This Retail Property is Off-Market.

3308 Bragg Boulevard
Fayetteville, NC 28303 ·

2,500 SF · Retail For Sale

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Popeye's

Price N/A Property Use Type Investment
Building Size 2,500 SF Cap Rate 7.50%
Property Type Retail Tenancy Single
Property Sub-type Restaurant
Listing ID: 14135176 Date Created: 02/24/2005 Last Updated: 12/28/2005

Description

This investment is a triple net lease, with a new 20 year lease to be signed upon close of escrow. The rent increases 1% annually starting in Year 11. The lease includes four 5-year options. Mid-Atlantic Restaurants, LLC is an 18-unit operator of Popeye's Chicken & Biscuits in Georgia & North Carolina. The principals have significant restaurant experience. They are thirty year veterans of the restaurant industry and currently operate two concepts with a combined forty two stores.

This Popeye's Chicken & Biscuits is located on Bragg Boulevard, also known as State Highway 24, in Fayetteville, North Carolina. The subject property sits near the intersection with William Clark Road. US Highway 401 is less than one mile away. Cain Road, another commercial thoroughfare, is located nearby as well. The prime location on Bragg Boulevard, near major State & US Highways and commercial thoroughfares, produces a traffic count in the area of over 18,500 cars per day. This Popeye's is located near many local and national businesses. The subject property sits in Sycamore Square, an outdoor shopping center with over 25 retail stores. Other stores in Sycamore Square include Food Lion, CVS Pharmacy, Rent-ACenter and others. Other national retail tenants on Bragg Boulevard include Dollar General, Krispy Kreme Doughnuts, Omni National Bank, Subway Sandwiches, Enterprise Rent-A-Car and Pizza Hut.

Highlights

  • New 20-year NNN lease
  • Near the intersection with William Clark Road
  • Located in Sycamore Square with Food Lion, CVS Pharmacy & 25 other retail
  • Lease has annual increases of 1.00% starting in Year 11 & four 5-year options
  • Traffic count of over 18,500 cars per day
  • Prime retail fast food location

Research

3308 Bragg Boulevard, Fayetteville, NC 28303 (Cumberland County)

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