Skip to main content

Restaurant

Popeyes Rankin Hwy Midland, TX 20 Year NNN Sale Leaseback

2705 Rankin Hwy, Midland, TX 79706

Listing Price: $3,563,218

Cap Rate
4.35%
Tenant Name
Popeyes
Guarantor
Franchisee Guarantee
Rentable SF
3,421
Lease Type
NNN Ground Lease
Rent Per Square Feet
$45.31

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 2705 Rankin Hwy Midland, TX. The property consists of a large 1.29 acre parcel improved with an approximately 3,421-square foot building with two points of ingress and egress. The restaurant will have a brand new 20-year absolute net ground lease at the close of escrow with a seasoned RBI Brands Franchisee. Annual base rent is set at $155,000 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 off the exit of Interstate 20 which experiences traffic counts exceeding 48,000 cars per day. Rankin Highway, directly in front of the property experiences daily traffic counts exceeding 18,000. Population within five miles exceeds 103,000. The population is estimated to grow by 9% in the next four years. The average household income is over $95,000 also within a five mile radius. Within the immediate trade area is located Pilot Travel Center, Flatland Energy Services, Walmart, McDonalds, Hampton Inn, Tractor Supply, and Burger King to name a few.

Investment Highlights

  • BRAND NEW 20 YEAR ABSOLUTE NET GROUND LEASE
  • HIGH INCOME DEMOGRAPHICS
  • INTERSTATE EXIT

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Restaurant

Popeyes Rankin Hwy Midland, TX 20 Year NNN Sale Leaseback

Listing Price: $3,563,218

Cap Rate
4.35%
Tenant Name
Popeyes
Guarantor
Franchisee Guarantee
Rentable SF
3,421
Lease Type
NNN Ground Lease
Rent Per Square Feet
$45.31

Investment Highlights

  • BRAND NEW 20 YEAR ABSOLUTE NET GROUND LEASE
  • HIGH INCOME DEMOGRAPHICS
  • INTERSTATE EXIT

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 2705 Rankin Hwy Midland, TX. The property consists of a large 1.29 acre parcel improved with an approximately 3,421-square foot building with two points of ingress and egress. The restaurant will have a brand new 20-year absolute net ground lease at the close of escrow with a seasoned RBI Brands Franchisee. Annual base rent is set at $155,000 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 off the exit of Interstate 20 which experiences traffic counts exceeding 48,000 cars per day. Rankin Highway, directly in front of the property experiences daily traffic counts exceeding 18,000. Population within five miles exceeds 103,000. The population is estimated to grow by 9% in the next four years. The average household income is over $95,000 also within a five mile radius. Within the immediate trade area is located Pilot Travel Center, Flatland Energy Services, Walmart, McDonalds, Hampton Inn, Tractor Supply, and Burger King 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