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Restaurant

Popeyes

9144 103rd St, Jacksonville, FL 32210

Listing Price: $2,794,000

Cap Rate
4.50%
Tenant Name
Popeyes
Years Remaining On Lease
20.0
Gross SF
2,146
Guarantor
Franchisee Guarantee
Rentable SF
2,146
Price/Gross SF
$1,301.96
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$58.59

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 Jacksonville, Florida, the largest city in the state. The property consists of a nearly .81-acre parcel improved with an approximately 2,146-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 $125,743* with 2 percent annual increases in the base term, as well as each of the four five-year options. The new construction restaurant features Popeyes new Nola Makers image and is located less than 20 minutes south of Downtown Jacksonville and within 15 minutes of the Jacksonville Naval Air Station, the largest Navy base in the Southeast region and third in the nation. Also nearby are the Westview K-8 School, Bishop John Snyder High School and Duval Charter Academy with combined enrollments of more than 1,700 students. Strong traffic counts of 39,270 cars per day along 103rd and Lambing, and a solid residential corridor anchored by dense multifamily dwellings. The restaurant is also close to two regional airports, Herlong Recreational and Cecil Airport and just off the First Coast Expressway, an extension running North/South, connecting the growing communities of west Jacksonville. 103rd Street also provides easy access to the 295 Beltway encircling the city of Jacksonville.

Investment Highlights

  • Desirable Jacksonville, FL | Income Tax-Free State
  • Brand New 2021 Construction | New 20-Year Lease
  • Two Percent Annual Increases | Four Five-Year Options

Exclusively Listed By

Listing Price: $2,794,000

Cap Rate
4.50%
Tenant Name
Popeyes
Years Remaining On Lease
20.0
Gross SF
2,146
Guarantor
Franchisee Guarantee
Rentable SF
2,146
Price/Gross SF
$1,301.96
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$58.59

Investment Highlights

  • Desirable Jacksonville, FL | Income Tax-Free State
  • Brand New 2021 Construction | New 20-Year Lease
  • Two Percent Annual Increases | Four Five-Year Options

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 Jacksonville, Florida, the largest city in the state. The property consists of a nearly .81-acre parcel improved with an approximately 2,146-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 $125,743* with 2 percent annual increases in the base term, as well as each of the four five-year options. The new construction restaurant features Popeyes new Nola Makers image and is located less than 20 minutes south of Downtown Jacksonville and within 15 minutes of the Jacksonville Naval Air Station, the largest Navy base in the Southeast region and third in the nation. Also nearby are the Westview K-8 School, Bishop John Snyder High School and Duval Charter Academy with combined enrollments of more than 1,700 students. Strong traffic counts of 39,270 cars per day along 103rd and Lambing, and a solid residential corridor anchored by dense multifamily dwellings. The restaurant is also close to two regional airports, Herlong Recreational and Cecil Airport and just off the First Coast Expressway, an extension running North/South, connecting the growing communities of west Jacksonville. 103rd Street also provides easy access to the 295 Beltway encircling the city of Jacksonville.

Exclusively Listed By

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