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Popeyes 14274 University Ave 2,599 SF Retail Building Hammond, LA 70401 $2,364,988 ($909.96/SF) 5.75% Cap Rate
Investment Highlights
- Strong Franchisee Guarantee
- Strong Unit-Level Financials
- Rare, 25-Year, Absolute Triple-Net (NNN) Sale-Leaseback
- Proximity to Southeastern Louisiana University
Executive Summary
Surmount is pleased to present the exclusive listing for a Popeyes located at 14274 University Ave, Hammond, LA 70401. The site consists of roughly 2,599 rentable square feet of building space on an estimated 0.31-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 $135,987 and has scheduled increases of 1.75% annually.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,599 SF
Building Class
B
Year Built
2009
Price
$2,364,988
Price Per SF
$909.96
Cap Rate
5.75%
NOI
$135,987
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.40 AC
Nearby Major Retailers
Property Taxes
| Parcel Number | 01831518 | Improvements Assessment | $80,022 |
| Land Assessment | $0 | Total Assessment | $80,022 |
Property Taxes
Parcel Number
01831518
Land Assessment
$0
Improvements Assessment
$80,022
Total Assessment
$80,022
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Popeyes | 14274 University Ave
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