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Restaurant

Popeyes Sale Leaseback 20 Year NNN Lease

2505 82nd St, Lubbock, TX 79423

Listing Price: $2,221,641

Cap Rate
3.90%
Tenant Name
Popeyes
Guarantor
Corporate Guarantee
Rentable SF
1,678
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$51.64

Investment Overview

Marcus & Millichap is pleased to present for sale this Popeye’s Louisiana kitchen restaurant located at 2505 82nd Street in Lubbock Texas. Lubbock is the 11th most populous city in Texas with a population over 258,862. It’s nickname “Hub City” derives from being the economic, educational, and health hub of the multicounty region north of Permian Basement and south of the Texas Panhandle. Numerous universities surround this Popeye’s including Texas Tech University only 11 minutes away with 38,742 enrolled students, Wayland Baptist University with 4,062 students and Lubbock Christian University with 1,664 enrolled students. Many National Retailers are located close to this property including Walgreens, Sam’s Club, United Supermarkets and Prosperity Bank. South Plains Mall is a busy mall located just 11 minutes from Popeye’s with 119 stores including Dillard’s, JC Penney, H & M, Pandora, and Hollister. Many new home developments are also springing up in close vicinity including Ventura Homes by Jeff Seal, Roten Homes, Inc., Lubbock Champion Homes, Betenbough Homes, and Southern Homes by Dan Wilson. Popeye’s (Popeye’s Louisiana Kitchen, Inc.) is an American multinational chain of fried chicken fast food restaurants founded in 1972 in New Orleans and currently headquartered in Miami, Florida. As of 2020, Popeye’s had 3,451 restaurants located in 36 states, the District of Columbia, Puerto Rico and 30 countries worldwide. Annual income for Popeye’s Inc. exceeds 268.9 Million Dollars annually.

Investment Highlights

  • 20 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 Restaurant Located in Lubbock, Texas Population 258,862 & 11th Most Populous City in Texas
  • Numerous Retailers in Close Vicinity to Popeye's Include Walgreens, Sam's Club, United Supermarkets and Prosperity Bank

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: $2,221,641

Cap Rate
3.90%
Tenant Name
Popeyes
Guarantor
Corporate Guarantee
Rentable SF
1,678
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$51.64

Investment Highlights

  • 20 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 Restaurant Located in Lubbock, Texas Population 258,862 & 11th Most Populous City in Texas
  • Numerous Retailers in Close Vicinity to Popeye's Include Walgreens, Sam's Club, United Supermarkets and Prosperity Bank

Investment Overview

Marcus & Millichap is pleased to present for sale this Popeye’s Louisiana kitchen restaurant located at 2505 82nd Street in Lubbock Texas. Lubbock is the 11th most populous city in Texas with a population over 258,862. It’s nickname “Hub City” derives from being the economic, educational, and health hub of the multicounty region north of Permian Basement and south of the Texas Panhandle. Numerous universities surround this Popeye’s including Texas Tech University only 11 minutes away with 38,742 enrolled students, Wayland Baptist University with 4,062 students and Lubbock Christian University with 1,664 enrolled students. Many National Retailers are located close to this property including Walgreens, Sam’s Club, United Supermarkets and Prosperity Bank. South Plains Mall is a busy mall located just 11 minutes from Popeye’s with 119 stores including Dillard’s, JC Penney, H & M, Pandora, and Hollister. Many new home developments are also springing up in close vicinity including Ventura Homes by Jeff Seal, Roten Homes, Inc., Lubbock Champion Homes, Betenbough Homes, and Southern Homes by Dan Wilson. Popeye’s (Popeye’s Louisiana Kitchen, Inc.) is an American multinational chain of fried chicken fast food restaurants founded in 1972 in New Orleans and currently headquartered in Miami, Florida. As of 2020, Popeye’s had 3,451 restaurants located in 36 states, the District of Columbia, Puerto Rico and 30 countries worldwide. Annual income for Popeye’s Inc. exceeds 268.9 Million Dollars 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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