Cincinnati, OH - Popeyes

Description:

SRS Real Estate Partners in collaboration with Hoty Enterprises, Inc., 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 Cincinnati, OH. The tenant will sign a brand new 15-year lease with 5 (5-year) options upon close of escrow, demonstrating their long-term commitment to the site. The lease features 1.50% annual rental increases throughout the initial term and options, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. The building, which opened in 2022, features a state-of-the-art design using the highest-grade materials available.

Popeyes is strategically located along Lebanon Road with clear visibility and access to an average of 24,100 vehicles passing by daily. The property benefits from direct access onto Interstate 275 (127,400 VPD) and is near Interstate 75 and Interstate 71, allowing for easy and efficient commutes. Popeyes is ideally situated within a dense trade area with many surrounding national/credit tenants including Kroger, Walgreens, McDonald’s, Advance Auto Parts, Huntington Bank, Starbucks, and others. The strong tenant synergy significantly increases the consumer draw to the immediate trade area and promotes crossover store exposure for the site. Furthermore, the property is near numerous single-family communities and multi-family complexes including Sharon Woods (36 units), The Enclave (150 units), Shadow Hill (365 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 141,300 residents and 189,200 daytime employees. Residents within 1-, 3-, and 5-miles of the site boast an affluent average household income of $109,355, $136,202, and $132,002, respectively.