Harpersville, AL - Popeyes

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Popeyes investment property located in Harpersville, Alabama. The tenant, Popeyes, has over 18 years remaining with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and options thereafter, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Popeyes is a subsidiary of Restaurant Brands International Inc. is one of the world’s largest quick service restaurant companies with more than $40 billion in annual system-wide sales and over 30,000 restaurants in more than 100 countries.

The Popeyes is located near the signalized, hard corner intersection of State Hwy 53 and U.S. Hwy 231 with a combined 24,700 VPD. The site is in close proximity to multiple national/credit tenants including Marathon, Dollar General, Exxon, Chevron, Jack’s, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the asset is near Coosa Valley Academy (237 students), further increasing consumer traffic to the immediate trade area. The 5-mile trade area is supported by a population of over 4,000 and 1,000 employees. Residents within a 1-mile trade radius boast an affluent average household income of $105,707.