Popeyes | New 20yr Abs NNN | 2023 Constuction 3205 Prince

Investment Highlights

Brand New 20-Year Lease | Scheduled Rental Increases | Franchisee Guaranteed | Growing Operator | Strong Market Direct Consumer Base | Limited Competition | Strong Demographics in 5-Mile Trade Area Located Along N. Prince St. (18,200 VPD) | Excellent Visibility | Dense Retail Corridor | Drive-Thru Equipped | Brand New Construction

Executive Summary

? The tenant recently signed a brand new 20-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site? The lease features 7% rental increases every 5 years throughout the initial term and option periods, growing NOI and hedging against inflation? The lease is guaranteed by a 25-unit entity. Guarantee is projected to grow into a30- unit operator? Tenant has signed an agreement with Popeyes corporate to develop 30 new stores in NM over the next four years. All 30 stores will be under the Legacy Chicken, LLC entity? Exceptional sales performance for new builds in this market

• Sale Type    Investment
• Property Type    Retail Retail General Retail Fast Food General Retail Freestanding General Retail Restaurant Retail
• Building Size    3,410
• Year Built    2023
• Price    3,123,000
• Price Per SF    916
• Cap Rate    5.75
• NOI    179,565
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.08
• Land Acres    1.01 AC

• Restaurant
• Signage
• Drive Thru