Popeyes 15-Yr Abs NNN Lease | New 2020 Construction | 10% Increases Every 5-Years

1511 Lafayette Parkway, LaGrange, GA

$2,818,182

Price

5.5%

Cap Rate

$155,000

NOI

Overview
Cap Rate
5.5%
NOI
$155,000
Building Size
1,846 sqft
Lot Area
1 acres
Occupancy
100%
Lease Type
Absolute Net
Year Built
2020
Tenancy
Single
Lease Expire Year
04/30/2035
Description

The subject property is a newly constructed Popeyes drive-thru located in a growing suburb just outside Atlanta - LaGrange, Georgia. LaGrange is located in Troup County in the Atlanta Combined Statistical Area. This CSA spans up to 39 counties in north Georgia with about 6.5 million people making this the third largest metropolitan region after Greater Washington and South Florida.

The brand new 15-year absolute NNN lease includes 10% rental increases every 5-years in the primary term and in the (4) five-year option periods. The property is strategically located across from Home Depot and adjacent to the LaGrange Mall. The site benefits from its excellent visibility and frontage along one of the most heavily trafficked thoroughfares in LaGrange (Lafayette Highway), which boasts over 27,000 vehicles per day. Over the last 20 years, the population in LaGrange has been rapidly growing and it is expected to grow another 4.0% within the next 5-years.

National retailers in the immediate vicinity include Home Depot, PNC Bank, Verizon, PepBoys, Starbucks, Zaxby’s, McDonald’s, Tractor Supply, Longhorn Steakhouse, Burger King, Cracker Barrell, Chick-Fil-A, RaceTrac, IHOP, Wendy’s, Aspen Dental, Firehouse Subs, Circle-K, TJ-Maxx, Belk, Hobby Lobby, GameStop and many more. This is an excellent opportunity for an investor to purchase a stable, long term investment with zero landlord responsibility.

Highlights
  • Brand New 2020 Construction
  • 15-Year Absolute NNN Lease w/ 10% Increases Every 5-Years
  • Experienced 100+ Unit Operator of Popeyes and Dunkin’ Donuts
  • Located Across from Home Depot & Adjacent to the LaGrange Mall
  • Traffic Counts Exceed 27,000 Vehicles Per Day
  • Over 37,000 Residents within 5-Miles of the Subject Property
  • 4.0% Expected Population Growth Over the Next 5-Years
Documents
Title
Popeyes_-_LaGrange__Outside_Atlanta___GA.pdf
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Location
Gallery