Popeyes,
Alma, GA Investment Summary
| Price | $2,325,000 |
| Cap Rate | 4.34% |
| NOI | $101,000 |
| Lease Term | 20 Years |
| Lease Type | Absolute NNN, With Tenant Responsible For Taxes, Insurance, And Maintenance Of The Building And Property |
| Rental Increases | 10% Rental Increases Every Five (5) Years |
| Year Built | 2022 (Under Construction) |
| Building Size | 1,930 SF |
| Lot Size | 1.458 Acres (63,510 SF) |
| Status | Sold |
| 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
» 10% rental increases every five years, providing an excellent hedge against inflation
» Absolute NNN lease requires no landlord management, ideal for an out of area investor
» Long-term lease to strong and expanding operator with 130+ units
» Popeyes is the world’s second largest quick-service chicken concept, with 3,000 units
POPEYES CONTINUES TO GAIN MARKET SHARE
» Popeyes opened 146 new restaurants in the United States over the past year and nearly 200 globally despite the pandemic
» Popeyes sales remains 25 percent above pre-pandemic levels
» Popeyes is testing a new loyalty program as part of a company-wide effort to bolster its digital sales across all its brands
» Sales have surged at Popeyes since it debuted its new chicken sandwich nearly two years ago—unit volumes are now approximately $1.8 million per year, compared with $1.4 million beforehand
HIGH-VISIBILITY LOCATION IN GEORGIA SUBURB
» Located on Highway 1/North Pierce Street, with excellent visibility to 12,500 AADT
» Beneficial proximity to the signalized intersection of Highway 1/North Pierce Street and Highway 32/ 16th Street (18,810 AADT combined)
» Near Coastal Pines Technical College (6,332 students), providing a strong customer base for the site
» Less than a mile from Bacon County High School (577 students) and Bacon County Elementary School (481 students)
CENTRAL LOCATION NEAR MAJOR COMMUNITY HUBS
» Walking distance to Bacon County Hospital and Health System (113 beds)
» Central location in Downtown Alma, attracting crossover shopping to the location
» Surrounded by several local and national retailers, including Walgreens, Rite Aid, KFC, McDonald’s, Pizza Hut, Hardee’s, Dollar General, and many more
» Minutes from Days Inn by Wyndham Alma (36 rooms)
NEW 2022 CONSTRUCTION WITH DRIVE-THRU
» Features latest Popeyes prototype and store concepts and a dedicated dual-lane drive thru (80% of Popeyes business is through drive-thru)
» New building construction
Property Description
SOLD
The subject property is located on Highway 1/North Pierce Street with excellent visibility and convenient four-way access to the site. The location experiences increased traffic from its beneficial proximity to the signalized intersection of Highway 1/North Pierce Street and Highway 32/16th Street (18,810 AADT combined). The site is centrally located in Downtown Alma within the primary retail corridor, attracting crossover shopping to the location. The site is surrounded by a strong mix of well-established local and national retailers, including Walgreens, Rite Aid, KFC, McDonald’s, Pizza Hut, Hardee’s, Dollar General, and many more.
The property is nestled in a Georgia suburb near major community hubs. The site is next to Coastal Pines Technical College (6,332 students) and within walking distance to Bacon County Hospital and Health System (113 beds). The property benefits from its convenient location near the highly attended Bacon County High School (577 students) and Bacon County Elementary School (481 students). The site is minutes from Days Inn by Wyndham Alma (36 rooms), Heritage Villas of Alma (24 units), and Azalea Court Apartments (12 units).
