876 N Eastern Blvd
Montgomery, AL 36117
Popeye's · 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 876 N Eastern Blvd in East Montgomery, Alabama. The property consists of a 0.86 acre parcel improved with an approximately 2,532-square foot building. The newly constructed restaurant will have a brand new 20-year lease at the close of escrow with a seasoned RBI Brands Franchisee operating over 200 restaurants. This franchisee has been a Burger King and Popeyes operator for over a decade and is one of the fastest growing Franchisees in the entire system. In 2015, this operator was awarded “Franchisee of the Year”. Annual base rent is set at $136,000 with 7.5 percent rental increases every five years in the base term, as well as the four five-year renewal options.? The restaurant is located directly on N Eastern Blvd which experiences traffic counts exceeding 31,000 cars per day. Eastern Blvd along with Northern, Western and Southern Boulevards make up continuous road that circumvents the stabilized market of Montgomery which has been a very steady market over the last decade. This property is only minutes from Faulkner University and Maxwell Airforce base. Montgomery is also the State capitol of Alabama and the county seat of Montgomery County. Several State Universities have campuses in Montgomery including Auburn, Troy, Alabama State University. Montgomery has also been recognized nationally for its downtown revitalization and new urbanism projects. It was one of the first cities to implement Smart Code Zoning.?