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Popeyes | NNN (Fee-Simple) | Houston, TX 18550 Northwest Fwy 2,165 SF Retail Building Houston, TX 77065 $2,618,097 CAD ($1,209.28 CAD/SF) 5.50% Cap Rate
INVESTMENT HIGHLIGHTS
- ±9-Years Remaining on Absolute NNN Lease With Zero Landlord Responsibilities
- Located on U.S. 290 With ±153,790 Vehicles Per Day in Northwest Houston Retail Corridor
- 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%
- ±2,165 SF Popeyes With Drive-Thru on ±0.57 Acres Shadow Anchored by High-Performing Sam’s Club
- 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 18550 NW Freeway (U.S. 290) in Houston, Texas. The property is subject to a 10-year absolute NNN lease that commenced in April 2024, with zero landlord responsibilities, 10% rent increases every five years (in addition to percentage rent), and two (2) five-year renewal options.
This ±2,165-square-foot restaurant with drive-thru is located on ±0.57 acres at the signalized intersection of U.S. Highway 290 and W Little York Road, with visibility to ±153,790 vehicles per day. The property sits in a dense retail corridor shadow anchored by high-performing Sam’s Club and nearby dozens of national retailers and car dealerships, and serves a 5-mile trade area with over 270,000 residents and 200,000+ employees.
The tenant is CSM Group, a top-tier Popeyes operator with about 120 locations across Texas, Missouri, and Kansas. The franchisee has been awarded Popeyes Franchisee of the Year for two consecutive years and is actively expanding through remodels and new-builds as part of the brand’s “Easy to Love” revitalization initiative.
This ±2,165-square-foot restaurant with drive-thru is located on ±0.57 acres at the signalized intersection of U.S. Highway 290 and W Little York Road, with visibility to ±153,790 vehicles per day. The property sits in a dense retail corridor shadow anchored by high-performing Sam’s Club and nearby dozens of national retailers and car dealerships, and serves a 5-mile trade area with over 270,000 residents and 200,000+ employees.
The tenant is CSM Group, a top-tier Popeyes operator with about 120 locations across Texas, Missouri, and Kansas. The franchisee has been awarded Popeyes Franchisee of the Year for two consecutive years and is actively expanding through remodels and new-builds as part of the brand’s “Easy to Love” revitalization initiative.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,165 SF
Building Class
C
Year Built
2001
Price
$2,618,097 CAD
Price Per SF
$1,209.28 CAD
Cap Rate
5.50%
NOI
$143,995 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.57 AC
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 1205530010003 | Improvements Assessment | $638,800 CAD |
| Land Assessment | $521,715 CAD | Total Assessment | $1,160,515 CAD |
PROPERTY TAXES
Parcel Number
1205530010003
Land Assessment
$521,715 CAD
Improvements Assessment
$638,800 CAD
Total Assessment
$1,160,515 CAD
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Popeyes | NNN (Fee-Simple) | Houston, TX | 18550 Northwest Fwy
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