Listed by SURMOUNT
$2,583,368
Popeyes
Details
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 2,333
Cap Rate 6%
NOI $155,002
Occupancy 100%
Tenancy Single
Brand/Tenant Popeyes
Lease Type NNN
Lease Term 20
Lease Expiration 05/31/2043
Remaining Term 16.9
Price per SqFt $1,107
Year Built 2023
Acreage 1.000
Investment Type Net Lease
Tenant Credit Franchisee
Lease Commencement 06/01/2023
Ownership Fee Simple
Retail | 6.00% CAP | 2,333 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Popeyes located at 5503 Commercial Street Southeast, Salem, OR 973 06. The site consists of roughly 2,333 rentable square feet of building space on an estimated 1-acre parcel of land. Popeyes is subject to a 20-year Triple Net (NNN) lease, which commenced 6/1/2023. The current annual rent is $155,002 and has scheduled increases of 1.75% Annually Starting in June 2029.
Investment highlights
- Proximity to Willamette University and Corban University | The property is located approximately 4.5 miles from Willamette University, a premier private liberal arts institution with approximately 2,400 students enrolled across undergraduate and graduate programs, and approximately 4.3 miles of Corban University, a private Christian university with approximately 1,000+ students on campus.
- Salem Hospital | The property is located approximately 4.3 miles from Salem Hospital, a major regional healthcare hub with 494 beds. The hospital generates consistent daily traffic from employees, patients, and visitors, supporting strong demand for convenient quick-service dining options throughout the day.
- Strong & Affluent Area Demographics | The property is supported by a dense and affluent population base, with approximately 65,360 residents within a 3-mile radius and 124,837 residents within a 5-mile radius, along with average household incomes of $96,700 and $90,200, respectively. The combination of strong population density and above-average income levels provides a deep and reliable customer base, supporting discretionary spending and reinforcing long-term demand for quick-service dining.
- Strong Franchisee Guarantee | The lease is backed by a strong franchisee guarantee from Pacific Quick Serve HoldCo LLC, a seasoned operator with 150+ units, providing additional credit support beyond the individual site. This structure strengthens income security and enhances the overall credit profile of the investment.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$155,002.00
$12,916.83/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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