Columbus, OH - Popeyes (Cleveland Ave)

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, freestanding,
dual drive-thru equipped, Popeyes investment property located in Columbus, OH. The tenant will sign a 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 property is currently scheduled for a May 2025 opening. The franchisee was recently named by Inspire as Dunkin’ Franchisee of the Year.

Popeyes is strategically positioned at the signalized, hard-corner intersection of Cleveland Avenue and Innis Road, a heavily trafficked retail junction averaging 36,600 vehicles per day. The property benefits from being located between two major commuter highways, Interstate 71 (137,500+ VPD) and Interstate 270 (169,900+ VPD). The building will be equipped with a double drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The new construction property will feature a state-of-the-art design using the highest-grade materials available. The center’s tenants include Shoppers World, Foot Locker, Citi Trends, Saraga International Marketplace, Octapharma Plasma, and more. The property is 2 miles away from JPMorgan Chase’s newly renovated regional headquarters. The 2 million square foot building is the firm’s largest, with more than 12,000 employees, providing a direct consumer base to draw from. Additionally, the investment is 2.5 miles away from Easton Town Center, a massive mixed-use center spanning 1.7 million square feet across 82 acres. It’s the most visited lifestyle center in Ohio, attracting over 30 million visitors annually. Hosting more than 200 tenants, including popular brands like Nordstrom, Macy’s, Gucci, Apple, Louis Vuitton, Barnes & Noble, Crate & Barrel, and many more. The center hosts 4 spectacular hotels with a combined 727 rooms. The 5-mile trade area is supported by over 369,000 residents and 233,000 employees, providing a direct consumer base from which to draw. Residents within 5 miles of the property have an average household income of $86,439.