Historical Retail Sale Listing - Popeye's

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Popeye's

3308 Bragg Boulevard, Fayetteville, NC 28303

N/A

2,500 SF | Retail

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Popeye's

Retail Property - Off Market

Price:
N/A
Building Size:
2,500 SF
Property Type:
Retail
Property Sub-type:
Restaurant
Property Use Type:
Investment
Cap Rate:
7.50%
Tenancy:
Single
Listing ID
14135176
Last Updated
over 1 year ago

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

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.

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

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Created 2/24/2005