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Popeye's 876 N Eastern Blvd 2,421 SF Retail Building Montgomery, AL 36117 $2,408,000 ($994.63/SF) 6% Cap Rate
Investment Highlights
- Absolute NNN Lease: The property is secured by a long-term absolute NNN lease with approximately 16 years remaining, providing passive income
- Strong Demographics: The asset is supported by a dense population of 154,768 residents within a five-mile radius and over 20,000 daytime employees
- High-Traffic Location: Situated along N Eastern Blvd with traffic counts exceeding 40,500 vehicles per day, the property benefits
- Upcoming High School Development: The planned Percy Julian High School, projected to serve 2,000 students and open in Spring 2028
- Limited Internal Competition: The subject property benefits from strong market positioning, with the nearest Popeyes located 8 miles away
- Proximity to Key Demand Drivers: Located near major regional anchors including Eastdale Mall and 8 miles from Alabama State University
Executive Summary
Broker of Record
Hutt Cooke
License # License # 000110253 - 0, 000168807-0 (AL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Hutt Cooke
License # License # 000110253 - 0, 000168807-0 (AL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,421 SF
Building Class
B
Year Built
2020
Price
$2,408,000
Price Per SF
$994.63
Cap Rate
6%
NOI
$144,480
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
0.86 AC
Zoning
CG
Parking
32 Spaces (13.22 Spaces per 1,000 SF Leased)
Frontage
150’ on Eastern Blvd
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
- -
- $53.71
- Triple Net
- Jan 2040
Founded in New Orleans in 1972 by Al Copeland, the company began as a small fried chicken restaurant and later became known for a Louisiana-inspired approach to quick-service dining. The business serves fried chicken, chicken sandwiches, tenders, seafood, biscuits, desserts, and regional sides, with franchising forming a major part of the operating model. A broad restaurant network now supports service across the United States and international markets, and digital ordering, delivery, and franchise development remain part of the company's business mix.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | - | $53.71 | Triple Net | Jan 2040 |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 04-07-36-3-000-001.001 | Improvements Assessment | $110,120 |
| Land Assessment | $71,180 | Total Assessment | $181,300 |
Property Taxes
Parcel Number
04-07-36-3-000-001.001
Land Assessment
$71,180
Improvements Assessment
$110,120
Total Assessment
$181,300
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Popeye's | 876 N Eastern Blvd
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