Listed by Matthews
$3,750,000
Popeyes
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 2,956
Cap Rate 6.54%
NOI $245,152
Tenancy Single
Lease Type Absolute NNN
Lease Expiration 06/30/2030
Rent Bumps Yes
Year Built 1986
Acreage 0.640
Investment Type Net Lease
Lease Commencement 07/01/2020
Ownership Fee Simple
Retail | 6.54% CAP | 2,956 SqFt
Marketing description
Popeyes Louisiana Kitchen is a globally recognized quick-service restaurant (QSR) brand renowned for its distinctive Louisiana-style fried chicken, spicy flavor profile and strong consumer appeal. Founded in 1972 in Arabi, Louisiana, Popeyes has evolved into the second-largest quick-service chicken concept worldwide and now operates as part of Restaurant Brands International Inc. (RBI), one of the largest restaurant holding companies globally. With a predominantly franchised model, Popeyes benefits from broad geographic diversification, strong brand resonance, and an accelerated growth trajectory — factors that underscore its attractiveness for retail and net-lease investors seeking creditworthy tenants in the quick-service segment.
Investment highlights
- Tenant pays all CAM, taxes, insurance, maintenance, and capital expenses
- No landlord responsibilities
- Ideal, management-free investment for a passive 1031 buyer
- Guaranteed by P.W. Chickens Corp, a proven multi-unit Popeyes franchisee operating 150 locations
- Demonstrated long-term commitment to the brand and site
- This Popeyes location generates sales nearly double the national franchisee median, placing it well into the top tier of performers systemwide
- Strong, consistent revenue demonstrates the durability of this location and the operator's execution
- For specific sales figures, please contact the listing broker directly
- Located on Sudley Rd in Manassas, VA, one of Northern Virginia's primary commercial corridors with over 38,865 vehicles per day
- Directly adjacent to Walmart Supercenter, driving consistent daily consumer traffic
- Surrounded by dominant national retailers including McDonald's, Home Depot, Best Buy, Walgreens, Starbucks, Giant Food, and Manassas Mall — all within the immediate trade area
- Priced at $3,750,000 reflecting a 6.54% cap rate on in-place percentage rent NOI of $245,152
- Offers investors a compelling entry point into the Northern Virginia market
- Base rent of $162,000/year ($13,500/month) with 3% annual escalations throughout the base term and any extensions
- One 10-year renewal option providing long-term security and income visibility
- Site benefits from percentage rent due to consistent high sales volume
- Has historically hit well over excess sales since the start of operating history
- Sudley Road sees over 44,000 vehicles per day, with a 5-mile population exceeding 160,000+ residents and an average household income of approximately $89,000
- Located within one of the most affluent and densely populated suburban markets on the East Coast
- Popeyes operates 2,700+ restaurants across the U.S. and worldwide
- Stable, daily customer demand with consistent long-term performance
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$245,152.00
$20,429.33/mo
Valuation Metrics
0
DSCR
6.54%
Cap Rate
6.54%
ROI
Map
Zoning
B-1 CommercialGeneral CommercialGeneral Business
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