Bloomingdale, IL - 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, freestanding, drive-thru equipped, Popeyes investment property located in Bloomingdale, IL (Chicago MSA). The tenant has over 5 years of firm term remaining with an additional 2 (5-year) option periods left to extend. The lease features rare 15% rental increases every 5 years throughout the initial term and options, 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. Founded in 1972, Popeyes is among the largest QSR operators with roughly 4,000 restaurants around the world.

Popeyes is strategically located at the signalized, hard corner intersection of W. Army Trail Road and Gary Avenue, averaging a combined 75,900 vehicles passing by daily. West Army Trail Road is the primary retail corridor in Bloomingdale, placing the asset in a centralized location with easy commutes. The asset is ideally situated within a dense retail trade area with direct access to Bloomingdale Court (748K+ SF), Stratford Crossing (365K+ SF), and other major centers. The surrounding tenants include Amazon Fresh, Walmart Supercenter, Target, Lowe’s, Costco Wholesale, Chick-fil-A, and others. The strong trade area drives a loyal, local consumer base to the area, promoting crossover store exposure and contributing to the local economy. Furthermore, the property is near numerous single-family communities and multi-family complexes including Lakeland Lofts (91 units), Stratford Green (192 units), Windsor Estate (342 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 246,000 residents and 113,300 daytime employees. Residents within 1-, 3-, and 5-miles of the subject boast an affluent average household income of $136,718, $130,125, and $134,779, respectively.