Popeyes | New 20-Year Absolute NNN Lease | 4818 Apex Hwy
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Popeyes | New 20-Year Absolute NNN Lease 4818 Apex Hwy
2,030 SF Retail Building Durham, NC 27713 £2,584,879 (£1,273/SF) 5.60% Net Initial Yield
Investment Highlights
- 20-Year Absolute NNN Lease w/ 10% Increases Every 5-Years
- 3-Miles from Raleigh Durham International Airport
- Average Household Income Exceeds $129,000 (5-Mile Radius)
- Historical Occupancy Since 2023 (Strong Store Sales)
- Traffic Counts Exceed 38,000 Vehicles Per Day
- Dense Trade Area with Over 135,000 Residents in 5-Miles and 8.0% Expected Population Growth Over the Next 5-Years
Executive Summary
The subject property is a newly constructed Popeyes drive-thru located in Durham (Raleigh), North Carolina. The brand new 20-year absolute NNN lease includes 10% rent increases in the primary term and throughout the (4) 5-year option periods.
This brand new Popeyes is strategically located minutes from Raleigh Durham International Airport adjacent to a busy Food Lion anchored shopping center. The site benefits from its excellent visibility and access along Apex Highway, which boasts over 38,000 vehicles per day. Immediately east of the subject property is Interstate-40, which has traffic counts exceeding 139,000 cars per day. Within 5-miles of the subject property there are over 135,000
residents with 8.0% expected population growth over the next 5-years.
National retailers in the immediate vicinity include Taco Bell, Chick-Fil-A, Pizza Hut, Food Lion, Jiffy Lube, Pep Boys, Sherwin Williams, CVS Pharmacy, Firestone, FedEx, McDonald’s, Wendy’s, Dunkin’ Donuts, AutoZone, Arby’s, Big Lots, PNC Bank, Walgreens and many more. This is an excellent opportunity for an investor to purchase a stable, long term investment with zero landlord responsibility.
This brand new Popeyes is strategically located minutes from Raleigh Durham International Airport adjacent to a busy Food Lion anchored shopping center. The site benefits from its excellent visibility and access along Apex Highway, which boasts over 38,000 vehicles per day. Immediately east of the subject property is Interstate-40, which has traffic counts exceeding 139,000 cars per day. Within 5-miles of the subject property there are over 135,000
residents with 8.0% expected population growth over the next 5-years.
National retailers in the immediate vicinity include Taco Bell, Chick-Fil-A, Pizza Hut, Food Lion, Jiffy Lube, Pep Boys, Sherwin Williams, CVS Pharmacy, Firestone, FedEx, McDonald’s, Wendy’s, Dunkin’ Donuts, AutoZone, Arby’s, Big Lots, PNC Bank, Walgreens and many more. This is an excellent opportunity for an investor to purchase a stable, long term investment with zero landlord responsibility.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,030 SF
Building Class
B
Year Built
2023
Price
£2,584,879
Price Per SF
£1,273
Net Initial Yield
5.60%
NOI
£144,753
Tenancy
Single
Number of Floors
1
Building FAR
0.05
Lot Size
1.03 AC
Amenities
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 153946 | Improvements Assessment | £397,990 |
| Land Assessment | £512,896 | Total Assessment | £910,886 |
PROPERTY TAXES
Parcel Number
153946
Land Assessment
£512,896
Improvements Assessment
£397,990
Total Assessment
£910,886
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Popeyes | New 20-Year Absolute NNN Lease | 4818 Apex Hwy
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