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Popeyes | NNN (Fee-Simple) | Houston, TX 1509 W Fairmont Pky 2,123 SF Retail Building La Porte, TX 77571 $2,548,594 CAD ($1,200.47 CAD/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- ±8-Years Remaining on Absolute NNN Lease With Zero Landlord Responsibilities
- ±2,123 SF Popeyes With Drive-Thru on ±0.71 Acres | Strong Visibility Along Fairmont Pkwy
- Franchisee Operates ±120 Popeyes Units and Was Named 2024 & 2025 Popeyes Franchisee of the Year
- 10% Rent Increases Every 5 Years + Percentage Rent | Percentage Rent Kicks In at 8% of Sales Over Breakpoint if Annual Sales Exceed Prior Year by 5%
- Dense Retail Corridor Near Port of Houston With Surrounding Tenants Including Kroger, Wingstop, Jersey Mike’s, and Hampton Inn
- Part of Restaurant Brands International (NYSE: QSR) – $6.8B Revenue, 3,700+ Popeyes Locations Globally
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present the opportunity to acquire a freestanding Popeyes located at 1509 Fairmont Parkway in La Porte, Texas. This ±2,123-square-foot building sits on ±0.71 acres and is subject to a new 10-year absolute NNN lease that commenced in April 2024. The lease includes zero landlord responsibilities, 10% rent increases every five years, and two (2) five-year renewal options. A percentage rent provision allows for 8% of gross sales above a natural breakpoint, triggered only if annual sales exceed the prior year by more than 5%.
The property is situated along Fairmont Parkway, one of the primary east-west retail corridors in La Porte and Pasadena, with excellent visibility and traffic exposure. The surrounding area includes national retailers such as Kroger, Wingstop, Jersey Mike’s, Anytime Fitness, and Hampton Inn & Suites, and benefits from proximity to the Port of Houston and major employment centers. The location also serves a dense daytime population supported by schools, industrial parks, and residential communities.
The tenant is CSM Group, one of the largest and most respected Popeyes franchisees, operating about 120 locations across Texas, Kansas, and Missouri. CSM was named Popeyes Franchisee of the Year in both 2024 and 2025. This site is scheduled to undergo a full remodel to Popeyes’ new prototype by the end of 2032.
The property is situated along Fairmont Parkway, one of the primary east-west retail corridors in La Porte and Pasadena, with excellent visibility and traffic exposure. The surrounding area includes national retailers such as Kroger, Wingstop, Jersey Mike’s, Anytime Fitness, and Hampton Inn & Suites, and benefits from proximity to the Port of Houston and major employment centers. The location also serves a dense daytime population supported by schools, industrial parks, and residential communities.
The tenant is CSM Group, one of the largest and most respected Popeyes franchisees, operating about 120 locations across Texas, Kansas, and Missouri. CSM was named Popeyes Franchisee of the Year in both 2024 and 2025. This site is scheduled to undergo a full remodel to Popeyes’ new prototype by the end of 2032.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,123 SF
Building Class
B
Year Built
1992
Price
$2,548,594 CAD
Price Per SF
$1,200.47 CAD
Cap Rate
5.75%
NOI
$146,544 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.71 AC
AMENITIES
- 24 Hour Access
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0241800940004 | Improvements Assessment | $509,922 CAD |
| Land Assessment | $509,837 CAD | Total Assessment | $1,019,758 CAD |
PROPERTY TAXES
Parcel Number
0241800940004
Land Assessment
$509,837 CAD
Improvements Assessment
$509,922 CAD
Total Assessment
$1,019,758 CAD
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Popeyes | NNN (Fee-Simple) | Houston, TX | 1509 W Fairmont Pky
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