Popeye’s w/ Drive-Thru | Abs. NNN Lease 1211 NE Bypass 72 2,145 SF Retail Building Greenwood, SC 29649 $1,973,646 ($920.11/SF) 6.50% Cap Rate

Marcus & Millichap is pleased to present for sale this Absolute Net Leased Popeyes located at 1211 Bypass 72 NE in Greenwood, South Carolina. The subject property consists of a 2,145 SF free-standing building with a drive-thru and is situated on a large .96-acre parcel of land.
Strategically located adjacent to the hard signalized intersection of Bypass Road and Durst Avenue, the property benefits from tremendous visibility along with great access. The property also sits along Bypass Road, a main thoroughfare, which runs this retail corridor through Greenwood and other connecting cities. National retailers in the immediate vicinity include Burger King, McDonald’s, CVS, O’Reilly Auto Parts, Circle K, Arby’s, Taco Bell, Applebee’s, Bojangles, Waffle House, Sonic, Zaxby’s, QuikTrip, Food Lion, Applebee’s, Red Lobster, and numerous others. The are also numerous new home developments in the immediate trade area, including Bentley Park and Hunter’s Creek by D. R. Horton.
The subject property was initially constructed in 2019 with a brand new 20-year absolute NNN lease that includes 10 percent rental increases every five years. Currently there are over 15 years of initial term remaining, with four five-year options to extend.
Popeyes Louisiana Kitchen, Inc., founded in New Orleans in 1972, is a global brand and one of the world’s largest quick-service chicken restaurants. Known for its unique Cajun-inspired flavors and signature fried chicken, Popeyes has cultivated a loyal customer base and expanded significantly across the United States and internationally. The company was acquired by Restaurant Brands International (RBI), the parent company of Burger King and Tim Hortons, in 2017, which helped bolster its growth and global presence. Popeyes’ menu is heavily influenced by its Louisiana roots, offering a distinctive array of spicy chicken dishes, seafood, sides, and desserts. Its innovative and bold flavors, combined with strong brand equity, have driven successful new product launches, including its viral chicken sandwich in 2019, which significantly boosted sales and brand visibility. With a robust franchise model, Popeyes continues to experience sustained growth, operating over 3,000 locations worldwide and delivering strong brand performance.