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Popeye's 876 N Eastern Blvd 2,421 SF Retail Building Montgomery, AL 36117 $3,298,262 CAD ($1,362.36 CAD/SF) 6% Cap Rate
Investment Highlights
- Absolute NNN Lease: The property is secured by a long-term absolute NNN lease with approximately 16 years remaining, providing passive income
- Strong Demographics: The asset is supported by a dense population of 154,768 residents within a five-mile radius and over 20,000 daytime employees
- High-Traffic Location: Situated along N Eastern Blvd with traffic counts exceeding 40,500 vehicles per day, the property benefits
- Upcoming High School Development: The planned Percy Julian High School, projected to serve 2,000 students and open in Spring 2028
- Limited Internal Competition: The subject property benefits from strong market positioning, with the nearest Popeyes located 8 miles away
- Proximity to Key Demand Drivers: Located near major regional anchors including Eastdale Mall and 8 miles from Alabama State University
Executive Summary
Broker of Record
Hutt Cooke
License # License # 000110253 - 0, 000168807-0 (AL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Hutt Cooke
License # License # 000110253 - 0, 000168807-0 (AL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,421 SF
Building Class
B
Year Built
2020
Price
$3,298,262 CAD
Price Per SF
$1,362.36 CAD
Cap Rate
6%
NOI
$197,896 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.86 AC
Zoning
CG
Parking
32 Spaces (13.22 Spaces per 1,000 SF Leased)
Frontage
150’ on Eastern Blvd
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
- -
- $73.43 CAD
- Triple Net
- Jan 2040
Popeyes Louisiana Kitchen began in 1972 when Al Copeland opened the first location in Arabi, Louisiana. The company grew from a single restaurant into an international franchise with thousands of locations worldwide. The menu features spicy fried chicken, biscuits, seafood, and signature Cajun sides. Popeyes became part of Restaurant Brands International in 2017 while maintaining its distinct brand identity. The chain continues expanding globally through franchising agreements.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | - | $73.43 CAD | Triple Net | Jan 2040 |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 04-07-36-3-000-001.001 | Improvements Assessment | $150,545 CAD |
| Land Assessment | $97,310 CAD | Total Assessment | $247,855 CAD |
Property Taxes
Parcel Number
04-07-36-3-000-001.001
Land Assessment
$97,310 CAD
Improvements Assessment
$150,545 CAD
Total Assessment
$247,855 CAD
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Popeye's | 876 N Eastern Blvd
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