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Restaurant

Popeyes (Leasehold Interest)

2802 Wrightsboro Rd, Augusta, GA 30909

Listing Price: $1,714,286

Cap Rate
7.00%
Tenant Name
Popeyes
Years Remaining On Lease
8.9
Gross SF
3,378
Guarantor
Franchisee Guarantee
Rentable SF
3,378
Price/Gross SF
$507.49
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$35.52

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire leasehold interest in the Popeyes fast food restaurant located on a hard corner lot in Augusta, Georgia. The operator is RRG, Inc., a 16-unit operator in Augusta and Charleston, SC, and this is the highest performing Popeyes in the Augusta MSA. The land is leased from Augusta's General Aviation Commission with ?ve, 5-year options remaining to renew the lease. Popeyes has just over 9 years remaining on their NNN lease and pays all expenses including the ground lease rent. Augusta, Georgia, is the home of Augusta National Golf Club, where the Masters Tournament is played each year. The Augusta-Richmond County metro consists of seven counties: Burke, Columbia, Lincoln, McDuf?e and Richmond counties in Georgia, and Aiken and Edge?eld counties in South Carolina. There are roughly 617,000 residents in the market and the region is projected to add 32,000 people and 14,200 households over the next ?ve years. The consolidated city-county of Augusta-Richmond contains approximately 203,000 citizens.

Investment Highlights

  • Leasehold Interest in NNN Popeyes Restaurant | Franchisee Guarantee | Highest Performing Location in the Augusta, GA MSA | 16 Total Locations in Augusta and Charleston, SC
  • Just Over 9 Years Remaining on NNN Lease | Tenant Pays All Expenses, Including Ground Lease Rent
  • Popeyes has Two, 5-Year Options to Renew with 10% Escalations | 5% Escalation Every 5 Years During Base Term
  • Ground Lease with General Aviation Commission | Five, 5-Year Options to Renew as of 7/31/2022
  • Tenant Reports Sales Monthly | Average Monthly Sales for 6/22 - 8/22= $140,980 | Long Term Tenancy of Almost 40 Years

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s) GA: 252904

    Georgia

Restaurant

Popeyes (Leasehold Interest)

Listing Price: $1,714,286

Cap Rate
7.00%
Tenant Name
Popeyes
Years Remaining On Lease
8.9
Gross SF
3,378
Guarantor
Franchisee Guarantee
Rentable SF
3,378
Price/Gross SF
$507.49
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$35.52

Investment Highlights

  • Leasehold Interest in NNN Popeyes Restaurant | Franchisee Guarantee | Highest Performing Location in the Augusta, GA MSA | 16 Total Locations in Augusta and Charleston, SC
  • Just Over 9 Years Remaining on NNN Lease | Tenant Pays All Expenses, Including Ground Lease Rent
  • Popeyes has Two, 5-Year Options to Renew with 10% Escalations | 5% Escalation Every 5 Years During Base Term
  • Ground Lease with General Aviation Commission | Five, 5-Year Options to Renew as of 7/31/2022
  • Tenant Reports Sales Monthly | Average Monthly Sales for 6/22 - 8/22= $140,980 | Long Term Tenancy of Almost 40 Years

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire leasehold interest in the Popeyes fast food restaurant located on a hard corner lot in Augusta, Georgia. The operator is RRG, Inc., a 16-unit operator in Augusta and Charleston, SC, and this is the highest performing Popeyes in the Augusta MSA. The land is leased from Augusta's General Aviation Commission with ?ve, 5-year options remaining to renew the lease. Popeyes has just over 9 years remaining on their NNN lease and pays all expenses including the ground lease rent. Augusta, Georgia, is the home of Augusta National Golf Club, where the Masters Tournament is played each year. The Augusta-Richmond County metro consists of seven counties: Burke, Columbia, Lincoln, McDuf?e and Richmond counties in Georgia, and Aiken and Edge?eld counties in South Carolina. There are roughly 617,000 residents in the market and the region is projected to add 32,000 people and 14,200 households over the next ?ve years. The consolidated city-county of Augusta-Richmond contains approximately 203,000 citizens.

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s): GA: 252904

    Georgia

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