Popeyes | Long-Term Absolute NNN | 603 Martin Luther King Jr Dr
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Popeyes | Long-Term Absolute NNN 603 Martin Luther King Jr Dr
2,952 SF Retail Building Cartersville, GA 30121 £1,804,411 (£611.25/SF) 7% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Long-Term Absolute NNN Lease (Zero Landlord Responsibilities)
- Located at Busy Signalized Intersection & Hard Corner
- Dense Retail Trade Area with Excellent Access & Visibility
- 10% Rent Increases Every 5-Years in Primary Term & Options
- Traffic Counts Exceed 41,000 Vehicles Per Day
- 5.0% Expected Population Growth Over the Next 5-Years (Atlanta is the Most Populated & Fastest Growing Metro in the State)
EXECUTIVE SUMMARY
The subject property is a freestanding Popeyes drive-thru located in Cartersville (Atlanta MSA), GA. Built in 2019, the property is under a long-term absolute NNN lease with 10% rental increases every 5-years in the primary term and in the (4) five-year option periods.
This Popeyes is strategically located in a dense retail trade area at a busy signalized intersection and hard corner. The site benefits from its excellent access and visibility along the most heavily trafficked thoroughfare in Cartersville (US Hwy 41), which boasts over 35,000 vehicles per day. The Cartersville population has been rapidly growing and is expected to grow another 5.0% over the next 5-years. National retailers in the immediate vicinity include ALDI, McDonald’s, Target, Hobby Lobby, Big Lots, O’Reilly Auto Parts, Wendy’s, Dollar General, Walgreens, Burger King, CVS Pharmacy, Discount Tire, PetSmart, Verizon, Chick-Fil-A, Publix, TJ-Maxx, Kohl’s, Five Guys, T-Mobile, GameStop, Chili’s, IHOP, Freddy’s, AT&T, Starbucks, Kroger, Wells Fargo, Taco Bell, Chipotle, Longhorn Steakhouse, and many more. This is an excellent opportunity for an investor to purchase a stable, long term investment with zero landlord responsibility.
This Popeyes is strategically located in a dense retail trade area at a busy signalized intersection and hard corner. The site benefits from its excellent access and visibility along the most heavily trafficked thoroughfare in Cartersville (US Hwy 41), which boasts over 35,000 vehicles per day. The Cartersville population has been rapidly growing and is expected to grow another 5.0% over the next 5-years. National retailers in the immediate vicinity include ALDI, McDonald’s, Target, Hobby Lobby, Big Lots, O’Reilly Auto Parts, Wendy’s, Dollar General, Walgreens, Burger King, CVS Pharmacy, Discount Tire, PetSmart, Verizon, Chick-Fil-A, Publix, TJ-Maxx, Kohl’s, Five Guys, T-Mobile, GameStop, Chili’s, IHOP, Freddy’s, AT&T, Starbucks, Kroger, Wells Fargo, Taco Bell, Chipotle, Longhorn Steakhouse, 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
2,952 SF
Building Class
B
Year Built
2019
Price
£1,804,411
Price Per SF
£611.25
Net Initial Yield
7%
NOI
£126,309
Tenancy
Single
Number of Floors
1
Building FAR
0.07
Lot Size
0.94 AC
Zoning
C3
Parking
29 Spaces (9.82 Spaces per 1,000 SF Leased)
AMENITIES
- Drive Thru
NEARBY MAJOR RETAILERS
1 of 5
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Popeyes | Long-Term Absolute NNN | 603 Martin Luther King Jr Dr
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