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Restaurant

Popeyes - 2401 Menards Dr, Evansville, IN 47715

2401 Menards Dr, Evansville, IN 47715

Listing Price: $2,761,000

Cap Rate
5.00%
Tenant Name
Popeyes
Guarantor
Franchisee Guarantee
Rentable SF
2,400
Lease Type
Absolute Net
Rent Per Square Feet
$57.50

Investment Overview

Marcus & Millichap is pleased to present for sale this single tenant, absolute triple-net Popeyes Restaurant investment opportunity located in Evansville, IN. The property consists of approximately 1.1 acres improved with a 2,400 square foot building. The restaurant was built in 2021 and will have a brand new, 20-year NNN lease in place with a seasoned 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 $138,000 with 7.5% percent rental increases every 5 years, as well as 4, five-year renewal options. The restaurant is located in Evansville, IN on N Green River Road a few miles off Interstate 69. It is in close proximity to the Eastland Mall, Meijer Grocery, Menards Home Improvement, Walgreens, and Showplace Cinemas. Other notable retail includes Ashley’s Furniture, Verizon, and Tractor Supply. Fast food restaurants nearby include, Burger King, McDonald’s, Starbucks, Taco Bell, Rally’s, Mission BBQ, Arby’s, Tropical Smoothie Café, Panda, Domino’s Pizza, and Freddy’s Frozen Custard and Steakburgers. With over 28,500 vpd, this Popeyes location is in the center of many high growth neighborhoods with a total population over 135,000 in a 5-mile radius from the restaurant.

Investment Highlights

  • Built in 2021 Between Two Signalized Corners
  • 28,500 Vehicles Per Day
  • Experienced Operator with over 60 multi brand locations

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Restaurant

Popeyes - 2401 Menards Dr, Evansville, IN 47715

Listing Price: $2,761,000

Cap Rate
5.00%
Tenant Name
Popeyes
Guarantor
Franchisee Guarantee
Rentable SF
2,400
Lease Type
Absolute Net
Rent Per Square Feet
$57.50

Investment Highlights

  • Built in 2021 Between Two Signalized Corners
  • 28,500 Vehicles Per Day
  • Experienced Operator with over 60 multi brand locations

Investment Overview

Marcus & Millichap is pleased to present for sale this single tenant, absolute triple-net Popeyes Restaurant investment opportunity located in Evansville, IN. The property consists of approximately 1.1 acres improved with a 2,400 square foot building. The restaurant was built in 2021 and will have a brand new, 20-year NNN lease in place with a seasoned 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 $138,000 with 7.5% percent rental increases every 5 years, as well as 4, five-year renewal options. The restaurant is located in Evansville, IN on N Green River Road a few miles off Interstate 69. It is in close proximity to the Eastland Mall, Meijer Grocery, Menards Home Improvement, Walgreens, and Showplace Cinemas. Other notable retail includes Ashley’s Furniture, Verizon, and Tractor Supply. Fast food restaurants nearby include, Burger King, McDonald’s, Starbucks, Taco Bell, Rally’s, Mission BBQ, Arby’s, Tropical Smoothie Café, Panda, Domino’s Pizza, and Freddy’s Frozen Custard and Steakburgers. With over 28,500 vpd, this Popeyes location is in the center of many high growth neighborhoods with a total population over 135,000 in a 5-mile radius from the restaurant.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

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