Popeyes

2159 S Byron Butler Pkwy, Perry, FL 32348

$1,750,000

Cap Rate 6.85%

$1,997,999

Cap Rate 6.00%

Updated: 05.03.24 Posted: 05.24.23 Status: Sold

Summary

Price $1,750,000 $1,997,999	Built/Renov 2017	Tenant Popeyes
Cap Rate 6.85% 6.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 2,265	Lease Start 05-31-2017	#Units 200
Price/SF $772.63 $882.12	Expiration 05-31-2032	Tenant Type Fast Food/QSR
NOI $119,815	R. Term 7.0	Ownership Fee Simple
Rent/SF $52.90	Increases 10.0%/4/yrs	Pop 5Mi 11,112
Lot/AC 0.57	Options 5/5yrs/10%	AHHI 5Mi $47,395

Deno Bistolarides

ENCORE Real Estate Investment Services

Contact

Lease Highlights

Tenant has 9 years remaining with 5 (5-year) option periods to extend
Lease features 10% rental increases every 5 years throughout the lease
Absolute NNN with zero landlord responsibilities
The lease is guaranteed by franchisee Sailormen, Inc. (200+ Unit Entity)
Florida is an income tax free state

Location Description

Popeyes is strategically located along Byron Butler Pkwy (US Hwy 98) with clear visibility and access to 14,200 vehicles passing by daily. The building is equipped with a drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The site is surrounded by several national retailers such as Winn-Dixie, Bealls Outlet,...

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Key Features

Major thoroughfare
Near major nationals
Strategically located
Highway location
Strong tenant synergy
Income tax free state
Absolute NNN
Traded and rated company
100+ unit franchisee backed

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Links

Popeyes Wikipedia Popeyes Wikipedia Perry, Florida Zip Code 32348 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Popeyes
Guarantor:Franchisee
Company:Sailormen Inc
# Units:200
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 :	2,401	9,988	12,566
2023 Total Population :	2,374	10,009	12,628
2023 Employed Civilian Pop :	851	3,859	4,791
2023 Total Businesses :	158	565	627
2023 Average Household Income :	$ 57,077	$ 66,497	$ 69,288
2023 Total Consumer Spending :	$ 50 M	$ 237 M	$ 315 M
2023 Median Age :	39	41	42
2023 Total Households :	986	3,996	5,108
2023 Pop Age 25+: Bachelor's Degree :	208	860	1,038
2023 Average Home Value :	$ 163,401	$ 148,141	$ 150,982

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
S Byron Butler Pkwy	W Pine Rd	2005	14,900	0.08 mi
Byron Butler Parkway	W Pine Rd	2021	11,600	0.09 mi
S Jefferson St	Baker Rd	2005	12,000	0.28 mi
S Byron Butler Pkwy	Baker Rd	2005	13,400	0.43 mi
US 221		2021	9,800	0.44 mi
Byron Butler Parkway	S Byron Butler P	2021	10,000	0.53 mi
Byron Butler Parkway	S Givens St	2018	10,600	0.53 mi
East Church Street	S Center St	2021	1,400	0.69 mi
West Church Street	S Campbell St	2021	1,400	0.72 mi
Jefferson Street	E Jane Ave	2021	9,200	0.81 mi

Listing Broker

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