Single Tenant Popeyes with Drive-Thru
BRAND NEW CONSTRUCTION | NNN GROUND LEASE | LONG-TERM LEASE (19+ YEARS)
Marketing description
Forged Real Estate exclusively offers the fee simple interest in a single-tenant Popeyes Louisiana Kitchen property in Easton, Pennsylvania. Currently under construction with an anticipated April 2026 opening, the asset is secured by a triple-net (NNN) ground lease that commenced June 2, 2025, with 19+ years remaining and 10% rent increases every five years, providing stable, passive income and long-term growth.
The location is operated by AR Group of Restaurants, Inc., a seasoned franchisee with 130+ Popeyes, Taco Bell, and Dunkin’ units across the Mid-Atlantic. The property sits on a 1.41-acre parcel at the signalized intersection of Eastgate Blvd and Easton–Nazareth Hwy (PA-248), near PA-33, offering strong visibility, 15,000+ VPD, a drive-thru, and excess land for future flexibility. The 5-mile trade area includes approximately 131,000 residents and affluent demographics, with average household incomes exceeding $126,000.
Founded in 1972 and acquired in 2017 by Restaurant Brands International, Popeyes operates 3,500+ locations across the U.S. and Canada, backed by one of the world’s largest QSR platforms with 33,000+ restaurants globally.
Investment highlights
SIGNALIZED CORNER LOCATION OFF PA-33 (63,000 VPD) - The property is ideally positioned at the corner of the signalized intersection of Eastgate Blvd and Easton-Nazareth Hwy/PA-248 (15,000 VPD), just seconds from PA-33 (63,000 VPD), providing exceptional visibility, access, and traffic exposure.
LARGER PARCEL SIZE WITH FUTURE OPTIONALITY - Situated on a substantial 1.41-acre parcel, the property provides meaningful excess land that enhances long-term value and downside protection. The larger site allows for future redevelopment, expansion, or re-tenanting opportunities.
LONG TERM LEASE (19+ YEARS) WITH 10% RENTAL INCREASES - The Popeyes lease features over nineteen (19+) years of term remaining with 10% rent increases every 5 years throughout the base term and option periods, providing exceptional income security and consistent revenue growth.
NEW 2026 CONSTRUCTION – NNN GROUND LEASE - Popeyes is currently being built with an estimated opening of April 2026 and operates on a triple-net (NNN) ground lease. The triple-net (NNN) lease structure allows for a hands-free, passive form of ownership attracting a wide, national buyer pool.
ALLENTOWN MSA / COUNTY SEAT LOCATION - The property is strategically positioned in Easton, the county seat of Northampton County, within the thriving Allentown MSA that is home to nearly 874,000 residents, offering a strong consumer base and a stable regional economy that supports long-term tenant performance.
DENSELY POPULATED, AFFLUENT AREA - The 5-mile area surrounding the property boasts excellent demographics with nearly 131,000 residents and 49,000 households. The average household income within the surrounding area sits at $138,000 within 1-mile; $134,000 within 3-miles; and $126,000 within 5-miles.
DRIVE-THRU The property features a drive-thru allowing for convenient and efficient customer service while supporting strong sales volume and customer traffic.
STRONG, EXPERIENCED OPERATOR (130+ UNITS) - Popeyes is operated by AR Group of Restaurants, Inc., a proven multi-brand franchisee with 130+ Popeyes, Taco Bell, and Dunkin’ locations across Delaware, New Jersey, New York, and Pennsylvania. Founded in 1997 and led by President & CEO Ali Butt and partner Shahid Cheema, the group brings nearly three decades of successful operations and brand expertise.
BUSTLING RETAIL CORRIDOR - Popeyes surrounded by a host of nearby, national retailers along Easton-Nazareth Highway (18,000 VPD), such as: Target, Walmart Supercenter, Sam’s Club, Wegman’s, GIANT, Aldi, Bank of America, PNC Bank, TD Bank, Fulton Bank, CVS Pharmacy, Kohl’s, PetSmart, Petco, Burlington, Five Below, Hobby Lobby, Staples, Planet Fitness, Tractor Supply Co., Dollar General, Firestone, Caliber Collision, Advance Auto Parts, AutoZone, Mavis Discount Tire, Verizon, AT&T, Mattress Firm, Great Clips, LongHorn Steakhouse, Buffalo Wild Wings, Red Robin, Chipotle, Panera Bread, Wawa, McDonald’s, Starbucks, Dunkin’, Chick-Fil-A, Burger King, and Arby’s demonstrating the strength of the retail corridor.
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