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Popeyes, Cairo, GA

Popeyes

Cairo, GA

Price $2,300,000
Cap Rate 5.00%
NOI $115,000
Lease Term 20 Years
Lease Type Absolute NNN, With Tenant Responsible For All Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built 2021 (Under Construction)
Building Size 2,145 SF
Lot Size 1.06 Acres (46,174 SF)
Status Under Contract
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NEW 20-YEAR ABSOLUTE NNN LEASE
» 10% rental increases every five years, providing an excellent hedge against inflation
» Absolute NNN lease requires no landlord management, ideal for an out of area investor
» Long-term lease to strong and expanding operator with 130+ units
» Popeyes is the world’s second largest quick-service chicken concept, with 3,000 units
» New 2021 construction featuring dedicated drive-thru for added customer convenience

INFILL LOCATION IN PRIMARY RETAIL CORRIDOR NEAR MAJOR COMMUNITY HUBS
» Located on U.S. Route 84/38th Boulevard Northeast, with visibility and access to 17,960 vehicles per day directly in front of the site
» Surrounded by national retailers, including the only Walmart Supercenter location within 17 miles of the site, Hibbett Sports, Walgreens, Dollar Tree, Pizza Hut, Taco Bell, Advance Auto Parts, Circle K, and many more
» Within two miles of highly attended Cairo schools, including Cairo High School (1,187 students), Eastside Elementary School (652 students), and Northside Elementary School (398 students)
» Central location surrounded by multiple area recreational attractions, including Tired Creek Golf Course, Barber Park, and Valley Pines Golf Club

POPEYES CONTINUES TO GAIN MARKET SHARE
» Popeyes’ new chicken sandwich has provided a historic sales boost – visits are 114.8% above the company’s baseline since the chicken sandwich launched
» Popeyes’ new chicken sandwich has helped push $400,000 in added sales, per restaurant, across Popeyes’ entire mature base
» Popeyes is proving to be COVID-proof and a pioneer in the fast food industry with its delivery program
» Popeyes has ramped up delivery significantly in the U.S. resulting in $250MM in additional revenue

NEW 2021 CONSTRUCTION WITH DRIVE-THRU
» Features latest Popeyes prototype and store concepts and a dedicated drive-thru (80% of Popeyes business is through drive-thru)
» New building construction



Property Description

The property is infill real estate along U.S. Route 84/38th Boulevard Northeast, with visibility and access to 17,960 vehicles per day directly in front of the site. The location experiences increased traffic from its central placement at the confluence of multiple major Georgia thoroughfares, including State Routes 93, 188, and 38. The site is located in a populous area, with 51,944 residents living within a 15-mile radius of the site. The property is also primed to grow along with the surrounding area, with a projected 11 percent average annual household income increase within 15 miles of the site in the next five years.

The site is located in Cairo’s primary retail corridor and near major community hubs. The property is shadow anchored by Cairo Crossing Shopping Center, a large multi-tenant shopping center featuring major national retailers, including the only Walmart Supercenter location within 17 miles. Surrounding the location is the primary retail corridor of Cairo with a strong mix of well-established local and national retailers, including Hibbett Sports, Walgreens, Dollar Tree, Pizza Hut, Taco Bell, Advance Auto Parts, Circle K, and many more. The property benefits from its convenient location within two miles of highly attended Cairo schools, including Cairo High School (1,187 students), Eastside Elementary School (652 students), and Northside Elementary School (398 students). The location is also surrounded by multiple area recreational attractions, including Tired Creek Golf Course, Barber Park, and Valley Pines Golf Club.

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