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3350 S Cobb Dr SE
Smyrna, GA 30080
Popeyes · Retail Property For Sale
Investment Highlights
- Popeyes is a globally recognized and fast-growing QSR brand with strong national brand loyalty
- Long-term Absolute NNN lease with rent increases every five years and three x fiveyear renewal options.
- Highly visible freestanding location on South Cobb Drive in Smyrna, GA, with 30,800 VPD
- Leased to GPS Hospitality Ventures, LLC, a proven multi-brand franchisee with 400+ restaurants in 12 states
- Freestanding restaurant with fee-simple real estate ownership, providing depreciation benefits.
- Strong Atlanta suburban infill market with dense surrounding residential neighborhoods.
Executive Summary
This investment offering presents the opportunity to acquire a free-standing Popeyes restaurant located north of Atlanta in Smyrna, Georgia, within the highly desirable Cobb County submarket of metro Atlanta. The property is leased to Nashville Restaurant Management, LLC, an experienced Popeyes franchise operator, under a long-term absolute NNN lease, providing passive income with no landlord responsibilities.
The lease commenced in 2013 with an initial 20-year term and includes three x five-year renewal options. Rental increases occur every five (5) years, including during the option periods, providing built-in income growth over the life of the lease. The offering includes ownership of the real estate (not a ground lease), allowing the investor to benefit from depreciation of the building.
The lease commenced in 2013 with an initial 20-year term and includes three x five-year renewal options. Rental increases occur every five (5) years, including during the option periods, providing built-in income growth over the life of the lease. The offering includes ownership of the real estate (not a ground lease), allowing the investor to benefit from depreciation of the building.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,256 SF
Building Class
B
Year Built
1989
Price
$2,482,000
Price Per SF
$1,100.18
Cap Rate
5.85%
NOI
$145,200
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.72 AC
Zoning
GC
Parking
25 Spaces (11.08 Spaces per 1,000 SF Leased)
Frontage
245’ on Cobb Dr
Amenities
- Bus Line
Property Taxes
| Parcel Numbers | Improvements Assessment | $127,800 | |
| Land Assessment | $193,936 | Total Assessment | $321,736 |
Property Taxes
Parcel Numbers
Land Assessment
$193,936
Improvements Assessment
$127,800
Total Assessment
$321,736
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