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Popeyes, Baxley, GA

Popeyes

Baxley, Georgia

Price $2,848,000
Cap Rate 4.25%
NOI $121,000
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 2022
Building Size Contact For Details
Lot Size ± 1.26 Acres (54,886 SF)
Status Under Contract
Lead Broker Information Vincent Aicale
Executive Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

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

Michael T. Yuras, CCIM
Vice Chairman
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

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
» 20-year lease to Sailormen, a strong and expanding operator with 130+ units
» Popeyes is the world’s second largest quick-service chicken concept, with 3,000 units

POPEYES CONTINUES TO GAIN MARKET SHARE
» Popeyes opened 146 new restaurants in the United States over the past year and nearly 200 globally despite the pandemic
» Popeyes sales remains 25 percent above pre-pandemic levels
» Popeyes is testing a new loyalty program as part of a company-wide effort to bolster its digital sales across all its brands
» Sales have surged at Popeyes since it debuted its new chicken sandwich nearly two years ago—unit volumes are now approximately $1.8 million per year, compared with $1.4 million beforehand

CENTRALLY LOCATED NEAR LARGE RETAILERS AND MAJOR COMMUNITY HUBS
» Beneficial proximity to Baxley Municipal Airport (3,705 annual visitors, $2,708,400 annual economic impact)
» Centrally located near several county offices including the Health Department, City Hall and, Sheriff’s office, increasing lunchtime traffic in the area
» Less than a mile from Coastal Pines Technical College – Baxley (4,205 students)
» Two miles from Appling Healthcare Hospital (165 beds)

HIGH-VISIBILITY LOCATION IN GEORGIA SUBURB
» Located along U.S. Highway 341/West Parker Street with access to 13,300 vehicles per day directly in front of the site
» Convenient access to U.S. Highway 1/North Main Street (14,800 AADT), providing increased traffic in the area

NEW 2022 CONSTRUCTION WITH DUAL-LANE DRIVE-THRU
» Features latest Popeyes prototype and store concepts and a dedicated dual-lane drive-thru (80% of Popeyes business is through drive-thru)
» Brand new 2022 high-quality construction



Property Description

The property is located along U.S. Highway 341/West Parker Street with access to 13,300 vehicles per day directly in front of the site. Visibility is increased with the site’s central location with convenient access to U.S. Highway 1/North Main Street (14,800 AADT). The site is located in Baxley’s primary retail corridor, near major community hubs. The property is located immediately near a Walmart Supercenter, attracting crossover shopping to the location. The property is also surrounded by other local and national retailers, including Dollar General, Dollar Tree, Zaxby’s, Taco Bell, Pizza Hut, McDonald’s, and many more

The property benefits from its convenient location near Coastal Pines Technical College – Baxley with a fall 2019 enrollment of 4,205 students, an increase of 735 students (21.18%) over the fall of 2018. The site maintains beneficial proximity to Baxley Municipal Airport with 3,705 annual visitors and an annual economic impact of $2,708,400. The property is centrally located near several county offices including the Health Department, City Hall, and Sheriff’s office, increasing lunchtime traffic in the area and providing a dependable customer base for Popeyes. The site is also located two miles from Appling Healthcare Hospital (101-beds).

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