Square Footage 2,179
Cap Rate 5.5%
NOI $132,000
Occupancy 100%
Tenancy Single
Brand/Tenant Taco Bell, Burger King (+4)
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 09/28/2040
Remaining Term 14.3
Rent Bumps Yes
Lease Options Three (3), Five-Year
Price per SqFt $1,101
Year Built 2020
Buildings 1
Stories 1
Acreage 1.000
Investment Type Net Lease
Lease Commencement 09/29/2020
Ownership Fee Simple

#2 Largest Popeyes Franchisee | 25 Min to Tallahassee

Marketing description

  • Long-Term Absolute NNN Lease

    • 10% Rental Increases Every 5 Years

  • #2 Largest U.S. Popeyes Franchisee

    • 130+ Locations | 2,200+ Employees

  • Main Thoroughfare

    • U.S. Highway Location

  • On the “Going-to-Work” Side

    • Within 25 Min of Tallahassee

  • Strong Retail Synergies

    • Adjacent to the Only Walmart Supercenter Within 20 Miles

  • $110,000+ Average Household Income

    • Situated Amongst Rooftops & All Local Schools

Investment highlights

Long-Term Absolute NNN Lease | 10% Rental Increases | Established Popeyes Franchisee

  • The Property is subject to a long-term Absolute NNN lease, which provides for attractive 10% rental increases and zero landlord responsibilities.

  • The store is operated by one of the largest Popeyes franchisees in the system with over 130+ locations and more than 2,200 employees.

Major US Highway Location | 25 Min to Tallahassee

  • The Property is strategically situated along U.S. Highway 319 locally known as Crawfordville Highway 287, the only major north/south thoroughfare in the area and which is used by both residents and those traveling from U.S. Highway 98.

  • Tallahassee is less than 25 minutes away and is directly accessible via U.S. Hwy 319. Tallahassee is home to the largest area employers and almost all of Callaway’s residents are likely to pass by the Property when travelling to and from the state capital.

  • The Property features ingress and egress on U.S. Hwy 319 as well as cross easement access via neighboring Waffle House and Hungry Howie's Pizza & Subs locations.

Prime Positioning on Main Retail Corridor | Consistent Traffic Flow

  • The Property is situated amongst the vast majority of Crawfordville’s national retailers, further lending to the Property’s prime positioning and ensuring consistent traffic flow.

  • Neighboring retailers and national users include Walmart Supercenter, Publix, ALDI, Whistle Express Car Wash, Tractor Supply, Starbucks, and more.

Strong Average Household Income | Situated Amongst Rooftops | Local Schools

  • The Property benefits from being in close proximity to numerous multi-family and single-family communities. In addition, area residents boast average household incomes exceeding $100,000 within a 1-, 3-, and 5-mile radius, providing for greater disposable income. Within 5 minutes of the Property are The Cypress at Wesley Park (71 multi-family units), Hamptons of Wakulla (100 multi-family units), Summerfield by D.R Horton (184 single-family homes), Misting Springs by D.R Horton (228 single-family homes), and many others.

  • The Property is within 15 minutes of all local Crawfordville schools which include Shadeville Elementary (648 students), Crawfordville Elementary (659 students), Riversprings Middle (529 students), and Wakulla High (1,386 students), in addition to numerous others.

Listing Contacts

EW
FL CQ1057427
Acropolis Commercial Advisors LLC
Listed by Acropolis Commercial Advisors LLC

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$132,000.00
$11,000.00/mo

Valuation Metrics

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DSCR
5.5%
Cap Rate
5.5%
ROI

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