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Popeyes 700 N Canal Blvd 2,599 SF Retail Building Thibodaux, LA 70301 $3,215,507 ($1,237.21/SF) 5.75% Cap Rate
Investment Highlights
- Strong Franchisee Guarantee
- Strong Unit-Level Financials
- Rare, 25-Year, Absolute Triple-Net (NNN) Sale-Leaseback
- Strong Underlying Real Estate
Executive Summary
Surmount is pleased to present the exclusive listing for a Popeyes located at 700 N Canal Blvd, Thibodaux, LA 70301. The site consists of roughly 2,599 rentable square feet of building space on an estimated 1.33-acre parcel of land. This Popeyes is subject to a 25-year Triple Net (NNN) lease which will commence upon close of escrow. The annual rent will be $184,892 and has scheduled increases of 1.75% annually.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,599 SF
Building Class
C
Year Built
2005
Price
$3,215,507
Price Per SF
$1,237.21
Cap Rate
5.75%
NOI
$184,892
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.33 AC
Nearby Major Retailers
Property Taxes
| Parcel Number | 0052846795 | Improvements Assessment | $58,470 |
| Land Assessment | $31,500 | Total Assessment | $89,970 |
Property Taxes
Parcel Number
0052846795
Land Assessment
$31,500
Improvements Assessment
$58,470
Total Assessment
$89,970
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Popeyes | 700 N Canal Blvd
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