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Restaurant

20 Year Popeyes-Cash Flow Exceeds Purchase Price

9490 W Okeechobee Rd, Hialeah Gardens, FL 33016

Listing Price: $3,131,000

Cap Rate
4.75%
Tenant Name
Metro Chicken of Hialeah Gardens
Years Remaining On Lease
19.6
Guarantor
Personal Guarantee
Rentable SF
3,087
Lease Type
Absolute Net
Rent Per Square Feet
$48.19

Investment Overview

Marcus & Millichap is pleased to present a prime investment opportunity located at 9490 W Okeechobee Rd, Hialeah Gardens, FL, The asset is subject to a long-term lease with Popeyes Louisiana Kitchen. The asset consists of a 3,087 square foot building on a 23,392 SF parcel of land. This property is underpinned by a solid absolute net lease to a renowned brand, guaranteed by an experienced franchisee that has been with Popeyes for over 33 years, & a new 20-year lease term.

Strategically positioned with its frontage on a street boasting traffic counts of over 14,300 vehicles per day, and prominent visibility from West Okeechobee Road, which sees over 50,600 vehicles per day, the property benefits from exceptional exposure. Its proximity to the Palmetto Expressway, which has a staggering 208,000+ vehicles per day, further enhances its appeal and accessibility. It is an outparcel to BJ’s Wholesale Club and adjacent to a Walmart Super Center with abundant activity in the immediate area. This Popeyes real estate asset presents a secure, long-term investment thanks to its absolute net lease structure, 10% rental increases every 5 years, and a 20-year initial lease term.

With an infill population of 195,155 residents within a 3-mile radius, the site is situated in a densely populated and growing region of Hialeah Gardens, FL. This demographic foundation supports a steady and loyal customer base, further solidifying the investment's stability and growth potential.

Investing in this property offers the chance to own a recently renovated and re-imaged asset with a successful and well-regarded tenant, on a long-term lease. Its strategic location, coupled with the strength of the Popeyes brand and the favorable lease terms, positions this investment as an attractive proposition with significant upside potential in a burgeoning commercial development area.

Investment Highlights

  • Long Term Lease – 20 Years Remaining
  • Absolute NNN Lease – Zero Landlord Obligations
  • Top Performing QSR – Popeyes Ranked #16 of Top 50 QSR Chains in 2023
  • Excellent Access & Visibility – Adjacent to W Okeechobee Rd – 64,000+ VPD
  • Significant Tenant Investment – Building Renovated & Reimaged by Franchisee
  • Popeye's Franchisee Has More Than 33 Years of Experience
  • Densely Populated – 195,000+ Residents Within a 3 Mile Radius
  • Outparcel to BJ's Wholesale Club & Adjacent to Top Performing Walmart Supercenter – Ranked 3rd of 240 In The State of Florida

Exclusively Listed By

Financing By

Restaurant

20 Year Popeyes-Cash Flow Exceeds Purchase Price

Listing Price: $3,131,000

Cap Rate
4.75%
Tenant Name
Metro Chicken of Hialeah Gardens
Years Remaining On Lease
19.6
Guarantor
Personal Guarantee
Rentable SF
3,087
Lease Type
Absolute Net
Rent Per Square Feet
$48.19

Investment Highlights

  • Long Term Lease – 20 Years Remaining
  • Absolute NNN Lease – Zero Landlord Obligations
  • Top Performing QSR – Popeyes Ranked #16 of Top 50 QSR Chains in 2023
  • Excellent Access & Visibility – Adjacent to W Okeechobee Rd – 64,000+ VPD
  • Significant Tenant Investment – Building Renovated & Reimaged by Franchisee
  • Popeye's Franchisee Has More Than 33 Years of Experience
  • Densely Populated – 195,000+ Residents Within a 3 Mile Radius
  • Outparcel to BJ's Wholesale Club & Adjacent to Top Performing Walmart Supercenter – Ranked 3rd of 240 In The State of Florida

Investment Overview

Marcus & Millichap is pleased to present a prime investment opportunity located at 9490 W Okeechobee Rd, Hialeah Gardens, FL, The asset is subject to a long-term lease with Popeyes Louisiana Kitchen. The asset consists of a 3,087 square foot building on a 23,392 SF parcel of land. This property is underpinned by a solid absolute net lease to a renowned brand, guaranteed by an experienced franchisee that has been with Popeyes for over 33 years, & a new 20-year lease term. Strategically positioned with its frontage on a street boasting traffic counts of over 14,300 vehicles per day, and prominent visibility from West Okeechobee Road, which sees over 50,600 vehicles per day, the property benefits from exceptional exposure. Its proximity to the Palmetto Expressway, which has a staggering 208,000+ vehicles per day, further enhances its appeal and accessibility. It is an outparcel to BJ’s Wholesale Club and adjacent to a Walmart Super Center with abundant activity in the immediate area. This Popeyes real estate asset presents a secure, long-term investment thanks to its absolute net lease structure, 10% rental increases every 5 years, and a 20-year initial lease term. With an infill population of 195,155 residents within a 3-mile radius, the site is situated in a densely populated and growing region of Hialeah Gardens, FL. This demographic foundation supports a steady and loyal customer base, further solidifying the investment's stability and growth potential. Investing in this property offers the chance to own a recently renovated and re-imaged asset with a successful and well-regarded tenant, on a long-term lease. Its strategic location, coupled with the strength of the Popeyes brand and the favorable lease terms, positions this investment as an attractive proposition with significant upside potential in a burgeoning commercial development area.

Exclusively Listed By

Financing By

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