Popeye's
4,000 SF | Retail Building | Augusta, GA 30909 | $1,714,286 ($429/SF) | 7% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,714,286
- Sale Condition
- 1031 Exchange
- Property Type
-
Retail, Restaurant
- Square Feet
- 4,000 SF
- Price / Square Foot
- $429
Listing Contacts
Ani Paulson
Verified Profile
Riley Harder
Verified Profile
- Property Info
Property Overview
The AP Group of Marcus & Millichap is pleased to present the opportunity to acquire leasehold interest in the Popeyes fast food restaurant located on a hard corner lot in Augusta, Georgia. The operator is RRG, Inc., a 16-unit operator in Augusta and Charleston, SC, and this is the highest performing Popeyes in the Augusta MSA. The land is leased from Augusta's General Aviation Commission with ?ve, 5-year options remaining to renew the lease. Popeyes has just over 9 years remaining on their NNN lease and pays all expenses including the ground lease rent.
Augusta, Georgia, is the home of Augusta National Golf Club, where the Masters Tournament is played each year. The Augusta-Richmond County metro consists of seven counties: Burke, Columbia, Lincoln, McDuf?e and Richmond counties in Georgia, and Aiken and Edge?eld counties in South Carolina. There are roughly 617,000 residents in the market and the region is projected to add 32,000 people and 14,200 households over the next ?ve years. The consolidated city-county of Augusta-Richmond contains approximately 203,000 citizens.
Augusta, Georgia, is the home of Augusta National Golf Club, where the Masters Tournament is played each year. The Augusta-Richmond County metro consists of seven counties: Burke, Columbia, Lincoln, McDuf?e and Richmond counties in Georgia, and Aiken and Edge?eld counties in South Carolina. There are roughly 617,000 residents in the market and the region is projected to add 32,000 people and 14,200 households over the next ?ve years. The consolidated city-county of Augusta-Richmond contains approximately 203,000 citizens.
Property Details
- Class
- C
- Year Built
- 1984
- Stories
- 1
- Lot Size (sq. ft)
- 80,150 SF
Highlights
- Leasehold Interest in NNN Popeyes Restaurant | Franchisee Guarantee
- Highest Performing Location in the Augusta, GA MSA | 16 Total Locations in Augusta and Charleston, SC
- Just Over 9 Years Remaining on NNN Lease | Tenant Pays All Expenses, Including Ground Lease Rent
- Popeyes has Two, 5-Year Options to Renew with 10% Escalations | 5% Escalation Every 5 Years During Base Term
- Ground Lease with General Aviation Commission | Five, 5-Year Options to Renew as of 7/31/2022
- Tenant Reports Sales Monthly | Average Monthly Sales for 6/22 - 8/22= $140,980 | Long Term Tenancy of Almost 40 Years
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].