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Restaurant

Popeyes

15655 NW US Hwy 441, Alachua, FL 32615

Listing Price: $2,995,000

Cap Rate
4.65%
Tenant Name
Popeyes
Years Remaining On Lease
19.9
Gross SF
1,930
Guarantor
Franchisee Guarantee
Rentable SF
1,930
Price/Gross SF
$1,551.81
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$72.18

Investment Overview

Marcus & Millichap is pleased to present for sale this single-tenant, absolute triple-net lease Popeyes Louisiana Kitchen Restaurant investment opportunity located in Alachua, Florida, part of the Gainesville MSA . The property consists of a nearly 1.15-acre parcel improved with an approximately 1,930-square foot building. The newly constructed restaurant has a brand new 20-year lease in place with Sailormen, Inc, one of the largest domestic franchisees in the Popeyes system in Florida and Georgia, currently expanding their footprint. Annual base rent is set at $139,300* with 10 percent rental increases every five years in the base term, as well as each of the five five-year options. The new construction restaurant features Popeyes new Nola Makers image. The over-sized lot sits near the signalized intersection of US 441and NW 147 Drive, between the I-75 exit and the west entrance into Alachua. Strong traffic counts of near 23,000 cars per day, and a solid retail corridor anchored by Lowe’s is supported in part by several regional distribution centers, including Walmart, Sysco, Dollar General, and Cintas. Nearby retailers include a Dunkin’, McDonald’s, Wendy’s, Zaxby’s, Taco Bell, and Waffle House. Alachua is less than 30 minutes northwest of Gainesville and the University of Florida (UF) Gators. It is a growing MSA along I-75 corridor, and less than two hours from both Orlando to the south and Jacksonville to the north. Alachua  is home to the world’s largest freshwater natural springs and thus is considered a cave diving mecca. It is also where you can see and visit The Retirement Home for Horses at Mill Creek which provides a quiet countryside sanctuary to over 100 horse.

Investment Highlights

  • 20-Year Triple-Net Lease in Place with Sailormen Inc., One of the Largest Domestic Franchisees in the Popeyes System | 120+ Unit Guarantee
  • 2021 "Nola Makers" Image | Income Tax-Free State of Florida
  • Traffic Counts of 23,000 VPD Traveling Along US441 with an Additional 53,000 Vehicles Traveling Along I-75 Less Than One Mile from the Restaurant

Exclusively Listed By

Listing Price: $2,995,000

Cap Rate
4.65%
Tenant Name
Popeyes
Years Remaining On Lease
19.9
Gross SF
1,930
Guarantor
Franchisee Guarantee
Rentable SF
1,930
Price/Gross SF
$1,551.81
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$72.18

Investment Highlights

  • 20-Year Triple-Net Lease in Place with Sailormen Inc., One of the Largest Domestic Franchisees in the Popeyes System | 120+ Unit Guarantee
  • 2021 "Nola Makers" Image | Income Tax-Free State of Florida
  • Traffic Counts of 23,000 VPD Traveling Along US441 with an Additional 53,000 Vehicles Traveling Along I-75 Less Than One Mile from the Restaurant

Investment Overview

Marcus & Millichap is pleased to present for sale this single-tenant, absolute triple-net lease Popeyes Louisiana Kitchen Restaurant investment opportunity located in Alachua, Florida, part of the Gainesville MSA . The property consists of a nearly 1.15-acre parcel improved with an approximately 1,930-square foot building. The newly constructed restaurant has a brand new 20-year lease in place with Sailormen, Inc, one of the largest domestic franchisees in the Popeyes system in Florida and Georgia, currently expanding their footprint. Annual base rent is set at $139,300* with 10 percent rental increases every five years in the base term, as well as each of the five five-year options. The new construction restaurant features Popeyes new Nola Makers image. The over-sized lot sits near the signalized intersection of US 441and NW 147 Drive, between the I-75 exit and the west entrance into Alachua. Strong traffic counts of near 23,000 cars per day, and a solid retail corridor anchored by Lowe’s is supported in part by several regional distribution centers, including Walmart, Sysco, Dollar General, and Cintas. Nearby retailers include a Dunkin’, McDonald’s, Wendy’s, Zaxby’s, Taco Bell, and Waffle House. Alachua is less than 30 minutes northwest of Gainesville and the University of Florida (UF) Gators. It is a growing MSA along I-75 corridor, and less than two hours from both Orlando to the south and Jacksonville to the north. Alachua  is home to the world’s largest freshwater natural springs and thus is considered a cave diving mecca. It is also where you can see and visit The Retirement Home for Horses at Mill Creek which provides a quiet countryside sanctuary to over 100 horse.

Exclusively Listed By

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