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Popeyes, Cochran, GA

Popeyes

Cochran, Georgia

Price $2,689,000
Cap Rate 4.50%
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 +/- 1,930 SF
Lot Size 1.00 Acres (43,560 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 with 10% rental increases every five years, providing a 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 over 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 ramped up delivery significantly in the U.S. resulting in $250M in additional revenue

HIGH-VISIBILITY LOCATION NEAR LARGE SCHOOLS, HOSPITALS, AND COMMUNITY HUBS IN GEORGIA SUBURB
» Located at the signalized, four-way intersection of East Dykes Street and 6th Street Southeast with excellent visibility and access to 12,230 vehicles per day
» Beneficial proximity to U.S. Highway 23 (8,830 AADT)
» Across from Advance Auto Parts, with nearby tenants such as O’Reilly Auto Parts, CVS Pharmacy, Dollar Tree, and Subway, promoting crossover traffic to the location
» Walking distance to Cochran Inn & Suites (26 rooms) and less than a mile from Bleckley Memorial Hospital (25 beds)
» Near well-attended schools, including Bleckley County High School (678 students), Bleckley County Elementary School (589 students), and Bleckley County Middle School (536 students)
» One mile from Middle Georgia State University – Cochran Campus (1,357 students), a top area employer, providing a nearby, ideal customer base for the site
» Convenient location near several county offices including the Health Department, City Hall, and Sherriff’s office, increasing traffic in the area
» 33,921 residents with an average annual household income of $60,177 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)


Property Description

» Popeyes is located at the signalized, four way intersection of East Dykes Street and 6th Street Southeast, with excellent visibility and access to 12,230 vehicles per day
» The site is within walking distance to Cochran Inn & Suites (26 rooms) and less than a mile from Bleckley Memorial Hospital (25 beds)
» The property is also near several well-attended schools, including Bleckley County High School (678 students), Bleckley County Elementary School (589 students), and Bleckley County Middle School (536 students). Additionally, the property is one mile from Middle Georgia State University -Cochran Campus (1,357 students), a top employer in the area, providing a nearby, ideal customer base for the site
» 33,921 residents live within a 15-mile radius with an average annual household income of $60,177 (projected to increase 10 percent by 2026)
» The site is a 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). This property is in an ideal location in Georgia, which has a business climate that ranks number one in the nation for the eighth consecutive year by Site Selection. Area Development also ranked Georgia the top state for doing business for the seventh year in a row

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