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Popeye’s Louisiana Kitchen, Rancho Cordova, CA

Popeye’s Louisiana Kitchen

CA, United States

Price $2,239,000
Cap Rate
NOI
Lease Term 10 Years
Lease Type
Rental Increases 10% Rental Increases Every 5 Years
Year Built 2016
Building Size 2,695 sq. ft.
Lot Size 0.84 Acres (36,590 sq. ft.)
Status Sold
Lead Broker Information Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Ken Noack, Jr.
Senior Managing Director
916.569.2384
knoack@newmarkccarey.com
CA RE License #00777705

Investment Highlights

BRAND NEW NNN LEASE WITH SCHEDULED RENTAL INCREASES
» 10-year lease with 10% rental increases every 5 years
» NNN lease provides a passive investment with secure cash flow

HIGH-TRAFFIC COMMUTER LOCATION
» Located just off of U.S. Highway 50 – 172,000 AADT
» Excellent access and visibility to 36,386 vehicles per day from Zinfandel Drive
» Near signalized intersection with an average traffic count of 62,507 vehicles per day
» Within walking distance of two light rail stations – 47,000 passengers per week
» Close proximity to Rancho Cordova’s primary office park – second-largest office park in area outside of downtown Sacramento

OUTPARCEL LOCATION IN DENSE RETAIL CORRIDOR
» Outparcel to Zinfandel 50, a large shopping center featuring multiple national tenants and currently undergoing a massive renovation
» Close proximity to several shopping centers and major national retailers

PRIME SACRAMENTO MSA LOCATION WITH ROBUST DEMOGRAPHICS
» Ranch Cordova is the Sacramento area’s largest sub-center, attracting over 50,000 commuters daily
» Sacramento MSA is the third-fastest growing MSA in California
» Large population of 207,354 within a five-mile radius of the property, with a high average household income of $85,373

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located just off of the hard corner of Zinfandel Drive and Folsom Boulevard, with a traffic count of 62,507 vehicles per day at the intersection. Access to U.S. Highway 50 is just over a block from the property; the highway experiences a traffic count of 172,000 vehicles per day and is the main route connecting Rancho Cordova and downtown Sacramento. Additionally, the site is within walking distance of both the Cordova Town Center and Zinfandel light rail stations; the light rail in Rancho Cordova serves an average of 47,000 passengers per week.

The property is centrally located in Rancho Cordova’s primary retail corridor. The site is located at the entrance to the Zinfandel 50 shopping center, which includes Little Caesars, Lumber Liquidators, Burger King, and Taco Bell. Directly behind Zinfandel 50 is Rancho Cordova Town Center, anchored by Ross, Marshalls, Target, and Michaels. Other retailers in the immediate area include Walmart Supercenter, Safeway, Sleep Train, PetSmart, and Walgreens.

Rancho Cordova’s primary office park is located on the other side of U.S. Highway 50, near the site. The office park is the second-largest in the Sacramento region outside of downtown Sacramento, and it provides a large customer base for Popeyes. Additionally, Mills Middle School and Cordova High School are approximately a mile from the property; the two schools have a combined enrollment of 2,553 students.

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