Popeyes 20-Yr Abs NNN Lease | Brand New 2019 Construction | 10% Rent Increases Every 5-Yrs

1211 Bypass 72 NE, Greenwood, SC

$1,943,740

Price

6%

Cap Rate

$116,624.44

NOI

Overview
Cap Rate
6%
NOI
$116,624.44
Building Size
2,145 sqft
Lot Area
0.96 acres
Occupancy
100%
Lease Type
Absolute Net
Year Built
2019
Tenancy
Single
Lease Expire Year
12/05/2039
Description

The subject property is a newly constructed Popeyes drive-thru located in Greenwood, South Carolina. The brand new 20-year absolute NNN lease includes 10% rental increases every 5-years in the primary term and in the (4) 5-year option periods. The property is located adjacent to a newly constructed Stop-A-Minute gas station at a busy signalized intersection with shared access. This Popeyes enjoys excellent visibility right off Bypass 72 Northeast and Durst Ave East with traffic counts exceeding 31,000 vehicles per day. This retail corridor is one of the main thoroughfares serving Greenwood and connecting cities. There are over 47,000 residents in the retail trade area with a 4% expected population growth over the next 5-years.

National retailers in the immediate vicinity include Burger King, McDonald’s, CVS, O’Reilly Auto Parts, Circle K, Arby’s, Taco Bell, Applebee’s, Bojangles, Waffle House, Sonic, Zaxby’s, Red Lobster, T-Mobile and more. This is an excellent opportunity for an investor to purchase a stable, long term investment with zero landlord responsibility.

Highlights
  • Brand New 2019 Build-to-Suit Construction
  • 20-Year Absolute NNN Lease (Zero Landlord Responsibilities)
  • 10% Rent Increases Every 5-Yrs (6.96% Avg. Cap over Initial Term)
  • Strong Multi-Unit Popeyes Franchisee Operator with Plans to Open 30 Additional Locations in the Carolinas Over the Next 5-Years
  • Located Adjacent to a Newly Constructed Stop-A-Minute Gas Station at a Busy Signalized Intersection with Shared Access
  • Excellent Visibility Right Off Bypass 72 Northeast and Durst Ave East with Traffic Counts Exceeding 31,000 Cars/Day
  • Over 47,000 Residents in the Trade Area with 4% Expected Population Growth Over the Next 5-Years
Documents
Title
Popeyes_-_Greenwood__SC.pdf
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Location
Gallery