Skip to main content

Restaurant

Popeyes

105 Lite-N-Tie Rd, Gray, GA 31032

Listing Price: $2,275,000

Cap Rate
5.10%
Tenant Name
Popeyes
Years Remaining On Lease
12.4
Gross SF
2,265
Guarantor
Franchisee Guarantee
Rentable SF
2,265
Price/Gross SF
$1,004.42
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$51.21

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 Gray, Georgia, part of the Macon MSA. The property consists of a .84-acre parcel improved with an approximately 2,265-square foot building. The recently constructed restaurant has over 12 years remaining of the original 15-year lease with Sailormen, Inc, one of the largest domestic franchisees of Popeyes Louisiana Kitchen restaurants, currently operating more than 120 locations in Florida and Georgia. Annual base rent is set at $116,000 with 10 percent rental increases every five years in the base term, as well as the five five-year renewal options. The Popeyes is located on a signalize hard corner along Gray Hwy/US 129, which leads directly into Downtown Macon. Nearby retailers include McDonald’s, Dairy Queen, Krystal, Zaxby’s, Waffle House and Huddle House. The town of Gray is in the midst of a stimulating aerospace, automotive and healthcare region. Dubbed Georgia's “Aerospace Corridor”, the region of middle Georgia is home to more than 100 aerospace companies and contractors, Robins Air Force Base, and the thriving city of Macon. Direct access to I-16 and I-75, along with Gray’s proximity to the port city of Savannah and Atlanta, makes it an ideal location for new, expanding and existing business and industry.

Investment Highlights

  • More than 12 Years Remaining | Absolute NNN Lease
  • Sailormen Guarantee | 120+ Unit Operator in FL and GA
  • Strong Traffic Counts and High-Income Population within 3-Mile Radius

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s) GA: 252904

    Georgia

Listing Price: $2,275,000

Cap Rate
5.10%
Tenant Name
Popeyes
Years Remaining On Lease
12.4
Gross SF
2,265
Guarantor
Franchisee Guarantee
Rentable SF
2,265
Price/Gross SF
$1,004.42
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$51.21

Investment Highlights

  • More than 12 Years Remaining | Absolute NNN Lease
  • Sailormen Guarantee | 120+ Unit Operator in FL and GA
  • Strong Traffic Counts and High-Income Population within 3-Mile Radius

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 Gray, Georgia, part of the Macon MSA. The property consists of a .84-acre parcel improved with an approximately 2,265-square foot building. The recently constructed restaurant has over 12 years remaining of the original 15-year lease with Sailormen, Inc, one of the largest domestic franchisees of Popeyes Louisiana Kitchen restaurants, currently operating more than 120 locations in Florida and Georgia. Annual base rent is set at $116,000 with 10 percent rental increases every five years in the base term, as well as the five five-year renewal options. The Popeyes is located on a signalize hard corner along Gray Hwy/US 129, which leads directly into Downtown Macon. Nearby retailers include McDonald’s, Dairy Queen, Krystal, Zaxby’s, Waffle House and Huddle House. The town of Gray is in the midst of a stimulating aerospace, automotive and healthcare region. Dubbed Georgia's “Aerospace Corridor”, the region of middle Georgia is home to more than 100 aerospace companies and contractors, Robins Air Force Base, and the thriving city of Macon. Direct access to I-16 and I-75, along with Gray’s proximity to the port city of Savannah and Atlanta, makes it an ideal location for new, expanding and existing business and industry.

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s): GA: 252904

    Georgia

MM Texture Background
MM Textured Background Lower