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Popeyes | 12+yrs Remain Abs NNN 809 Highway 51 N 3,165 SF Retail Building Covington, TN 38019 $1,856,732 CAD ($586.65 CAD/SF) 6.15% Cap Rate
Investment Highlights
- 12+ Years Remaining | Options To Extend | 10% Rental Increases | Corporate Signature | Drive-Thru Equipped
- Dense Retail Corridor | Steps From Park Plaza
- Direct Residential Consumer Base
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Frontage On US-51 (18,600 VPD)
Executive Summary
• More than 12 years of remaining primary term with two (2) 5-year renewal options, providing stable in-place income and long-term extension potential
• 10% rental increases every 5 years during the primary term and at the beginning of each option period support NOI growth and provide a hedge against inflation
• The tenant, Popeyes Louisiana Kitchen, Inc., is a corporate entity for Popeyes, one of the world’s largest chicken QSR brands with more than 5,000 locations
• The property features drive-thru infrastructure, promoting efficient customer flow and supporting tenant performance
• 10% rental increases every 5 years during the primary term and at the beginning of each option period support NOI growth and provide a hedge against inflation
• The tenant, Popeyes Louisiana Kitchen, Inc., is a corporate entity for Popeyes, one of the world’s largest chicken QSR brands with more than 5,000 locations
• The property features drive-thru infrastructure, promoting efficient customer flow and supporting tenant performance
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,165 SF
Building Class
C
Year Built/Renovated
1986/2018
Price
$1,856,732 CAD
Price Per SF
$586.65 CAD
Cap Rate
6.15%
NOI
$114,137 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.92 AC
Opportunity Zone
Yes
Zoning
B-2 - City / Highway Oriented Business District (B-2)
Parking
69 Spaces (21.8 Spaces per 1,000 SF Leased)
Frontage
107’ on US Hwy 51
Amenities
- Pylon Sign
- Restaurant
- Drive Thru
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
Founded in New Orleans in 1972 by Al Copeland, the company began as a small fried chicken restaurant and later became known for a Louisiana-inspired approach to quick-service dining. The business serves fried chicken, chicken sandwiches, tenders, seafood, biscuits, desserts, and regional sides, with franchising forming a major part of the operating model. A broad restaurant network now supports service across the United States and international markets, and digital ordering, delivery, and franchise development remain part of the company's business mix.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 025K-A-022.00 | Improvements Assessment | $221,959 CAD |
| Land Assessment | $78,193 CAD | Total Assessment | $300,151 CAD |
Property Taxes
Parcel Number
025K-A-022.00
Land Assessment
$78,193 CAD
Improvements Assessment
$221,959 CAD
Total Assessment
$300,151 CAD
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Popeyes | 12+yrs Remain Abs NNN | 809 Highway 51 N
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