Popeyes

2602 South Roan Street, Johnson City, TN 37601

$2,095,300

Cap Rate 5.90%

View OM

DOM: 9 Updated: 09.05.25 Posted: 09.05.25 Status: Active 09.05.25

Summary

Price $2,095,300	Built/Renov 2018	Tenant Popeyes
Cap Rate 5.90%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 3,184	Lease Start 12-28-2018	#Units 4,979
Price/SF $658.07	Expiration 12-31-2038	Tenant Type Fast Food/QSR
NOI $123,625	R. Term 0.00	Ownership Fee Simple
Rent/SF $38.83	Increases 7.5%/6/yrs	Pop 5Mi 83,553
Lot/AC 0.95	Options 4/5yrs/7.5%	AHHI 5Mi $90,483

Highlights

Absolute net lease with over 13 years remaining, expiring December 31, 2038
7.5% rent increases every five years during base term and options
Four 5-year renewal options provide long-term stability for investors
3,184 SF building on 0.95-acre parcel with 48 parking spaces, built in 2018
Located along North Roan Street with 22,600 vehicles per day and direct access to Interstate 26
Surrounded by Kroger, Target, T.J. Maxx, Dollar Tree, and other national retailers in dense corridor
Strong demographics with over 83,000 residents and average household income exceeding $95,000 within 5 miles

Location Description

Popeyes is strategically located along North Roan Street in Johnson City, Tennessee, with access to a daily traffic count of approximately 22,600 vehicles, and less than ¼ mile from Interstate 26 carrying 55,000 vehicles daily. The site is surrounded by major national retailers including Kroger, Target, T.J. Maxx, etc, driving consistent consumer traffic to the area. The property is located...

...

Key Features

In location for years
Major thoroughfare
Near major nationals
Strong demographics
Business growth area
Population increase trend
Long operation history
Absolute NNN
Traded and rated company
Corporate Guarantee

...

Links

Popeyes | Johnson City, TN Wikipedia Popeyes Wikipedia Johnson City, TN Zip Code 37601 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Popeyes
Guarantor:Corp T and Rated
Company:Restaurant Brands International, Inc.
# Units:4,979
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...

...

Listing Broker

Karly Iacono

CBRE

Contact

11 Listings
3770 Views
2 Sold

Rachel Wilson

CBRE

Contact

1 Listings
0 Views
0 Sold

Karly Iacono

Karly Iacono is a Senior Vice President (Honorary Title) in CBRE’s Capital Markets, Investment Properties group. She is also a senior advisor within the exclusive Net Lease Property group, comprising a national team of top-level brokers located in major metropolitan areas across the United States that concentrates in transacting single-tenant assets and net-lease portfolios nationwide. Karly is an expert at structuring corporate sale-leasebacks and advising clients on single and multi-tenant re

...

Rachel Wilson

Rachel Wilson is an experienced and licensed commercial real estate professional focused in retail properties (single tenant net lease and shopping centers). Rachel's major competencies include transaction management, deliverable generation, social media and digital marketing, as well as market research. Rachel has a documented track record of successfully assisting in retail and net leased dispositions and acquisitions, corporate sale-leasebacks, single tenant development, and zero cash-flow t

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT