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Popeyes 709 W Tunnel Blvd 2,531 SF Retail Building Houma, LA 70360 $2,009,279 ($793.87/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Strong Franchisee Guarantee
- Strong Unit-Level Financials
- Rare, 25-Year, Absolute Triple-Net (NNN) Sale-Leaseback
- Strong Brand Recognition in a Prime Location with High Traffic
EXECUTIVE SUMMARY
Surmount is pleased to present the exclusive listing for a Popeyes located at 599 W Tunnel Blvd, Houma, LA 70360. The site consists of roughly 2,531 rentable square feet of building space on an estimated 0.69-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 $115,534 and has scheduled increases of 1.75% annually.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,531 SF
Year Built
1989
Price
$2,009,279
Price Per SF
$793.87
Cap Rate
5.75%
NOI
$115,534
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.69 AC
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 9616 | Improvements Assessment | $50,960 |
| Land Assessment | $13,130 | Total Assessment | $64,090 |
PROPERTY TAXES
Parcel Number
9616
Land Assessment
$13,130
Improvements Assessment
$50,960
Total Assessment
$64,090
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Popeyes | 709 W Tunnel Blvd
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