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Popeyes 1209 W Oak St 2,250 SF Retail Building Amite, LA 70422 $3,114,089 ($1,384.04/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Strong Franchisee Guarantee
- Strong Unit-Level Financials
- Rare, 25-Year, Absolute Triple-Net (NNN) Sale-Leaseback
- Strategic Location Adjacent to Walmart
EXECUTIVE SUMMARY
Surmount is pleased to present the exclusive listing for a Popeyes located at 1209 W Oak St, Amite, LA 70422. The site consists of roughly 2,250 rentable square feet of building space on an estimated 0.69-acre parcel of land. This Popeyes is subject to a 25-year Triple Net (NNN) lease which will commence upon close of escrow. The annual rent will be $179,060 and has scheduled increases of 1.75% annually.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,250 SF
Building Class
C
Year Built
2004
Price
$3,114,089
Price Per SF
$1,384.04
Cap Rate
5.75%
NOI
$179,060
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.69 AC
Opportunity Zone
Yes
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 06149421 | Improvements Assessment | $23,472 |
| Land Assessment | $16,200 | Total Assessment | $39,672 |
PROPERTY TAXES
Parcel Number
06149421
Land Assessment
$16,200
Improvements Assessment
$23,472
Total Assessment
$39,672
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Popeyes | 1209 W Oak St
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