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Popeyes | 9+yrs Remain Abs NNN Grd Lse 1925 Sebastopol Rd 3,500 SF Retail Building Santa Rosa, CA 95407 $3,227,000 ($922/SF) 4.50% Cap Rate

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INVESTMENT HIGHLIGHTS

9+ Years Remaining | Options to Extend | Experienced Operator
Hard Corner Intersection (62,500 VPD) | Hwy 101 (130,000 VPD) |Across From Grocery Anchored Center (3M+ Annual Visits)|

Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities
Strong Demographics In 5-Mile Trade Area | Affluent Community

EXECUTIVE SUMMARY

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee simple (land ownership) in an absolute NNN, drive-thru equipped, Popeyes investment property located in Santa Rosa, California. The tenant, Norcal Cajun Foods II, Inc., has over 9 years remaining with 3 (5-year) options to extend. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. The store is in the process of being remodeled in accordance with the brand’s modern store prototype using state-of-the-art materials (see page 7 for details).

PROPERTY FACTS

Sale Type

Investment NNN

Sale Condition

Ground Lease (Leased Fee)

Property Type

Retail

Property Subtype

Freestanding

Building Size

3,500 SF

Year Built

2017

Price

$3,227,000

Price Per SF

$922

Cap Rate

4.50%

NOI

$145,200

Tenancy

Single

Building Height

1 Story

Building FAR

0.33

Lot Size

0.24 AC

Opportunity Zone

Yes

Zoning

CG - General Commercial

Parking

22 Spaces (6.29 Spaces per 1,000 SF Leased)

Frontage

200’ on Stony Point Rd

Corner Lot
Restaurant

Signage

Signalized Intersection

Monument Signage

Accommodation and Food Services
99,999 SF
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Popeyes is a global quick-service restaurant brand focused on Louisiana-style fried chicken and related menu offerings. The company was founded in 1972 in the New Orleans suburb of Arabi, Louisiana, by entrepreneur Alvin C. Copeland Sr. Originally operating as “Chicken on the Run,” the concept was rebranded as Popeyes after introducing a spicier Cajun-influenced recipe that differentiated it from national competitors. Popeyes expanded through franchising beginning in the mid-1970s and established itself as a leading chicken-focused quick-service brand in the United States before expanding internationally.