Listed by SRS Real Estate Partners New York
$1,438,000
Popeyes
Details
APN 025K A 02200
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 3,165
Cap Rate 5.75%
NOI $82,680
Tenancy Single
Brand/Tenant Popeyes
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 12/17/2038
Remaining Term 12.5
Rent Bumps Yes
Lease Options 2 (5-Year)
Year Built 1986
Year Renovated 2018
Acreage 0.920
Zoning City / Highway Oriented Business District (B-2)
Parking Spaces 54 spaces
Parking Per SqFt 17.06
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 12/18/2018
Ground Lease No
Ownership Fee Simple (Land & Building Ownership)
Retail | 5.75% CAP | 3,165 SqFt
Marketing description
• More than 12 years of remaining primary term with two (2) 5-year renewal options, providing stable in-place income and long-term extension potential
• 10% rental increases every 5 years during the primary term and at the beginning of each option period support NOI growth and provide a hedge against inflation
• The tenant, Popeyes Louisiana Kitchen, Inc., is a corporate entity for Popeyes, one of the world’s largest chicken QSR brands with more than 5,000 locations
• The property features drive-thru infrastructure, promoting efficient customer flow and supporting tenant performance
Investment highlights
- 12+ Years Remaining | Options To Extend | 10% Rental Increases | Corporate Signature | Drive-Thru Equipped
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Dense Retail Corridor | Steps From Park Plaza
- Strong Frontage On US-51 (18,600 VPD)
- Direct Residential Consumer Base
Listing Contacts
Listed by SRS Real Estate Partners New York
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$82,680.00
$6,890.00/mo
Valuation Metrics
0
DSCR
5.75%
Cap Rate
5.75%
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Title
Is there information that looks off?
