Popeyes
1,992 SF | 100% Leased | Retail Building | Pembroke, NC 28372 | $2,708,333 ($1,360/SF) | 6% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,708,333
- Sale Condition
- 1031 Exchange
- Property Type
-
Retail, Restaurant
- Square Feet
- 1,992 SF
- Price / Square Foot
- $1,360
Listing Contacts
David Hoppe
Verified Profile
Ben Olmstead
Verified Profile
- Property Info
Property Overview
ATTRACTIVE LEASE FUNDAMENTALS
- New 15 year Abs. NNN
- 10% rent increases every 5 years
- No Landlord Responsibilities
NAME BRAND TENANT
- Popeyes is the second largest “quick-service chicken restaurant group”
- Over 4,100+ locations in 40 states and 30 countries world wide
- In Q3 of 2023, Popeyes had 16.1% Sales Growth compared to Q3 in 2022
HIGHLY VISIBLE ON A RETAIL CORRIDOR
- Fronting W. 3rd St (15.5k VPD)
- Over 325KSF of retail space located in a 1-mile radius boasting a 0% vacancy rate
- Over 3.7K SF of retail space has been absorbed over the past 12 months
- Nearby national tenants include: Jersey Mikes, Circle K, Cook Out, McDonalds, and Burger King
CLOSE PROXIMITY TO HIGH GROWTH UNC PEMBROKE
- Less than a half-mile to UNC Pembroke
- Over 7,500 students and 420+ faculty
- 8 different colleges & schools
- Since adopting the NC Promise Tuition Plan in 2016, enrollment has grown 32%
NEW CONSTRUCTION
- Popeye’s is constructing the new building to their newest prototype
- New 15 year Abs. NNN
- 10% rent increases every 5 years
- No Landlord Responsibilities
NAME BRAND TENANT
- Popeyes is the second largest “quick-service chicken restaurant group”
- Over 4,100+ locations in 40 states and 30 countries world wide
- In Q3 of 2023, Popeyes had 16.1% Sales Growth compared to Q3 in 2022
HIGHLY VISIBLE ON A RETAIL CORRIDOR
- Fronting W. 3rd St (15.5k VPD)
- Over 325KSF of retail space located in a 1-mile radius boasting a 0% vacancy rate
- Over 3.7K SF of retail space has been absorbed over the past 12 months
- Nearby national tenants include: Jersey Mikes, Circle K, Cook Out, McDonalds, and Burger King
CLOSE PROXIMITY TO HIGH GROWTH UNC PEMBROKE
- Less than a half-mile to UNC Pembroke
- Over 7,500 students and 420+ faculty
- 8 different colleges & schools
- Since adopting the NC Promise Tuition Plan in 2016, enrollment has grown 32%
NEW CONSTRUCTION
- Popeye’s is constructing the new building to their newest prototype
Property Details
- Year Built
- 2024
- Stories
- 1
- Property Subtype
- Freestanding, Storefront
Highlights
- Attractive Lease Fundamentals
- Name Brand Tenant
- Close Proximity to UNC Pembroke
Nearby Properties
Similar Properties
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