Skip to main content

Restaurant

Popeyes Big Spring Midland, TX 20 Year NNN Lease

3002 N Big Spring St, Midland, TX 79705

Listing Price: $3,655,900

Cap Rate
4.65%
Tenant Name
Popeyes
Guarantor
Franchisee Guarantee
Rentable SF
1,948
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$87.27

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 3002 N Big Spring Midland, TX. The property consists of a large 0.62 acre parcel improved with an approximately 1,948-square foot building with three points of ingress and egress. The restaurant will have a brand new 20-year absolute triple-net lease at the close of escrow with a seasoned RBI Brands Franchisee. Annual base rent is set at $170,000 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 the corner of N Big Spring St and W Dengar Ave which experiences traffic counts exceeding 28,000 cars per day. N Big Spring St is a major thoroughfare which runs north to south through Midland. Population within five miles exceeds 135,000. The population is estimated to grow by 9% in the next four years. The average household income is over $116,000 also within a five mile radius. Within the immediate trade area is located the Midland Airport, Midland College the Claydesta Business Center as well as retailers such as CVS, Walgreens, Wells Fargo, Black Rifle Coffee, and West Texas National Bank to name a few.

Investment Highlights

  • BRAND NEW 20 YEAR ABSOLUTE NNN LEASE
  • HIGH INCOME DEMOGRAPHICS
  • CORNER LOCATION

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Restaurant

Popeyes Big Spring Midland, TX 20 Year NNN Lease

Listing Price: $3,655,900

Cap Rate
4.65%
Tenant Name
Popeyes
Guarantor
Franchisee Guarantee
Rentable SF
1,948
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$87.27

Investment Highlights

  • BRAND NEW 20 YEAR ABSOLUTE NNN LEASE
  • HIGH INCOME DEMOGRAPHICS
  • CORNER LOCATION

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 3002 N Big Spring Midland, TX. The property consists of a large 0.62 acre parcel improved with an approximately 1,948-square foot building with three points of ingress and egress. The restaurant will have a brand new 20-year absolute triple-net lease at the close of escrow with a seasoned RBI Brands Franchisee. Annual base rent is set at $170,000 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 the corner of N Big Spring St and W Dengar Ave which experiences traffic counts exceeding 28,000 cars per day. N Big Spring St is a major thoroughfare which runs north to south through Midland. Population within five miles exceeds 135,000. The population is estimated to grow by 9% in the next four years. The average household income is over $116,000 also within a five mile radius. Within the immediate trade area is located the Midland Airport, Midland College the Claydesta Business Center as well as retailers such as CVS, Walgreens, Wells Fargo, Black Rifle Coffee, and West Texas National Bank to name a few.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

MM Texture Background
MM Textured Background Lower