Popeyes | Abs NNN w/ Annual Increases | 2355 W Addison St
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Popeyes | Abs NNN w/ Annual Increases 2355 W Addison St
2,627 SF Retail Building Chicago, IL 60618 £1,564,487 (£596/SF) 6% Net Initial Yield
Investment Highlights
- 3+ Years Remaining | Scheduled Annual Rental Increases | Franchisee Guaranteed | Well-Known & Established Brand
- Major Surrounding Shopping Centers | Strong Tenant Presence |Adjacent to Lane Tech College Prep - 4,400+ Students
- Direct Residential Consumer Base | Top-Ranking Neighborhood |Affluent Community | Strong Demographics in 1-Mile Trade Area
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Signalized, Hard Corner Intersection | Centralized Location |Drive-Thru Equipped | Near Wrigley Field | Excellent Visibility
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding, drive-thru equipped, Popeyes investment property located in Chicago, IL. The tenant has over 3 years of firm term remaining with an additional 2 (5-year) option periods left to extend. The lease features 1% annual rental increases throughout the initial term and options, steadily increasing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. Founded in 1972, Popeyes is among the largest QSR operators with roughly 4,000 restaurants around the world.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,627 SF
Building Class
B
Year Built
1974
Price
£1,564,487
Price Per SF
£596
Net Initial Yield
6%
NOI
£93,887
Tenancy
Single
Number of Floors
1
Building FAR
0.19
Land Acres
0.31 AC
Zoning
B3-2 - Community Shopping District
Parking
16 Spaces (6.09 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Restaurant
- Signage
- Signalised Intersection
- Drive Thru
Walk Score ®
Very Walkable (87)
Bike Score ®
Very Bikeable (88)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 14-19-300-001-0000 | Improvements Assessment | £31,382 |
| Land Assessment | £157,489 | Total Assessment | £188,870 |
PROPERTY TAXES
Parcel Number
14-19-300-001-0000
Land Assessment
£157,489
Improvements Assessment
£31,382
Total Assessment
£188,870
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Power Broker Patrick Luther -
Power Broker Matthew Mousavi -
SRS National Net Lease
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Popeyes | Abs NNN w/ Annual Increases | 2355 W Addison St
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