Popeyes | 20-Year Absolute NNN Lease | 7120 Knightdale Blvd E
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Popeyes | 20-Year Absolute NNN Lease 7120 Knightdale Blvd E
3,075 SF Retail Building Knightdale, NC 27545 £2,536,071 (£825/SF) 5.60% Net Initial Yield
Investment Highlights
- 20-Year Absolute NNN Lease w/ 10% Increases Every 5-Years
- Outparcel to Walmart Supercenter
- Average Household Income Exceeds $106,000 (5-Mile Radius)
- Historical Occupancy Since 2016 (Strong Store Sales)
- Traffic Counts Exceed 42,000 Vehicles Per Day on Raleigh Road
- Dense Trade Area with Over 93,000 Residents in 5-Miles and 9.0% Expected Population Growth Over the Next 5-Years
Executive Summary
The subject property is a newly constructed Popeyes drive-thru located in Knightdale (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. The property is strategically located directly in front of a Walmart Supercenter on Knightdale Blvd with traffic counts exceeding 42,000 vehicles per day. Within 5-miles of the subject property there are over 93,000 residents with 9.0% expected population growth over the next 5-years.
National retailers in the immediate vicinity include AutoZone, CVS Pharmacy, Walgreens, McDonald’s, Advance Auto Parts, Dunkin’ Donuts, Food Lion, Goodwill, Tractor Supply, Verizon, Arby’s, Chick-Fil-A, Home Depot, Five Guys, IHOP, AT&T, Wells Fargo, Target, Ross, Starbucks, PetSmart, Kohl’s, TJ Maxx, Best Buy, Chili’s, Bank of America, Panera Bread, Firestone, Wendy’s, Taco Bell, KFC, Burger King, Walmart, Lowe’s and many more. This is an excellent opportunity for an investor to purchase a stable, long term investment with zero landlord responsibility.
National retailers in the immediate vicinity include AutoZone, CVS Pharmacy, Walgreens, McDonald’s, Advance Auto Parts, Dunkin’ Donuts, Food Lion, Goodwill, Tractor Supply, Verizon, Arby’s, Chick-Fil-A, Home Depot, Five Guys, IHOP, AT&T, Wells Fargo, Target, Ross, Starbucks, PetSmart, Kohl’s, TJ Maxx, Best Buy, Chili’s, Bank of America, Panera Bread, Firestone, Wendy’s, Taco Bell, KFC, Burger King, Walmart, Lowe’s 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
3,075 SF
Building Class
C
Year Built
2016
Price
£2,536,071
Price Per SF
£825
Net Initial Yield
5.60%
NOI
£142,020
Tenancy
Single
Number of Floors
1
Building FAR
0.08
Land Acres
0.87 AC
Zoning
HB
Frontage
200 ft on Knightdale Blvd
Amenities
- Pylon Sign
- Signage
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 1754.09-15-2638-000 | Improvements Assessment | £826,926 |
| Land Assessment | £720,033 | Total Assessment | £1,546,960 |
PROPERTY TAXES
Parcel Number
1754.09-15-2638-000
Land Assessment
£720,033
Improvements Assessment
£826,926
Total Assessment
£1,546,960
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Popeyes | 20-Year Absolute NNN Lease | 7120 Knightdale Blvd E
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