Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a freestanding Popeyes Louisiana Kitchen drive-thru located along Lorain Avenue in West Cleveland, Ohio. This asset features a brand-new 20-year NNN sale-leaseback with zero landlord responsibilities, guaranteed by an experienced 13-unit Popeyes franchisee. The offering provides investors with long-term, passive income in a dense, high-traffic infill corridor within one of the Midwest’s most established and diversified metropolitan areas. Strategically positioned along Lorain Avenue—a major commercial artery connecting West Park, Lakewood, and Downtown Cleveland—the property benefits from strong daily traffic, excellent visibility, and convenient access to I-90 and I-71. The drive-thru format aligns with Popeyes’ high-volume operating model, capturing commuter, residential, and workforce demand from surrounding neighborhoods and employment centers. The site is surrounded by national retailers including Burlington, Ross, ALDI, McDonald’s, Taco Bell, and Rally’s, reinforcing the corridor’s role as a key West Side retail destination. The property is supported by a dense residential base across West Park, Kamm’s Corners, and Lakewood, along with proximity to Cleveland Hopkins International Airport, the Cleveland Clinic system, and major corporate employers. These anchors drive consistent daytime population and year-round sales performance. The new 20-year NNN lease includes scheduled 10% rent increases every five years and four five-year renewal options, providing built-in income growth and long-term occupancy stability. This Popeyes represents a compelling opportunity to acquire a high-performing, nationally recognized QSR asset in a mature, infill Cleveland location with strong demographic support, proven franchisee backing, and fully passive long-term cash flow.