Carpentersville, 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 Carpentersville, IL (Chicago MSA). The tenant has 3 years of firm term remaining with an additional 2 (5-year) option periods left to extend. The lease features 1% annual rental increases throughout the initial term and options, steadily increasing 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 along Randall Road with clear visibility and access to an average of 41,800 vehicles passing by daily. The asset benefits from nearby access onto Interstate 90 and other major State Highways, making this a centralized location with easy commutes. The property is ideally situated as an outparcel to Woodman’s Food Market and is adjacent to a Menards-anchored center. The additional surrounding tenants include Bank of America, Culver’s, Lou Malnati’s, Walmart Supercenter, Trader Joe’s, Binny’s Beverage Depot, and many 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 Algonquin Square (220 units), Reserve Randall Road (380 units), The Enclave (487 units – proposed), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 130,500 residents and 61,300 daytime employees. Residents within 1-, 3-, and 5-miles of the subject boast an affluent average household income of $171,909, $157,229, and $131,132, respectively.