Popeyes,
Eastman, GA Investment Summary
| Price | $2,305,000 |
| Cap Rate | 5.25% |
| NOI | $121,000 |
| Lease Term | 20 Years |
| Lease Type | Absolute NNN, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot |
| Rental Increases | 10% Rental Increases Every Five (5) Years |
| Year Built | 2022 |
| Building Size | 2,146 SF |
| Lot Size | 2.71 Acres (118,048 SF) |
| Status | Under Contract |
| Lead Brokers | Vincent Aicale Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Managing Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
NEW 20-YEAR ABSOLUTE NNN LEASE
» New 20-year absolute NNN lease
» 10% rental increases every five years, providing an excellent hedge against inflation
» Requires no landlord management, ideal for an out-of-area investor
» Leased to Sailormen, a strong and expanding operator with 200+ units
» Popeyes is the world’s second-largest quick-service chicken concept, with 3,771+ units
POPEYES CONTINUES TO GAIN MARKET SHARE
» Popeyes opened 146 new restaurants in the U.S. over the past year and nearly 200 globally despite the pandemic
» Popeyes has ramped up delivery significantly in the U.S. resulting in $250M in additional revenue
HIGH-VISIBILITY LOCATION NEAR LARGE EASTMAN SCHOOLS, HOSPITALS, AND COMMUNITY HUBS
» Located along U.S. Route 23/Oak Street, with excellent visibility and access to 10,300 vehicles per day
» Walking distance from a Harvey Supermarkets-anchored shopping center, with nearby tenants such as Walmart Supercenter, McDonald’s, Zaxby’s, and Burger King, promoting crossover traffic to the location
» Across the street from Dodge County High School and Dodge County Middle School (combined 1,564 students), attracting significant lunchtime traffic
» Two miles from Dodge County Hospital (94 beds, 290 employees), a top area employer, providing a nearby, ideal customer base for the site
» 25,635 residents within a 15-mile radius
» Gateway to Atlanta, the most populous city in Georgia (498,715 residents), and the ninth-largest metro area in the U.S. (over six million people)
» Georgia’s business climate has been ranked #1 in the nation for the eighth consecutive year by Site Selection and Area Development ranked Georgia the top state for doing business for the seventh year in a row
NEW 2022 CONSTRUCTION
» Brand new 2022 high-quality construction
» Features latest Popeyes prototype and store concepts and a dedicated drive-thru (80% of Popeyes business is through the drive-thru)
» Large 2.71-acre parcel
Property Description
» The property is conveniently along U.S. Route 23/Oak Street, with excellent visibility and access to 10,300 vehicles per day
» Located in a large retail corridor, the property is walking distance from a Harvey Supermarkets-anchored shopping center, with nearby tenants such as Walmart Supercenter, McDonald’s, Zaxby’s, and Burger King, promoting crossover traffic to the location
» This Popeyes draws from a large and established customer base and resides across the street from Dodge County High School and Dodge County Middle School (combined 1,564 students), attracting significant lunchtime traffic
» Georgia’s business climate has been ranked #1 in the nation for the eighth consecutive year by Site Selection and Area Development ranked Georgia the top state for doing business for the seventh year in a row
» The location serves as a common gateway to Atlanta, the most populous city in Georgia (498,715 residents), and the ninth-largest metro area in the U.S. (over six million people)
» Two miles from Dodge County Hospital (94 beds, 290 employees), a top area employer
