
FAST FOOD TENANT REPORT:
POPEYES
Last Update: May 31, 2020
5.72% CAP
2019 AVERAGE CAP RATE
6.08% CAP
2018 AVERAGE CAP RATE
LEASE GUARANTY
Corporate & Franchisee
AVERAGE SALES / UNIT
$1,400,000 / Unit
TOTAL NUMBER UNITS (USA)
3,102 Units
AVERAGE BUILDING SIZE
2,400 SF
AVERAGE SALES PRICE
$2,055,238
TOP STATE WITH UNITS
Texas (14%)
CREDIT RATING
Moderate
AVERAGE NOI (RENT)
$116,469 / Year
AVERAGE LEASE TERM
15 Years
Rating by Moody's: B+
LOCATIONS MAP
TENANT PROFILE
Popeyes Louisiana Kitchen founded in New Orleans in 1972, Popeyes has more than 40+ years of history and culinary tradition. Popeyes distinguishes itself with a unique New Orleans Style menu featuring spicy chicken, chicken tenders, fried shrimp, and other regional items. The Chain's passion for its Louisheritage and flavorful authentic food has allowed Popeyes to become one of the world's largest quick service restaurant chicken concepts with over 3,000+ restaurants in the U.S. and around the world. In March 2017, Popeyes was acquired by Restaurant Brands International, Inc (NYSE: QSR) the third largest operator of Fast Food Restaurants in the world.
MARKET UPDATE
This tenant report has been prepared to provide summary, unverified financial and physical information about the subject tenant and to establish only a preliminary level of interest on the tenant or industry. The information contained herein is not a substitute for a thorough investigation. Marcus & Millichap, The Naran Group, or Neil Naran has not made any investigation, and makes no warranty or representation with respect to the information provided within this report, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this report has been obtained from sources we believe to be reliable; however, Marcus & Millichap, The Naran Group, or Neil Naran has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap, The Naran Group, or Neil Naran conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property. By reviewing this report you agree to release Marcus & Millichap, The Naran Group, or Neil Naran and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or review of this report.
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