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Restaurant

Popeye's

1601 Sampson St, Westlake, LA 70669

Listing Price: $2,464,692

Cap Rate
5.35%
Tenant Name
SRG PLK OpCo, LLC, d/b/a High Noon Restaurant Group (63 Units)
Years Remaining On Lease
24.6
Gross SF
1,800
Guarantor
Franchisee Guarantee
Rentable SF
1,800
Price/Gross SF
$1,369.27
Lease Type
Absolute Net
Rent Per Square Feet
$73.26

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for 1601 Sampson Street in Westlake, LA. This Popeyes is subject to a brand new 25-year triple-net (NNN) lease, which commenced on December 31st, 2020. The base annual rent is$131,861 and will be subject to 1.75% annual rental escalations starting in January 2027, continuing throughout the base term and in each of the two, five-year tenant renewal option periods. The lease is guaranteed by SRG PLK OpCo, LLC, d/b/a High Noon Restaurant Group, which operates 63 locations throughout Louisiana. The property is roughly 1,800 rentable square feet and is situated on an approximately .50 acre parcel.

Investment Highlights

  • Approximately 24-Years Remaining on an Original 25-Year Absolute NNN Lease
  • Attractive Rental Increases of 1.75% Annually Starting in January 2027
  • Two (2) Tenant Renewal Period of Five (5) Years
  • Strong Brand Recognition | Experienced Operator | 63-Units Within Louisiana

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Listing Price: $2,464,692

Cap Rate
5.35%
Tenant Name
SRG PLK OpCo, LLC, d/b/a High Noon Restaurant Group (63 Units)
Years Remaining On Lease
24.6
Gross SF
1,800
Guarantor
Franchisee Guarantee
Rentable SF
1,800
Price/Gross SF
$1,369.27
Lease Type
Absolute Net
Rent Per Square Feet
$73.26

Investment Highlights

  • Approximately 24-Years Remaining on an Original 25-Year Absolute NNN Lease
  • Attractive Rental Increases of 1.75% Annually Starting in January 2027
  • Two (2) Tenant Renewal Period of Five (5) Years
  • Strong Brand Recognition | Experienced Operator | 63-Units Within Louisiana

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for 1601 Sampson Street in Westlake, LA. This Popeyes is subject to a brand new 25-year triple-net (NNN) lease, which commenced on December 31st, 2020. The base annual rent is$131,861 and will be subject to 1.75% annual rental escalations starting in January 2027, continuing throughout the base term and in each of the two, five-year tenant renewal option periods. The lease is guaranteed by SRG PLK OpCo, LLC, d/b/a High Noon Restaurant Group, which operates 63 locations throughout Louisiana. The property is roughly 1,800 rentable square feet and is situated on an approximately .50 acre parcel.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

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