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Restaurant

Popeyes- Chattanooga TN

6105 Ringgold Rd, Chattanooga, TN 37412

Listing Price: $2,046,315

Cap Rate
4.52%
Tenant Name
Popeyes
Years Remaining On Lease
13.4
Guarantor
Franchisee Guarantee
Rentable SF
2,380
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$38.82

Investment Overview

Marcus & Millichap is pleased to present for sale this Absolute NNN Popeye’s Louisiana Kitchen Restaurant located at 6105 Ringgold Road, East Ridge, TN. The subject property consists of approximately 2,393 square foot building situated on a .88-acre parcel of land. Strategically located in the Heart of East Ridge on Ringgold Road, the property benefits from great visibility and traffic counts in excess of nearly 30,000 vehicles per day. The subject property is Ideally positioned directly off the exit of Interstate 75, a heavily traveled highway, serving the greater Chattanooga Metro area, averaging 108,000+ Vehicles per Day. There are multiple traffic drivers to this Popeyes, including its location less than a mile from the Newly Built Top Golf and Bass Pro Shop, serving as a straight consumer base from which to draw. Furthermore, the Subject Property is surrounded by a 128-Bed Hospital Facility and an Impressive Roster of National Retailers including, but not limited to, Walmart Supercenter, Chic Fil A, Walgreens, McDonald’s, as well as many others. Popeyes originally executed a 20-year Lease in 2015 and has a lengthy 13+ years remaining on the Base Term. Additionally, the Lease calls for Three Five-Year option periods bringing the Potential Lease Term to 35 Years. This Popeyes is positioned in the Chattanooga MSA which benefits from a population greater than 569,000. Furthermore, the subject property benefits from 137,000 Full time residences with a household income exceeding $65,000 annually within a five-mile radius. Popeye’s Louisiana Kitchen, Inc., also known as Popeye’s, is a famous American multinational chain of fried chicken fast food restaurants that was founded in 1972 in New Orleans and is today headquartered in Miami, Florida. As of 2020, Popeye’s had 3,451 restaurants located in 36 states, The District of Columbia, Puerto Rico and 30 countries worldwide. Annual income for Popeye’s Inc. exceeds 268.9 Million Dollars annually.

Investment Highlights

  • Absolute NNN Lease | Zero Landlord Responsibility
  • Attractive 10% Rent Increases Every Five Years | Significant Hedge against Inflation
  • Long Term Lease with (3) Five-Year Options | Commitment to Site
  • High Visibility and Ease of Access | Directly Off Interstate 75 | 108,000+ VPD
  • National Retailers in the Immediate Area Include Walgreens, Walmart, Top Golf, Bass Pro Shop
  • Tennessee Has No State Income Tax
  • Popeyes is Considered an Essential Tenant

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s) TN: 307629

    Tennessee

Restaurant

Popeyes- Chattanooga TN

Listing Price: $2,046,315

Cap Rate
4.52%
Tenant Name
Popeyes
Years Remaining On Lease
13.4
Guarantor
Franchisee Guarantee
Rentable SF
2,380
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$38.82

Investment Highlights

  • Absolute NNN Lease | Zero Landlord Responsibility
  • Attractive 10% Rent Increases Every Five Years | Significant Hedge against Inflation
  • Long Term Lease with (3) Five-Year Options | Commitment to Site
  • High Visibility and Ease of Access | Directly Off Interstate 75 | 108,000+ VPD
  • National Retailers in the Immediate Area Include Walgreens, Walmart, Top Golf, Bass Pro Shop
  • Tennessee Has No State Income Tax
  • Popeyes is Considered an Essential Tenant

Investment Overview

Marcus & Millichap is pleased to present for sale this Absolute NNN Popeye’s Louisiana Kitchen Restaurant located at 6105 Ringgold Road, East Ridge, TN. The subject property consists of approximately 2,393 square foot building situated on a .88-acre parcel of land. Strategically located in the Heart of East Ridge on Ringgold Road, the property benefits from great visibility and traffic counts in excess of nearly 30,000 vehicles per day. The subject property is Ideally positioned directly off the exit of Interstate 75, a heavily traveled highway, serving the greater Chattanooga Metro area, averaging 108,000+ Vehicles per Day. There are multiple traffic drivers to this Popeyes, including its location less than a mile from the Newly Built Top Golf and Bass Pro Shop, serving as a straight consumer base from which to draw. Furthermore, the Subject Property is surrounded by a 128-Bed Hospital Facility and an Impressive Roster of National Retailers including, but not limited to, Walmart Supercenter, Chic Fil A, Walgreens, McDonald’s, as well as many others. Popeyes originally executed a 20-year Lease in 2015 and has a lengthy 13+ years remaining on the Base Term. Additionally, the Lease calls for Three Five-Year option periods bringing the Potential Lease Term to 35 Years. This Popeyes is positioned in the Chattanooga MSA which benefits from a population greater than 569,000. Furthermore, the subject property benefits from 137,000 Full time residences with a household income exceeding $65,000 annually within a five-mile radius. Popeye’s Louisiana Kitchen, Inc., also known as Popeye’s, is a famous American multinational chain of fried chicken fast food restaurants that was founded in 1972 in New Orleans and is today headquartered in Miami, Florida. As of 2020, Popeye’s had 3,451 restaurants located in 36 states, The District of Columbia, Puerto Rico and 30 countries worldwide. Annual income for Popeye’s Inc. exceeds 268.9 Million Dollars annually.

Exclusively Listed By

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s): TN: 307629

    Tennessee

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