605 N Krome Ave
Homestead, FL 33030
Popeyes · 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 at 605 N Krome Avenue, Homestead, Florida. The property consists of .47-acre improved with an approximately 2,287-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 more than 135 Popeyes in Florida, Georgia, Alabama, Mississippi and Louisiana. Annual base rent is set at $148,531, with 10 percent rental increases every five years in the base term, as well as the five five-year renewal options.Located in the heart of developing Downtown Homestead, this brand new Popeye’s will be an offset of an existing site, relocating blocks from the new Homestead Station breaking ground in 2018. The Station will feature a Showbiz Cinemas family entertainment center with movies, bowling, video arcade, transit center and parking garage and is part of an overall effort to revitalize Downtown Homestead with other recent projects that include the restored Seminole Theatre, new City Hall and new Police Headquarters.