Popeyes

6105 Ringgold Road, Chattanooga, TN 37412

$1,900,000

Cap Rate 5.12%

$1,940,000

Cap Rate 5.01%

DOM: 38 Updated: 03.22.24 Posted: 12.27.23 Status: Sold 02.03.24

Summary

Price $1,900,000 $1,940,000	Built/Renov 2015	Tenant Popeyes
Cap Rate 5.12% 5.01%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 2,380	Lease Start 01-01-2015	#Units 1
Price/SF $798.32 $815.13	Expiration 12-31-2035	Tenant Type Fast Food/QSR
NOI $97,200	R. Term 10.6	Ownership Fee Simple
Rent/SF $40.84	Increases 10.0%/1/yrs	Pop 5Mi 134,375
Lot/AC 0.88	Options 3/5yrs/10%	AHHI 5Mi $65,572

Highlights

Popeyes has 11+ years remaining on the current lease term with 3 (5-year) options to extend
Lease features 10% rental increases every 5 years throughout the initial term and at the start of each option period
Absolute NNN | Zero landlord responsibilities
Franchisee guaranteed

Location Description

Popeyes is strategically located on Ringgold Road, boasting excellent visibility and access to 26,664 vehicles passing by daily. The property holds an ideal position directly off the exit of Interstate 75, a heavily traversed highway catering to the greater Chattanooga Metro area and averaging 108,000 VPD. This property benefits from close proximity to the newly constructed Top Golf and Bass...

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Key Features

Dense retail corridor
Near major nationals
Freeway close
Dense 100M+ pop 5 mi
Major MSA
Income tax free state
Absolute NNN
Long 10+ yr lease
Traded and rated company
Personal guarantee

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Links

Popeyes Wikipedia Popeyes Wikipedia Chattanooga, Tennessee Zip Code 37412 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Popeyes
Guarantor:Franchisee
Company:Franchisee
# Units:1
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 founded in 1972 in New Orleans, LA. Popeyes distinguishes itself...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	6,584	54,330	135,268
2023 Total Population :	6,323	53,917	133,415
2023 Employed Civilian Pop :	2,898	25,677	61,149
2023 Total Businesses :	362	1,958	5,834
2023 Average Household Income :	$ 58,738	$ 71,452	$ 75,220
2023 Total Consumer Spending :	$ 137 M	$ 1446 M	$ 3616 M
2023 Median Age :	43	41	40
2023 Total Households :	2,681	23,171	54,933
2023 Pop Age 25+: Bachelor's Degree :	470	6,364	16,526
2023 Average Home Value :	$ 266,160	$ 253,102	$ 262,675

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Mack Smith Road	Burr St	2022	10,488	0.37 mi
N. MACK SMITH RD.	Brack St	2021	10,448	0.37 mi
Ringgold Road	S Smith St	2022	29,320	0.41 mi
US 41;US 76	McDonald Rd	2021	30,195	0.41 mi
	I- 75	2022	11,945	0.54 mi
Prater Rd	Good Ln	2003	1,743	0.55 mi
	Ringgold Rd	2022	98,715	0.60 mi
	Ringgold Rd	2021	7,650	0.61 mi
	I- 75	2022	8,314	0.63 mi
	I- 75	2022	653	0.64 mi

Listing Broker

Gabriel Britti

Marcus & Millichap

Contact

88 Listings
21595 Views
52 Sold

Ronnie Issenberg

Marcus & Millichap

Contact

88 Listings
21595 Views
52 Sold

Gabriel Britti

Gabriel Britti, Senior Managing Director of Investments, co-founded the Issenberg Britti Group in 2009 and is a Senior Director of the National Retail Group and Associate Director of the Net Leased Properties Group of Marcus & Millichap Real Estate Investment Services. Gabriel loves what he does, has a thirst for knowledge and takes great pleasure in sharing that knowledge to advance clients towards their investment goals. Gabriel has a long list of loyal clients including some of the na

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Ronnie Issenberg

Ronnie S. Issenberg, Senior Managing Director Investments and Director National Retail Group, has been working in the Investment Real Estate Community since 1998 managing his personal portfolio of Multi Family properties and since 2005, been a member of the National Retail, Net Leased Properties and Land Divisions of Marcus & Millichap, specializing in brokerage of Single Tenant Retail and Fuel Service Assets. Mr. Issenberg earned a Bachelor of Arts and Sciences degree from the University o

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