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Popeyes Louisiana Kitchen, Lovejoy, GA

Popeyes Louisiana Kitchen

Lovejoy, GA

Price $2,640,000
Cap Rate 5.25%
NOI $138,600
Lease Term 15 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 1.271 Acres (55,365 SF)
Status Under Contract
Lead Broker Information 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

Michael T. Yuras, CCIM
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

Investment Highlights

NEW 15-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
» 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

POPEYES U.S. SAME-STORE SALES CLIMBED 29.2% DURING THE FIRST THREE MONTHS OF 2020, OUTPACING ALL COMPETITORS
» 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

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED, GROWING, AND AFFLUENT AREA
» Located on U.S. Route 41/Tara Boulevard, with visibility and access to 53,500 vehicles per day in front of the site
» 73,732 residents within a five-mile radius of the property, providing a large customer base for the location
» Average household income of $80,148 within a five-mile radius of the site
» Projected 10 percent average annual household income increase within one mile of the site in the next five years

LOCATED IN PRIMARY RETAIL CORRIDOR NEAR MAJOR COMMUNITY HUBS
» Outparcel to ALDI and shadow-anchored by Walmart Supercenter, greatly increasing traffic and visibility to the location
» Surrounded by national retailers, including The Home Depot, Hibbett Sports, Dollar Tree, Dollar General, McDonald’s, Panda Express, Chick fil-A, and many more
» One mile from two of the top-ranked schools in the Clayton County Public School District, Lovejoy High School and Lovejoy Middle School (combined 2,573 students)
» Immediately adjacent to Towne Center, a new gated community under construction, which will feature approximately 250 lots
» 4.5 miles from Atlanta Motor Speedway, which has annually hosted NASCAR Cup Series stock car races since its inauguration in 1960



Property Description

The property is located along U.S. Route 41/Tara Boulevard, Lovejoy’s primary north-south thoroughfare, with excellent visibility and access to 53,500 vehicles per day. The site is located in a densely populated Clayton County area, with 73,732 residents living within a five-mile radius of the site. The area has an average household income of $80,148 within a five-mile radius of the site. The property is primed to grow along with the surrounding area, with a projected 10 percent average annual household income increase within one mile of the site in the next five years.

The site is located in Lovejoy’s primary retail corridor and near major community hubs. The property is outparcel to ALDI and shadow anchored by Walmart Supercenter, greatly increasing traffic and visibility to the location. Other local and national retailers nearby, include The Home Depot, Hibbett Sports, Dollar Tree, Dollar General, McDonald’s, Panda Express, Chick-fil-A, and many more. The property also benefits from its convenient location one mile from two of the top-ranked schools in the Clayton County Public School District, Lovejoy High School and Lovejoy Middle School (combined 2,573 students). The location is also immediately adjacent to Towne Center, a new gated community under construction, which will feature approximately 250 lots, and maintains a beneficial proximity to Atlanta Motor Speedway, which has annually hosted NASCAR Cup Series stock car races since its inauguration in 1960.

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