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Views: 40 DOM: 49 Updated: 08.22.24 Posted: 08.22.24 Status: Active

Summary

Price $2,750,000
Built/Renov 2023
Tenant Popeyes
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,200
Lease Start 11-01-2024
#Units 5
Price/SF $1,250.00
Expiration 10-31-2039
Tenant Type Fast Food/QSR
NOI $165,000
R. Term 15.0
Ownership Fee Simple
Rent/SF $75.00
Increases 7.5%/5/yrs
Pop 5Mi 122,793
Lot/AC 4.39
Options 2/5yrs/7.5%
AHHI 5Mi $90,253

Lease Highlights

  • New construction completed in 2023
  • Brand new 15-year sale-leaseback with 2 (5-year) options to extend
  • The lease features 7.5% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Strong franchisee | Operates Popeye’s, Tim Hortons, Checkers & Moe’s

Location Description

Popeyes is strategically located on Veterans Parkway, with access to 36,900 vehicles passing by daily. The property is conveniently situated right off I-185 on a main retail artery in one of the most affluent areas of Columbus. The immediate area features well-known national tenants, including Chili's, Chick-fil-A, Starbucks, Waffle House, Five Guys, and more. Key community educational...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Popeyes
  • Guarantor:Franchisee
  • Company:Franchisee
  • # Units:5
  • 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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Listing Broker

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