Popeyes | New 20-Yr Abs NNN | Zion, IL
6.00% CAP | 10% Bumps/5 Yrs | Award-Winning Franchisee
Marketing description
Marcus & Millichap is pleased to present the opportunity to acquire a freestanding Popeyes drive-thru located at 3340 Sheridan Road in Zion, Illinois, within the dense North Chicagoland trade area. The ±2,163-square-foot restaurant, built in 2022, sits on ±1.58 acres and is secured by a brand-new 20-year absolute NNN lease with zero landlord responsibilities and four (4) five-year renewal options. Annual base rent of $160,000 commences June 2026 at a 6.00% cap rate, with scheduled 10% rent increases every five years providing dependable income growth and inflation protection. The store is operated by an experienced, award-winning franchisee operating an extensive Popeyes portfolio across the Greater Chicago Area, Indiana, Michigan, and Wisconsin, recognized as 2024 Popeyes Developer of the Year and 2022 Popeyes Franchisee of the Year, with a personal guaranty in place.
The property is positioned along Sheridan Road (IL-137, ±9,064 VPD), Zion's primary commercial spine, with convenient access to Illinois Route 173 and Interstate 94 and corridor neighbors including Culver's, Wendy's, ALDI, and Dollar General. The 5-mile trade area holds 104,195 residents, and the asset sits within the Chicago MSA, the third-largest in the nation with more than 9.4 million residents.
Illinois Broker of Record: Steven Weinstock
Marcus & Millichap
Lic #: 471.01117
Investment highlights
- Brand-New 20-Year Absolute NNN Lease | Zero Landlord Responsibilities
- Scheduled 10% Rent Increases Every 5 Years for Built-In Income Growth
- 6.00% Cap Rate on $160,000 NOI, With Rent Commencing June 2026
- Four (4) Five-Year Renewal Options for Up to 20 Additional Years of Occupancy
- Operated by an Award-Winning Franchisee (2024 Popeyes Developer of the Year) With Personal Guaranty
- Freestanding ±2,163 SF Drive-Thru Built in 2022 on ±1.58 Acres
- Prime Sheridan Road (IL-137) Corridor, ±9,064 VPD, With Access to IL-173 and Interstate 94
- Located in the Chicago MSA, 3rd-Largest in the U.S. With 9.4M+ Residents
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