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Restaurant

Popeyes Sale Leaseback 20 Year NNN Lease

8519 W Bellfort St, Houston, TX 77071

Listing Price: $3,382,359

Cap Rate
3.90%
Tenant Name
Popeyes
Guarantor
Corporate Guarantee
Rentable SF
2,118
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$62.28

Investment Overview

Marcus and Millichap is pleased to present for sale this Popeye’s Louisiana Kitchen Restaurant located at 8519 W. Bellfort Boulevard in Houston, Texas. Houston is the most populous city in the state of Texas and the 4th most populous city in the entire United States with a population exceeding 2,304,580 and part of the Greater Houston Metro Statistical Area. Houston is located in Southeast Texas near Galveston Bay and the Gulf of Mexico. Houston has continued to grow steadily seeing its population grow over 17 percentfrom 2000 to 2019 and it continues to grow. Oil and Gas fuel Houston’s economic growth with major corporations Exxon Mobil, Phillips 66, Conoco Phillips, Occidental Petroleum and Halliburton all calling Houston home. This thriving Popeye’s Restaurant is surrounded by numerous brand-new luxury home developments including Mustang Trails by Centex Homes which is completely sold out, Avalon at Riverstone 60’s with 100 homesites completely sold out, Briarmont by Pulte Homes with 110 homesites, Brittmore Crossing by David with 95 homesites, Imperial Antison by Meritage and Park Edge by DR Horton and many, many more to support the population growth in this area. Many universities also surround this Popeye’s Restaurant including University West (9,500 Students and 1,000 Faculty), InterContinental University Houston (231 Students) North American University (38,213 StudentsWestwood College Houston, Houston Community College Houston (57,200 Students) and Houston Baptist University (2,733 Students). 15 minutes from the property is Louis Welch Middle School (721 Students) and Audrey Larson Middle School (802 Students). Only 12 minutes from this property is Memorial Hospital Southwest (561 Beds), UTMB (130 Beds) and Atrium Medical Center (68 Beds). Also nearby this property is Galleria Mall, A Simon Property with 3 million square feet and 400 prime stores. Popeye’s Louisiana Kitchen, Inc., also known as Popeye’s, is a famous American multinational chain of fried chicken fast food restaurants that was founded in 1972 in New Orleans and is today headquartered in Miami, Florida. As of 2020 Popeye’s has 3,451 restaurants located in more than 46 states and the District of Columbia and Puerto Rico and 30 countries worldwide. Annual income for Popeye’s Louisiana Kitchen, Inc. averages over 268.9 million annually.

Investment Highlights

  • 15 Year Absolute NNN Sale Leaseback
  • Strong 140+ Unit Franchisee Guarantee
  • 7.55% Rent Increases every 5 Years during the Base Term and Options
  • Popeye's Louisiana Kitchen has 3,451 Restaurants in 46 States and 30 Nations Worldwide

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Restaurant

Popeyes Sale Leaseback 20 Year NNN Lease

Listing Price: $3,382,359

Cap Rate
3.90%
Tenant Name
Popeyes
Guarantor
Corporate Guarantee
Rentable SF
2,118
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$62.28

Investment Highlights

  • 15 Year Absolute NNN Sale Leaseback
  • Strong 140+ Unit Franchisee Guarantee
  • 7.55% Rent Increases every 5 Years during the Base Term and Options
  • Popeye's Louisiana Kitchen has 3,451 Restaurants in 46 States and 30 Nations Worldwide

Investment Overview

Marcus and Millichap is pleased to present for sale this Popeye’s Louisiana Kitchen Restaurant located at 8519 W. Bellfort Boulevard in Houston, Texas. Houston is the most populous city in the state of Texas and the 4th most populous city in the entire United States with a population exceeding 2,304,580 and part of the Greater Houston Metro Statistical Area. Houston is located in Southeast Texas near Galveston Bay and the Gulf of Mexico. Houston has continued to grow steadily seeing its population grow over 17 percentfrom 2000 to 2019 and it continues to grow. Oil and Gas fuel Houston’s economic growth with major corporations Exxon Mobil, Phillips 66, Conoco Phillips, Occidental Petroleum and Halliburton all calling Houston home. This thriving Popeye’s Restaurant is surrounded by numerous brand-new luxury home developments including Mustang Trails by Centex Homes which is completely sold out, Avalon at Riverstone 60’s with 100 homesites completely sold out, Briarmont by Pulte Homes with 110 homesites, Brittmore Crossing by David with 95 homesites, Imperial Antison by Meritage and Park Edge by DR Horton and many, many more to support the population growth in this area. Many universities also surround this Popeye’s Restaurant including University West (9,500 Students and 1,000 Faculty), InterContinental University Houston (231 Students) North American University (38,213 StudentsWestwood College Houston, Houston Community College Houston (57,200 Students) and Houston Baptist University (2,733 Students). 15 minutes from the property is Louis Welch Middle School (721 Students) and Audrey Larson Middle School (802 Students). Only 12 minutes from this property is Memorial Hospital Southwest (561 Beds), UTMB (130 Beds) and Atrium Medical Center (68 Beds). Also nearby this property is Galleria Mall, A Simon Property with 3 million square feet and 400 prime stores. Popeye’s Louisiana Kitchen, Inc., also known as Popeye’s, is a famous American multinational chain of fried chicken fast food restaurants that was founded in 1972 in New Orleans and is today headquartered in Miami, Florida. As of 2020 Popeye’s has 3,451 restaurants located in more than 46 states and the District of Columbia and Puerto Rico and 30 countries worldwide. Annual income for Popeye’s Louisiana Kitchen, Inc. averages over 268.9 million annually.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

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