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Popeyes, Live Oak, FL

Popeyes

Live Oak, Florida

Price $2,667,000
Cap Rate 4.50%
NOI $120,000
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
Building Size 2,145 SF
Lot Size ±1.00 Acres (43,699 SF)
Status Available
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

CENTRAL LOCATION NEAR MAJOR RETAILERS AND COMMUNITY HUBS
» In close proximity to the only Walmart Supercenter location within 25 miles of the property
» Surrounded by a strong mix of local and national retailers, including Publix, Lowe’s, Tractor Supply Company, McDonald’s, Zaxby’s, and many more
» Within four miles of Suwannee Elementary, Primary, Intermediate, and Middle Schools(combined 3,320 students), greatly increasing lunchtime traffic to the location
» Gateway to the Gulf of Mexico to the south and Tallahassee to the west (2.4 million annual visitors, $901 million in annual economic impact)
» Beneficial proximity to major Florida thoroughfares, including Interstate 10 and U.S. Route 90 (combined 41,463 AADT)
» Projected 10 percent average annual household income increase within a five mile radius of the property in the next five years, poising Popeyes and Live Oak for significant concurrent growth

NEW 2021 CONSTRUCTION IN TAX FREE STATE
» High-quality construction completed in 2021 featuring a dedicated drive-thru
» The nearest Popeyes location resides 26 miles away, providing minimal competition for the property
» Florida has no state income tax, estate tax, or inheritance tax
» Ample on-site parking



Property Description

The property is conveniently located along U.S. Route 129/Ohio Avenue North, a major north-south thoroughfare traversing the entirety of Live Oak (14,500 AADT). The site benefits from its location in a populous area, with 42,646 residents living within a 15-mile radius of the property. With a projected 10 percent average annual household income increase within a five-mile radius of the property in the next five years, Popeyes and Live Oak are poised for significant concurrent growth. The nearest Popeyes location resides 26 miles away, providing minimal competition for the property.

The property has a central location near major retailers and community hubs. The site is adjacent to the only Walmart Supercenter location within 25 miles of the property and is surrounded by a strong mix of local and national retailers, including Lowe’s, Tractor Supply Company, Publix, McDonald’s, Zaxby’s, and many more. The property is also within a four-mile radius of four schools with a combined enrollment of 3,320 students, greatly increasing lunchtime traffic to the location. The Live Oak property serves as a common gateway to the Gulf of Mexico to the south and Tallahassee to the west (2.4 million annual visitors, $901 million in annual economic impact).

Contact Us About This Property

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