2137 Staring Lane
Baton Rouge, LA 70810 ·
2,681 SF · Retail For Sale
Popeye's Chicken & Biscuits
|Price||N/A||Property Use Type||Net Lease Investment with 7 years left on lease|
|Building Size||2,681 SF||Cap Rate||8.50%|
|Property Sub-type||Restaurant||Lot Size||0.60 AC|
|Listing ID: 17485286||Date Created: 01/13/2012||Last Updated: 05/02/2012|
Marcus & Millichap is pleased to present the exclusive listing of 2137 Staring Lane, located in Baton Rouge, Louisiana. The subject property is a Popeye' s Chicken & Biscuits, which is an absolute NNN lease with just over seven years remaining. The lease commenced on April 1, 1999 and includes two five-year options. The lease has increases of the lesser of four percent or one times CPI every two years. The property has an attractive cap rate of eight and a half percent and absolutely no landlord responsibilities. The building is 2,681 square feet and it sits on a 0.6 acre parcel of land.
This lease is guaranteed by GCP Restaurants, LLC. The company has 17 units in the Baton Rouge area, and are backed by CapitalSpring, a private equity firm that specializes in partnering with experienced operators in the franchise world.
This investment opportunity is located on Staring Lane in Baton Rouge, Louisiana. The property is located in the southern Baton Rouge just south of the intersection of Interstate 12 and Interstate 10 and experiences traffic counts of 20,000 vehicles daily.
The subject site is also located near many local and national commercial establishments. Just north at the corner of Route 427 and Staring Lane is an Albertson's anchored shopping center with Taco Bell as an outpad. Also, at the corner of 427 and Staring Lane are Burger King and a Rite Aid anchored strip center with GNC as an additional tenant. In between the Rite Aid anchored center and the Popeye's is a Fuel Zone gas and convenience store. Just south of the subject is a Dollar General anchored center with outpads Capital One Bank, Domino's, and Bridgestone/Firestone .
Additionally, the property is less than two miles from the Mall of Louisiana, a 1.6 million square foot shopping center home to over 175 tenants including Macy's, JC Penny, Dillard's, Sephora, Williams Sonoma, Pottery Barn, Dick's Sporting Goods, and many more.
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