Popeyes Drive-Thru | Rialto, CA
12+ Year Absolute NNN Popeyes
Investment highlights
Long-Term Absolute Net Lease - Approximately 12+ years remaining on a recently executed 15-year lease, demonstrating the tenant’s long-term commitment to the site. The lease is structured as an Absolute NNN obligation with zero landlord responsibilities — tenant is responsible for all property taxes, insurance, maintenance, roof, structure, HVAC, parking, and landscaping. True passive income for the investor.
Scheduled Rental Increases - Multiple contractual 7.5% rent escalations throughout the remaining lease term, occurring every five years. These fixed increases provide built-in income growth and inflation protection, delivering predictable NOI appreciation over the hold period.
Seasoned Multi-Unit Operator - The tenant, SG Food Express LLC, is operated by a seasoned franchisee group with approximately 30 franchise locations and over 25 years of experience within the Southern California Popeyes franchise system. The operator continues to expand, with multiple new Popeyes store openings in development — reflecting strong financial capacity and brand commitment.
High-Performing Location — Placer AI Verified - This Popeyes location ranks in the top 84% of all Popeyes units in the nearby market area and the top 61% nationwide, per Placer AI foot traffic data. Strong and consistent customer traffic patterns support sustained sales volumes and long-term operator health at this site.
National Brand with Global Recognition - Popeyes Louisiana Kitchen is a globally recognized quick-service restaurant brand with over 3,700 locations worldwide. The brand’s strong and loyal customer following supports sustained sales volumes and enhances long-term operator stability. Popeyes is owned by Restaurant Brands International (NYSE: QSR), one of the world’s largest quick-service restaurant companies.
Complementary Adjacent Retail — Farmer Boys Top Performer - The property is located directly adjacent to a Farmer Boys restaurant that ranks in the top 92% of all Farmer Boys locations nationwide. This high-performing neighbor reinforces the quick-service food cluster along Baseline Road, driving shared traffic and validating the corridor’s strength as a fast-food destination.
Pro-Development City with Active Nearby Growth - Rialto is a pro-development city experiencing significant investment and population growth. The nearby Lennar Renaissance master-planned community — a new gated development featuring four residential neighborhoods with homes from the $500,000s — is actively selling and adding hundreds of new households to the immediate trade area. Additional industrial and commercial development projects throughout the city are further expanding the local customer base.
Adjacent to Amazon Distribution & Logistics Hub - The property is situated adjacent to Amazon’s 850,000+ SF fulfillment center in Rialto, which employs 1,000+ full-time associates across multiple shifts. This major logistics facility generates substantial daytime and lunchtime traffic from employees, delivery drivers, and support staff — directly benefiting quick-service restaurants in the immediate vicinity. The broader Rialto/Bloomington corridor is one of the Inland Empire’s densest logistics employment zones, with multiple Amazon and third-party distribution operations concentrated in the area.
Inland Empire — Southern California’s Growth Engine - Rialto is situated in the heart of the Inland Empire — one of Southern California’s most active logistics, workforce, and population growth corridors. The area benefits from proximity to the I-10 and I-210 freeways, a rapidly expanding residential base, and a deep concentration of distribution and logistics employment that drives consistent quick-service restaurant demand throughout the trade area.
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