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Restaurant

Popeyes

3777 Choctaw Dr, Baton Rouge, LA 70805

Listing Price: $2,160,427

Cap Rate
5.15%
Tenant Name
SRG PLK OpCo, LLC (63 Units) d/b/a High Noon Restaurant Group
Years Remaining On Lease
23.4
Guarantor
Franchisee Guarantee
Lease Type
Absolute Net

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for 3777 Choctaw Drive in Baton Rouge, LA. This Popeyes is subject to a 25-year triple-net (NNN) lease, which commenced on August 18th, 2020. The base annual rent will be $111,262 and is subject to 1.75% annual rental escalations throughout the base term and in each of the two, five-year tenant renewal option periods. The lease will be guaranteed by SRG PLK OpCo, LLC, d/b/a High Noon Restaurant Group, which operates 63 locations throughout Louisiana. The property is roughly 2,344 rentable square feet and is situated on an approximately .79 acre parcel.

Investment Highlights

  • Over 24-Years Remaining on an Original 25-Year Absolute Triple Net (NNN) Lease
  • Attractive Rental Increases of 1.75% Annually
  • Two (2) Tenant Renewal Period of Five (5) Years
  • Strong Brand Recognition | Experienced Operator

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: $2,160,427

Cap Rate
5.15%
Tenant Name
SRG PLK OpCo, LLC (63 Units) d/b/a High Noon Restaurant Group
Years Remaining On Lease
23.4
Guarantor
Franchisee Guarantee
Lease Type
Absolute Net

Investment Highlights

  • Over 24-Years Remaining on an Original 25-Year Absolute Triple Net (NNN) Lease
  • Attractive Rental Increases of 1.75% Annually
  • Two (2) Tenant Renewal Period of Five (5) Years
  • Strong Brand Recognition | Experienced Operator

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for 3777 Choctaw Drive in Baton Rouge, LA. This Popeyes is subject to a 25-year triple-net (NNN) lease, which commenced on August 18th, 2020. The base annual rent will be $111,262 and is subject to 1.75% annual rental escalations throughout the base term and in each of the two, five-year tenant renewal option periods. The lease will be guaranteed by SRG PLK OpCo, LLC, d/b/a High Noon Restaurant Group, which operates 63 locations throughout Louisiana. The property is roughly 2,344 rentable square feet and is situated on an approximately .79 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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