Popeyes Louisiana Kitchen | Absolute NNN Lease

Highlights:

• 17+ Year NNN ground lease
• No landlord responsibilities
• 10% rent bumps every 5 years
• Guaranteed by strong franchisee (70 units including 45 Popeyes) and personal
• Excellent visibility at signalized corner
• Pad entrance to strong shopping center (Kroger, Dick’s Sporting Goods, Field & Stream,Home Goods, WoodSpring Hotel, Starbuck’s, Arby’s and NTB Tire)
• Easy access off I-64

Description:

SLN Capital Markets, a division of S.L. Nusbaum Realty Co., is pleased to exclusively market for sale the property leased to Popeyes Louisiana Kitchen located at 100 Debaun Loop in Chesapeake, Virginia

The Popeyes Louisiana Kitchen located at 100 Debaun Loop is a 2,789 square foot building located on .79 acre in Chesapeake, VA. It sits adjacent to a new Arby’s restaurant at the entrance to Greenbrier Square shopping center, a newer power center anchored by Kroger and other national retailers including Dick’s Sporting Goods, Home Goods, WoodSpring Suites, Starbuck’s and other local and national tenants. It has excellent access off of I-64, strong visibility and is well positioned to capture consumers who live, work and shop within a densely populated fivemile radius. A luxury 348-unit apartment complex (Belmont at Greenbrier) sits directly across the street.

The store was built in 2017 with a modern prototype including a drive-thru. It is operated by an experienced franchisee (Pure Food Management – 70 units including 45 Popeyes) with three company principals personally guaranteeing the lease.

Popeyes is on a 20-year ground lease with 10% rent increases every five years including the four, 5-year option periods.

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