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Restaurant

Popeyes | Sale Leaseback

876 N Eastern Blvd, Montgomery, AL 36117

Listing Price: $2,560,000

Cap Rate
5.25%
Tenant Name
Popeyes
Guarantor
Franchisee Guarantee
Rentable SF
3,196
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$42.05

Investment Overview

Marcus & Millichap is pleased to present for sale this single-tenant, absolute triple-net lease Popeyes Louisiana Kitchen Restaurant investment opportunity located at 876 N Eastern Blvd in East Montgomery, Alabama. The property consists of a 0.86 acre parcel improved with an approximately 2,532-square foot building. The newly constructed restaurant will have a brand new 20-year lease at the close of escrow with a seasoned RBI Brands Franchisee operating over 200 restaurants. This franchisee has been a Burger King and Popeyes operator for over a decade and is one of the fastest growing Franchisees in the entire system. In 2015, this operator was awarded “Franchisee of the Year”. Annual base rent is set at $134,400 with 7.5 percent rental increases every five years in the base term, as well as the four five-year renewal options. The restaurant is located directly on N Eastern Blvd which experiences traffic counts exceeding 31,000 cars per day. Eastern Blvd along with Northern, Western and Southern Boulevards make up continuous road that circumvents the stabilized market of Montgomery which has been a very steady market over the last decade. This property is only minutes from Faulkner University and Maxwell Airforce base. Montgomery is also the State capitol of Alabama and the county seat of Montgomery County. Several State Universities have campuses in Montgomery including Auburn, Troy, Alabama State University. Montgomery has also been recognized nationally for its downtown revitalization and new urbanism projects. It was one of the first cities to implement Smart Code Zoning.

Investment Highlights

  • Brand New 20-Year NNN Lease
  • 2019 Construction
  • Healthy Rent To Sales Ratio

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Restaurant

Popeyes | Sale Leaseback

Listing Price: $2,560,000

Cap Rate
5.25%
Tenant Name
Popeyes
Guarantor
Franchisee Guarantee
Rentable SF
3,196
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$42.05

Investment Highlights

  • Brand New 20-Year NNN Lease
  • 2019 Construction
  • Healthy Rent To Sales Ratio

Investment Overview

Marcus & Millichap is pleased to present for sale this single-tenant, absolute triple-net lease Popeyes Louisiana Kitchen Restaurant investment opportunity located at 876 N Eastern Blvd in East Montgomery, Alabama. The property consists of a 0.86 acre parcel improved with an approximately 2,532-square foot building. The newly constructed restaurant will have a brand new 20-year lease at the close of escrow with a seasoned RBI Brands Franchisee operating over 200 restaurants. This franchisee has been a Burger King and Popeyes operator for over a decade and is one of the fastest growing Franchisees in the entire system. In 2015, this operator was awarded “Franchisee of the Year”. Annual base rent is set at $134,400 with 7.5 percent rental increases every five years in the base term, as well as the four five-year renewal options. The restaurant is located directly on N Eastern Blvd which experiences traffic counts exceeding 31,000 cars per day. Eastern Blvd along with Northern, Western and Southern Boulevards make up continuous road that circumvents the stabilized market of Montgomery which has been a very steady market over the last decade. This property is only minutes from Faulkner University and Maxwell Airforce base. Montgomery is also the State capitol of Alabama and the county seat of Montgomery County. Several State Universities have campuses in Montgomery including Auburn, Troy, Alabama State University. Montgomery has also been recognized nationally for its downtown revitalization and new urbanism projects. It was one of the first cities to implement Smart Code Zoning.

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

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