POPEYES | 20YR NNN LEASE | LARGEST FRANCHISEE
3,789 SF | Retail Building | Ypsilanti, MI 48197 | $2,631,776 ($695/SF) | 5.35% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,631,776
- Property Type
-
Retail, Restaurant, Industrial
- Square Feet
- 3,789 SF
- Price / Square Foot
- $695
Listing Contacts
Robert Narchi
Verified Profile
Jason Fefer
Verified Profile
Tyler Bindi
Verified Profile
- Property Info
Property Overview
Marcus & Millichap is pleased to exclusively offer this freestanding 3,789± SF Popeyes sitting on approximately 1.43 AC of land positioned on the signalized corner of a retail center. This site is operated by the largest Popeyes franchisee in the system and is subject to a 20-year NNN lease to commence at Closing with 10% rental increases every five (5) years making for a stable and hands-off investment. The property is scheduled for a complete renovation to a new Popeyes prototype in 2025.
The Subject Property is positioned down the street from several national retailers, including Kroger, Home Depot, Target, Lowes, Harbor Freight, Meijer, and Sams Club. Eastern Michigan University (13,000± students) is less than 10 minutes away from the property and The University of Michigan (33,000± students) is located just 15 minutes away. The property's location is right off I-94, providing further accessibility and traffic.
The Subject Property is positioned down the street from several national retailers, including Kroger, Home Depot, Target, Lowes, Harbor Freight, Meijer, and Sams Club. Eastern Michigan University (13,000± students) is less than 10 minutes away from the property and The University of Michigan (33,000± students) is located just 15 minutes away. The property's location is right off I-94, providing further accessibility and traffic.
Property Details
- Class
- C
- Year Built
- 2015
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 62,291 SF
Highlights
- Excellent Guaranty | Operated by The Dhanani Group (Largest Popeyes Franchisee, 2nd Largest Restaurant Franchisee)
- Brand New 20-Year Triple Net (NNN) Lease with 10% Rent Bumps
- 15-Minutes from The University of Michigan (33,000± Students) and 10-Minutes from Eastern Michigan University (13,000± Students)
- Highly Trafficked Location Right Off Major Highway (I-94 | 49,380± Avg. Cars/Day)
- Strategically Positioned on a Signalized Corner Lot at the Entrance to a Shopping Center
- Located in Ann Arbor MSA | Population: 372,258±
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