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Popeyes (Price Reduced - Submit Offers) 3350 S Cobb Dr SE 2,256 SF Retail Building Smyrna, GA 30080 $2,420,000 ($1,072.70/SF) 6% Cap Rate
Investment Highlights
- Popeyes is a globally recognized and fast-growing QSR brand with strong international brand loyalty - over 4,000 restaurants globally.
- Long-term Absolute NNN lease ending in 2033, w/ rent increases every 5 years, and 3 x 5-year renewal options - the restaurant was remodeled in 2015
- Highly visible location north of Atlanta along South Cobb Drive, a major commercial corridor in Smyrna and greater Cobb County, with 31K cars per day.
- Leased to C&M Foods Group LLC, a 14-unit Popeyes operator in Georgia, backed by experienced multi-unit franchisees.
- Freestanding restaurant with fee-simple real estate ownership, providing depreciation benefits - large corner lot.
- Strong north Atlanta suburban retail market with dense surrounding residential.
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 C&M Foods Group LLC, which acquired a 14-unit Popeyes Louisiana Kitchen portfolio across Georgia and is backed by experienced multi-unit franchise operators with extensive restaurant and real estate experience. The long-term absolute NNN lease provides 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/Renovated
1989/2015
Price
$2,420,000
Price Per SF
$1,072.70
Cap Rate
6%
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
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
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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Popeyes (Price Reduced - Submit Offers) | 3350 S Cobb Dr SE
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