Popeyes | Absolute NNN | Houston, TX
High-Traffic Location Near the Port of Houston
Marketing description
Marcus & Millichap is pleased to present the opportunity to acquire a freestanding Popeyes located at 1509 Fairmont Parkway in La Porte, Texas. This ±2,123-square-foot building sits on ±0.71 acres and is subject to a new 10-year absolute NNN lease that commenced in April 2024. The lease includes zero landlord responsibilities, 10% rent increases every five years, and two (2) five-year renewal options. A percentage rent provision allows for 8% of gross sales above a natural breakpoint, triggered only if annual sales exceed the prior year by more than 5%.
The property is situated along Fairmont Parkway, one of the primary east-west retail corridors in La Porte and Pasadena, with excellent visibility and traffic exposure. The surrounding area includes national retailers such as Kroger, Wingstop, Jersey Mike’s, Anytime Fitness, and Hampton Inn & Suites, and benefits from proximity to the Port of Houston and major employment centers. The location also serves a dense daytime population supported by schools, industrial parks, and residential communities.
The tenant is CSM Group, one of the largest and most respected Popeyes franchisees, operating about 120 locations across Texas, Kansas, and Missouri. CSM was named Popeyes Franchisee of the Year in both 2024 and 2025. This site is scheduled to undergo a full remodel to Popeyes’ new prototype by the end of 2032.
Investment highlights
- ±8-Years Remaining on Absolute NNN Lease With Zero Landlord Responsibilities
- 10% Rent Increases Every 5 Years Plus Percentage Rent | Percentage Rent Kicks In at 8% of Sales Over Breakpoint if Annual Sales Exceed Prior Year by Greater Than 5%
- ±2,123 SF Popeyes With Drive-Thru on ±0.71 Acres | Strong Visibility Along Fairmont Pkwy
- Dense Retail Corridor Near Port of Houston With Surrounding Tenants Including Kroger, Wingstop, Jersey Mike’s, and Hampton Inn
- Franchisee Operates About 120 Popeyes Units and Was Named 2024 & 2025 Popeyes Franchisee of the Year
- Part of Restaurant Brands International (NYSE: QSR) – $6.8B Revenue, 3,700+ Popeyes Locations Globally
- Located in the Houston MSA, 5th Largest Metro in the U.S. With Strong Growth and Infrastructure
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