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Restaurant

Popeyes-Jacksonville, FL

1902 N Main St, Jacksonville, FL 32206

Listing Price: $2,484,747

Cap Rate
3.75%
Tenant Name
Popeyes
Years Remaining On Lease
17.3
Guarantor
Franchisee Guarantee
Rentable SF
1,526
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$61.06

Investment Overview

Marcus & Millichap is pleased to present for sale this Absolute NNN Popeye’s Louisiana Kitchen Restaurant located at 1902 North Main Street in Jacksonville, the most populous City in Florida. The subject property consists of approximately 1,526 square foot building situated on a .41-acre parcel of land. Strategically located just minutes from Downtown Jacksonville, on North Main Street, a heavily traveled thoroughfare, the property benefits from great visibility and traffic counts in excess of 12,600 vehicles per day. The subject property is Ideally positioned in between two Major Highways, Interstate 95 and Martin Luther King Jr Parkway, averaging greater than 160,000 Vehicles per Day. There are multiple traffic drivers to this Popeyes, including its location less than a mile from UF Health Jacksonville, a 695-Bed Facility, and Florida State College at Jacksonville, with a total undergrad enrollment of 20,734 students serving as a straight consumer base from which to draw. Furthermore, the Subject Property is surrounded by an Impressive Roster of National Retailers including, but not limited to, KFC, Walgreens, McDonald’s, Wells Fargo, Family Dollar, as well as many others. Popeyes originally executed a 20-year Lease in late 2019 and has a lengthy 17+ years remaining on the Base Term. Additionally, the Lease calls for Four Five-Year option periods bringing the Potential Lease Term to 40 Years. This Popeyes is positioned in Core Jacksonville which benefits from a population greater than 199,000 and an average household income in excess of $59,000 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
  • Strong 110+ Unit Franchisee Guarantee
  • Attractive 1.75% Annual Rent Increases | Significant Hedge against Inflation
  • Long Term Lease with (4) Five-Year Options | Commitment to Site
  • Popeyes is Considered an Essential Tenant
  • Florida Has No State Income Tax

Exclusively Listed By

Restaurant

Popeyes-Jacksonville, FL

Listing Price: $2,484,747

Cap Rate
3.75%
Tenant Name
Popeyes
Years Remaining On Lease
17.3
Guarantor
Franchisee Guarantee
Rentable SF
1,526
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$61.06

Investment Highlights

  • Absolute NNN Lease | Zero Landlord Responsibility
  • Strong 110+ Unit Franchisee Guarantee
  • Attractive 1.75% Annual Rent Increases | Significant Hedge against Inflation
  • Long Term Lease with (4) Five-Year Options | Commitment to Site
  • Popeyes is Considered an Essential Tenant
  • Florida Has No State Income Tax

Investment Overview

Marcus & Millichap is pleased to present for sale this Absolute NNN Popeye’s Louisiana Kitchen Restaurant located at 1902 North Main Street in Jacksonville, the most populous City in Florida. The subject property consists of approximately 1,526 square foot building situated on a .41-acre parcel of land. Strategically located just minutes from Downtown Jacksonville, on North Main Street, a heavily traveled thoroughfare, the property benefits from great visibility and traffic counts in excess of 12,600 vehicles per day. The subject property is Ideally positioned in between two Major Highways, Interstate 95 and Martin Luther King Jr Parkway, averaging greater than 160,000 Vehicles per Day. There are multiple traffic drivers to this Popeyes, including its location less than a mile from UF Health Jacksonville, a 695-Bed Facility, and Florida State College at Jacksonville, with a total undergrad enrollment of 20,734 students serving as a straight consumer base from which to draw. Furthermore, the Subject Property is surrounded by an Impressive Roster of National Retailers including, but not limited to, KFC, Walgreens, McDonald’s, Wells Fargo, Family Dollar, as well as many others. Popeyes originally executed a 20-year Lease in late 2019 and has a lengthy 17+ years remaining on the Base Term. Additionally, the Lease calls for Four Five-Year option periods bringing the Potential Lease Term to 40 Years. This Popeyes is positioned in Core Jacksonville which benefits from a population greater than 199,000 and an average household income in excess of $59,000 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

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