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Popeyes, Eastman, GA

Popeyes

Eastman, GA

Price $2,420,000
Cap Rate 5.00%
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 Available
Lead Broker Information 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 130+ 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

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