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DOM: 356 Updated: 07.09.24 Posted: 05.24.23 Status: Sold 05.15.24

Summary

Price $2,818,181
Built/Renov 2020
Tenant Popeyes
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 1,846
Lease Start 06-01-2020
#Units 45
Price/SF $1,526.64
Expiration 06-30-2035
Tenant Type Fast Food/QSR
NOI $155,000
R. Term 10.1
Ownership Fee Simple
Rent/SF $83.97
Increases 10.0%/2/yrs
Pop 5Mi 33,200
Lot/AC 1.00
Options 4/5yrs/10%
AHHI 5Mi $48,910

Lease Highlights

  • New 2020 construction
  • Popeyes has over 12 years remaining on the current lease term with 4 (5-year) options to extend
  • Lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option
  • Absolute NNN | Zero landlord responsibilities
  • Personal guarantee by Funky Chicken LLC (45 Locations)

Location Description

This 1,845 square foot Popeyes is situated on a 1 acre lot along Lafayette Parkway with access to 24,000 vehicles per day. The site is situated a few blocks away from the on/off ramp access to Interstate 85, a major northeast–southwest highway, with over 37,000 vehicles passing daily. Popeyes is directly next to LaGrange Mall, a 233,000 square foot mall, with tenants including Hobby Lobby,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Popeyes
  • Guarantor:Franchisee
  • Company:Funky Chicken LLC
  • # Units:45
  • Tenant S&P: BB
  • Stock: NYSE: QSR

About Tenant

Popeyes Louisiana Kitchen, Inc., also known as Popeyes, is an American multinational chain of fried chicken fast food restaurants that was founded in 1972 in New Orleans, LA. Popeyes distinguishes...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 732 19,662 37,804
2023 Total Population : 733 18,710 37,086
2023 Employed Civilian Pop : 374 8,169 16,414
2023 Total Businesses : 204 800 1,610
2023 Average Household Income : $ 73,787 $ 61,992 $ 68,768
2023 Total Consumer Spending : $ 19 M $ 390 M $ 848 M
2023 Median Age : 40 36 36
2023 Total Households : 300 7,192 14,108
2023 Pop Age 25+: Bachelor's Degree : 105 1,395 2,950
2023 Average Home Value : $ 238,368 $ 194,117 $ 230,193
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Lafayette Parkway Cotton Rd 2019 24,200 0.03 mi
Lafayette Parkway Robertson St 2021 21,700 0.03 mi
S Davis Rd Lafayette Pkwy 2005 12,330 0.31 mi
Lafayette Pkwy Greenville Rd 2019 4,450 0.42 mi
South Davis Road Lafayette Pkwy 2021 17,900 0.50 mi
Greenville Rd 2021 3,200 0.55 mi
Greenville Rd 2021 4,730 0.59 mi
Greenville Rd 2021 4,480 0.59 mi
Greenville Road Center Plz Dr 2021 14,600 0.70 mi
Lafayette Parkway Union St 2021 21,900 0.78 mi

Listing Broker

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