Popeyes
Retail | 6.00% CAP | 2,421 SqFt
Marketing description
Popeyes Louisiana Kitchen ("Popeyes") is a globally recognized quick-service restaurant (QSR) brand renowned for its distinctive Louisiana-style fried chicken, spicy flavor profile and strong consumer appeal. Founded in 1972 in Arabi, Louisiana, Popeyes has evolved into the second-largest quick-service chicken concept worldwide and now operates as part of Restaurant Brands International Inc. (RBI), one of the largest restaurant holding companies globally. With a predominantly franchised model, Popeyes benefits from broad geographic diversification, strong brand resonance, and an accelerated growth trajectory — factors that underscore its attractiveness for retail and net-lease investors seeking creditworthy tenants in the quick-service segment.
Investment highlights
- Absolute NNN Lease: The property is secured by a long-term absolute NNN lease with approximately 16 years remaining, providing passive income with zero landlord responsibilities.
- Upcoming High School Development: The planned Percy Julian High School, projected to serve 2,000 students and open in Spring 2028, is expected to significantly enhance local foot traffic, housing demand, and long-term area growth.
- Strong Demographics: The asset is supported by a dense population of 154,768 residents within a five-mile radius and over 20,000 daytime employees within three miles, providing a consistent and diverse customer base.
- Limited Internal Competition: The subject property benefits from strong market positioning, with the nearest Popeyes located 8 miles away, minimizing brand cannibalization.
- High-Traffic Location: Situated along N Eastern Blvd with traffic counts exceeding 40,500 vehicles per day, the property benefits from strong visibility and continuous consumer exposure.
- Proximity to Key Demand Drivers: Located near major regional anchors including Eastdale Mall and 8 miles from Alabama State University, driving consistent retail traffic and demand.
- Favorable Sunbelt Market Dynamics: Located in Montgomery, a growing Southeastern market benefiting from population stability, business-friendly policies, and ongoing economic development.
- Scaled & Growing Franchisee: TICE Chicken Holdings, a Popeyes franchise backed by AIM Capital, is actively expanding. In March 2024, the group acquired approximately 50 Popeyes locations in Florida, significantly increasing its footprint beyond Alabama and Georgia.
- Growing National Tenant: Popeyes continues its global expansion, with over 3,600 locations worldwide and a target of 4,000 North American units by 2028, driven by growth across the U.S., Canada, Mexico, China, and the UK.
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