POPEYES NNN – Tallahassee FL

 

  • Price: US $ 2,620,000
  • Property Type: Free standing                    
  • Occupancy: 100%
  • CAP: 5.75%
  • Building Area: approx. 2,265 SF = 210 m²
  • Lot:  approx. 47,864 SF = 4477 m²
  • NOI: US $150,715
  • Annual Expenses: 0 (Zero) NNN- Tenant responsible for all expenses including property tax, insurance and maintenance
  • Contract Terms: 15 years New
  • Increases: 10% every 5 year
  • Extensions: 5 – 5 years’ options
  • Guarantor: 94 UNIT Franchise -Seasoned Operator, Largest Popeyes Franchisee in the Southeast
  • Location: Located on a busy signalized intersection with traffic counts ranging from 29,500 VPD along Apalachee Parkway to 41,500 VPD along Capital Circle. The site benefits from ingress and egress from both cross streets. An outparcel to a Rooms To Go Furniture Store anchored shopping center, the restaurant is less than 10 minutes from both the Florida State University (FSU) campus and Florida A&M University. The restaurant also serves a trade area heavy with state government buildings including the Florida