3870 S Ferdon Blvd
Crestview, FL 32536
Retail Property For Sale

Marcus & Millichap is pleased to present for sale this single-tenant, absolute triple-net lease Popeyes Louisiana Kitchen Restaurant investment opportunity located in Crestview, FL, part of the Panhandle’s Gulf Coast region. The property consists of 1.07 acres improved with an approximately 2,265-square foot building. The newly constructed restaurant has a brand new 15-year lease in place with Sailormen, Inc, one of the largest domestic franchisees of Popeyes Louisiana Kitchen restaurants, currently operating 98 Popeyes in Florida and Georgia, with approximately eight to ten new restaurants being built every year. Annual base rent is set at $131,839 with 10 percent rental increases every five years in the base term, as well as the five five-year renewal options. The brand-new construction Popeyes is located right off Exit 56 on Interstate 10, the southernmost highway connecting all the Gulf Coast states. With outstanding traffic counts of approximately 52,000 cars per day, the subject property is surrounded by numerous national retailers including a number of new and reimaged hotels like the Baymont Inn, Hampton Inn, Holiday Inn, and restaurants such as Wendy’s, Arby’s, Zaxby’s, Whataburger, Cracker Barrel, McDonald’s, Panera Bread, Dunkin’ Donuts and Starbucks. In addition, the property sits less than a mile away from a Walmart Supercenter located on the same retail corridor of South Ferdon Boulevard.