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Popeyes Louisiana Kitchen, Gulf Breeze, FL

Popeyes Louisiana Kitchen

Price $2,560,000
Cap Rate 5.00%
NOI $128,000
Lease Term 15 Years
Lease Type Absolute NNN, with Tenant Responsible for All Insurance, Taxes, and Maintenance, Including Roof, Structure, and Parking Lot
Rental Increases 10% Rental Increases Every Five Years
Year Built 2020
Building Size 2,146 SF
Lot Size 1.021 Acres (44,486 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

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 with 110+ Units
» Popeyes is the world’s second largest quick-service chicken concept, with 3,000 units

HIGH-TRAFFIC LOCATION IN DENSELY POPULATED, GROWING, AND AFFLUENT AREA
» Located on Gulf Breeze Parkway 43,500 vehicles per day at the intersection
» 84,871 residents within a 10-mile radius of the property, with a steady annual population growth rate 1.30 percent over the last 10-years
» Central location in affluent area, with an average household income of $98,747 within a five-mile radius of the site
» Projected 10 percent annual average household income increase within one mile of the site in the next five years

IRREPLACEABLE INFILL LOCATION IN PRIMARY RETAIL CORRIDOR NEAR MAJOR ATTRACTIONS
» Gateway to Gulf Islands National Seashore which sees 5,600,000+ visitors annually and is in the National Park Service’s Top 10 most visited sites, just behind the Grand Canyon
» Directly across from Tiger Point Pavilion, the largest shopping center in Gulf Breeze featuring the only Walmart Supercenter and Lowe’s in the trade area
» Surrounded by national retailers including Walmart, Publix, Tire Kingdom, Whataburger, Lowe’s Home Improvement, Waffle House, Starbucks, and many more
» Minutes from the Gulf Breeze Zoo

NEW 2020 CONSTRUCTION IN TAX FREE STATE
» Brand new 2020 construction
» Florida has no State Income Tax, Estate Tax, or Inheritance Tax



Property Description

The property is irreplaceable infill real estate on Gulf Breeze Parkway, the main east-west thoroughfare in Gulf Breeze, with excellent visibility and access to 43,500 vehicles per day in front of the site. The property is located in the densely populated Pensacola Metropolitan Area, with 290,277 residents living within a 15- mile radius of the site, and a steady annual population growth rate 1.30 percent. Visibility is increased by the property’s central location in an affluent area, with an average household income of $98,747 within a fivemile 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 property is located at the entrance to Gulf Islands National Seashore, which sees 5,600,000+ visitors annually and is in the National Park Service’s Top-10 most visited sites, just behind the Grand Canyon. On top of this, the location is directly across from the Tiger Point Pavilion, the largest shopping center in Gulf Breeze, featuring the only Walmart Supercenter and Lowe’s Home Improvement in the trade area. The site is centrally located near several schools and the Gulf Breeze Zoo, increasing lunch-time traffic to the site. Surrounding the location is the primary retail corridor of Gulf Breeze with a strong mix of well-established local and national retailers including Walmart, Publix, Tire Kingdom, Whataburger, Lowe’s Home Improvement, Waffle House, Starbucks, and many more.

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