Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a freestanding Popeyes located at 2904 61st Street in Galveston, Texas. The property is subject to a 10-year absolute NNN lease that commenced in April 2024, with zero landlord responsibilities, 10% rent increases every five years (in addition to percentage rent), and two (2) five-year renewal options. Situated along 61st Street, one of Galveston’s primary coastal corridors, the ±2,370-square-foot Popeyes benefits from visibility to ±13,770 vehicles per day and proximity to over 5,000 hotel rooms and 8.9 million annual visitors. The site is surrounded by national tenants including Walmart, CVS, Kroger, Starbucks, McDonald’s, and Wingstop, and offers easy access to both Seawall Boulevard and Interstate 45. The tenant is CSM Group, a top-tier Popeyes operator with 120+ locations across Texas, Missouri, and Kansas. The franchisee has been awarded Popeyes Franchisee of the Year for two consecutive years and is actively expanding through remodels and new-builds as part of the brand’s “Easy to Love” revitalization initiative. Priced at $2,864,148 with $154,664 in current base rent and upside potential through a unique percentage rent clause separate from and in addition to the 10%/5-Year rent increases, this asset offers a passive, high-credit investment with income upside tied to performance.