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For Sale | Single Tenant Popeyes in Dense Retail Corridor

$2,675,000

2201 Paramount Boulevard, Amarillo, TX 79109

Active
Last Updated: 09/26/2024

5

Cap Rate

133,825

NOI

Details:
Cap Rate:    5%
NOI:    $133,825
Building Size:    2,431 sqft
Lot Area:    0.7 acres
Lease Type:    Absolute Net
Year Built:    1978
Year Last Renovated:    2024
Highlights:
  • ±2,431 SF building on ±0.7 AC of fee simple land
  • Occupied by national tenant, Popeyes, with 18 years remaining on lease
  • Excellent guaranty by Dhanani Group - the largest Popeyes Franchisee in system, and 2nd largest restaurant operator in America (2022)
  • Great corner lot positioning with drive-thru and ample parking
  • Additional income from double-sided billboard
  • Strategically located in a dense retail corridor of Amarillo, with close proximity to synergistic national retailers including Gold’s Gym, Home Depot, Red Lobster, Church’s, Smoothie King, Chick-fil-A, and much more!
Description:

Avison Young is pleased to present the opportunity to acquire the single-tenant Popeyes on fee simple land located at 2201 Paramount Boulevard in Amarillo, Texas. The subject property is located in a popular retail corridor and outparcel to a newly renovated Gold’s Gym.

Popeye’s, a National Credit Tenant, has 18 years remaining on its Absolute-Net Lease, with 10% increases every five years. In addition, the operator, the Dhanani Group, operates 1,000+ units nationwide including 375 Popeyes.

This is an excellent opportunity to acquire a stable investment occupied by a reputable national tenant and operator!

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