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Restaurant

Popeyes

127 E Morris Blvd, Morristown, TN 37813

Listing Price: $2,223,810

Cap Rate
5.25%
Tenant Name
Popeyes
Years Remaining On Lease
16.0
Guarantor
Franchisee Guarantee
Rentable SF
3,223
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$36.22

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Popeye’s located at 127 E. Morris Blvd in Morristown, Tennessee. The site consists of roughly 3,223 rentable square feet of building space on estimated 1.04-acre parcel of land. This Popeyes is subject to a 20-year absolute triple-net (NNN) lease, which commenced on June 15th, 2018 and has 16 years remaining. The current annual rent is scheduled to increase by 1.50% annually and in each of the 4, 5-year renewal options.

Investment Highlights

  • Long Term Lease | 16 Years Left on 20-Year Lease
  • Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Operated by Carrols Restaurant Group (NASDAQ: TAST), one of the Largest Restaurant Companies and Franchisee's in the United States

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s) TN: 307629

    Tennessee

Listing Price: $2,223,810

Cap Rate
5.25%
Tenant Name
Popeyes
Years Remaining On Lease
16.0
Guarantor
Franchisee Guarantee
Rentable SF
3,223
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$36.22

Investment Highlights

  • Long Term Lease | 16 Years Left on 20-Year Lease
  • Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Operated by Carrols Restaurant Group (NASDAQ: TAST), one of the Largest Restaurant Companies and Franchisee's in the United States

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Popeye’s located at 127 E. Morris Blvd in Morristown, Tennessee. The site consists of roughly 3,223 rentable square feet of building space on estimated 1.04-acre parcel of land. This Popeyes is subject to a 20-year absolute triple-net (NNN) lease, which commenced on June 15th, 2018 and has 16 years remaining. The current annual rent is scheduled to increase by 1.50% annually and in each of the 4, 5-year renewal options.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Jody McKibben

    First Vice President/Regional Manager

    (615) 997-2800

    License(s): TN: 307629

    Tennessee

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