Skip to main content

Restaurant

Popeyes - 2248 East South Blvd, Montgomery, AL

2248 E South Blvd, Montgomery, AL 36116

Listing Price: $2,100,000

Cap Rate
5.00%
Tenant Name
Popeyes Louisiana Kitchen
Guarantor
Franchisee Guarantee
Rentable SF
2,986
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$35.16

Investment Overview

Marcus & Millichap is pleased to present for sale this single tenant, absolute triple-net Popeyes Louisiana Kitchen Restaurant investment opportunity located in Montgomery, Alabama. The property consists of approximately 0.58 acre parcel improved with a 2,986 square foot building. The recently constructed restaurant was built in 2018. The restaurant will have a brand new, 20-year NNN lease in place with a seasoned RBI Brands Franchisee in the Popeyes brand. This franchisee has been a Burger King and Popeyes operator for over a decade and has been awarded for his growth and operations within the brand. Annual base rent is set at $105,000 with 7.5% percent rental increases every five years in the base term, as well as the four, five-year renewal options. The restaurant is located in Montgomery, AL on East South Blvd a few miles off Interstate 65. It is an outparcel to Capitol Plaza Shopping Mall which includes tenants like Dollar General, Burger King, Capitol International Market, and Metro by T-Mobile. Across the street is a Walgreens on the corner of E South Blvd. and Woodley Rd. E South Blvd is a major retail corridor with significant traffic flows of 44,000 vpd and 18,600 vpd on Woodley Rd. Additional quick service restaurants in the immediate area include McDonald’s, Wendy’s, Captain D’s, Church’s Chicken, and Domino’s Pizza. Retail tenants in the area include Dollar General, City Trends, Uhaul, Home Furniture, O’Reilly Auto Parts, Advance Auto, and AutoZone. Baptist Medical Center South is also located nearby which operates a 500 bed healthcare facility.

Investment Highlights

  • New 20 Year NNN Sale Leaseback
  • Experienced Multi-Brand Operator
  • 44,000 Vehicles Per Day

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Restaurant

Popeyes - 2248 East South Blvd, Montgomery, AL

Listing Price: $2,100,000

Cap Rate
5.00%
Tenant Name
Popeyes Louisiana Kitchen
Guarantor
Franchisee Guarantee
Rentable SF
2,986
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$35.16

Investment Highlights

  • New 20 Year NNN Sale Leaseback
  • Experienced Multi-Brand Operator
  • 44,000 Vehicles Per Day

Investment Overview

Marcus & Millichap is pleased to present for sale this single tenant, absolute triple-net Popeyes Louisiana Kitchen Restaurant investment opportunity located in Montgomery, Alabama. The property consists of approximately 0.58 acre parcel improved with a 2,986 square foot building. The recently constructed restaurant was built in 2018. The restaurant will have a brand new, 20-year NNN lease in place with a seasoned RBI Brands Franchisee in the Popeyes brand. This franchisee has been a Burger King and Popeyes operator for over a decade and has been awarded for his growth and operations within the brand. Annual base rent is set at $105,000 with 7.5% percent rental increases every five years in the base term, as well as the four, five-year renewal options. The restaurant is located in Montgomery, AL on East South Blvd a few miles off Interstate 65. It is an outparcel to Capitol Plaza Shopping Mall which includes tenants like Dollar General, Burger King, Capitol International Market, and Metro by T-Mobile. Across the street is a Walgreens on the corner of E South Blvd. and Woodley Rd. E South Blvd is a major retail corridor with significant traffic flows of 44,000 vpd and 18,600 vpd on Woodley Rd. Additional quick service restaurants in the immediate area include McDonald’s, Wendy’s, Captain D’s, Church’s Chicken, and Domino’s Pizza. Retail tenants in the area include Dollar General, City Trends, Uhaul, Home Furniture, O’Reilly Auto Parts, Advance Auto, and AutoZone. Baptist Medical Center South is also located nearby which operates a 500 bed healthcare facility.

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

MM Texture Background
MM Textured Background Lower