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1565 Main St
Willimantic, CT 06226
Popeyes | Sale Leaseback · Retail Property For Sale
Investment Highlights
- Popeyes is executing a new 15-year absolute NNN lease with two (2), five-year renewal options, offering long-term passive income.
- NNN Ground Lease, the tenant is responsible for all operating expenses including taxes, insurance, CAM, and maintenance.
- More than 38,000 residents within a one-mile radius and projected population growth of 1.5% by 2029.
- The lease is backed by AP Northeast Management LLC, a seasoned, multi-state and multi-unit restaurant operator.
- The lease features 10% rental increases every five (5) years throughout the base term and option periods.
Property Facts
Sale Type
Investment NNN
Property Type
Building Size
2,363 SF
Building Class
B
Year Built
2022
Price
$2,400,000
Price Per SF
$1,015.66
Cap Rate
5%
NOI
$120,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.77 AC
Zoning
B2A
Frontage
117’ on West Main Street
Property Taxes
| Parcel Number | WIND-001001-000009-000073 | Improvements Assessment | $469,980 |
| Land Assessment | $272,870 | Total Assessment | $742,850 |
Property Taxes
Parcel Number
WIND-001001-000009-000073
Land Assessment
$272,870
Improvements Assessment
$469,980
Total Assessment
$742,850
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