1411 W Ehringhaus St
Elizabeth City, NC 27909
Popeyes Louisiana Kitchen · Retail Property For Sale

Price $1,272,727 Cap Rate 5.50% NOI $70,000 Price Per SF $471 Leasable Area 2,700 SF Term Remaining 15 YRS Year Built 2018 Occupancy 100% Status available VIEW MAP LISTED BY GARY CHOU SVP & SENIOR DIRECTOR GARY.CHOU@MATTHEWS.COM (310) 919-5827License No. 01911222 DOWNLOAD OFFERING MEMORANDUM Broker of Record Kyle Matthews License No. C27092 Matthews Retail Group, Inc. 841 Apollo Street Suite 150, El Segundo, CA 90245 (310) 919-5757 INVESTMENT HIGHLIGHTS SECURED LONG-TERM TENANT Recently Converted Location – This store just opened in 2018 and significant improvements were made to get the site up to Popeyes standards Ground Lease Investment – Tenant is currently paying low rent and has a strong incentive to stay since they get to depreciate the building! Long-Term Lease – Tenant signed a brand new 15-year lease with Three (3), 5-Year options to extend Absolute NNN Lease – Tenant takes care of all landlord responsibilities including tax, insurance, maintenance, roof and structure Growing Cash Flow – There are 10% increases every 5 years – Excellent hedge against inflation! GROWTH-FOCUSED OPERATOR Substantial Franchisee Guarantee – Pure Foods Management is a 50+ unit Popeyes operator with revenues exceeding $60mm annually Experienced Operator – Pure Foods Management has been in business for over 18 years with plans to grow operations to $100mm annually STRONG RETAIL LOCATION Main Retail Corridor – Nearby national retailers include Lowe’s, Food Lion, OfficeMax, Panera Bread, Applebee’s, Burger King, Walgreens, Chick-fil-A, Dunkin’ Donuts and Wendy’s, among many others Excellent Traffic Counts – Popeyes sits on W Ehringhaus St, which is the busiest road in Elizabeth City with an average daily traffic count of 22,000 cars per day