Popeyes
Popeyes | $2,482,000 | 5.85% CAP | Long-Term NNN Lease | Atlanta MSA
Marketing description
This investment offering presents the opportunity to acquire a free-standing Popeyes restaurant located north of Atlanta in Smyrna, Georgia, within the highly desirable Cobb County submarket of metro Atlanta. The property is leased to GPS Hospitality Ventures, an experienced franchise operator (over 400 restaurants), with a long-term absolute NNN lease, providing passive income with no landlord responsibilities.
The lease commenced in 2013 with an initial 20-year term and includes three x five-year renewal options. Rental increases occur every five (5) years, including during the option periods, providing built-in income growth over the life of the lease. The offering includes ownership of the real estate (not a ground lease), allowing the investor to benefit from depreciation of the building.
Investment highlights
Popeyes is a globally recognized and fast-growing QSR brand with strong international brand loyalty - over 4,000 restaurants globally.
Leased to GPS Hospitality Ventures, LLC, an experienced and proven Popeyes, Burger King, and Pizza Hut franchisee operator with over 400 restaurants in 12 states.
Long-term Absolute NNN lease ending in 2033, with rent increases every five years, and three x five-year renewal options - the restaurant was remodeled in 2015
Freestanding restaurant with fee-simple real estate ownership, providing depreciation benefits - large corner lot.
Highly visible location north of Atlanta along South Cobb Drive, a major commercial corridor in Smyrna and greater Cobb County, with 31,000 cars passing per day.
Strong Atlanta suburban infill market with dense surrounding residential neighborhoods.
96,356 residents within 3 miles and 238,818 residents within 5 miles, both projected to grow - average household incomes ranging from $117,840 to $129,428.
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