Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a freestanding Popeyes drive-thru located at 620 North Howard Street in Akron, Ohio. The ±2,520-square-foot restaurant is secured by a new 20-year sale-leaseback NNN lease commencing at close of escrow, with zero landlord responsibilities and four (4) five-year renewal options. The property generates $90,000 in annual base rent at a 6.00% cap rate, with scheduled 10% rent increases every five years providing consistent income growth. The lease is operated and guaranteed by an established 13-unit Popeyes franchisee, and the tenant is slated to remodel the location at their own expense in 2028. The property sits along North Howard Street (±7,000 VPD) at its signalized intersection with Tallmadge Avenue (±10,736 VPD), with access to State Route 8 (±100,071 VPD), Interstate 77, and Interstate 76. Nearby retailers include Home Depot, Best Buy, Sam's Club, and Lowe's at The Plaza at Chapel Hill Shopping Center. The 3-mile trade area holds 104,813 residents with an average household income of $69,312, supported by The University of Akron (15,000+ enrollment), Cleveland Clinic Akron General (500+ beds), and Summa Health (600+ beds). The asset sits within the Akron MSA (706,559 residents), pairing brand strength from Popeyes' 3,700+ global locations under Restaurant Brands International (S&P: BB) with passive, long-term net-lease income.