Listed by Marcus & Millichap - Los Angeles
$1,836,957
Popeyes | Absolute NNN | Houston, TX
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 2,123
Net Rentable (SqFt) 2,123
Cap Rate 5.75%
NOI $105,625
Occupancy 100%
Tenancy Single
Brand/Tenant Starbucks, Taco Bell
Lease Type NNN
Lease Term 10
Lease Expiration 04/30/2034
Remaining Term 7.8
Rent Bumps Yes
Lease Options 2 x 5-Years
Acreage 0.710
Investment Type Net Lease
Lease Commencement 04/22/2024
Ground Lease No
High-Traffic Location Near the Port of Houston
Marketing description
- ±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
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
Listing Contacts
Listed by Marcus & Millichap - Los Angeles
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$105,625.00
$8,802.08/mo
Valuation Metrics
0
DSCR
5.75%
Cap Rate
5.75%
ROI
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