popeyes - Skyline Seven Real Estate
POPEYES
6105 Ringgold Road, East Ridge (Chattanooga), TN For Sale: $1,887,000 - 5.50% CAP
PROPERTY HIGHLIGHTS • 20 year lease signed on January 1, 2015 with 3 x 5 year options • 10% rent increases every 5 years • NNN Lease - Tenant maintains and pays all expenses, including taxes and insurance. • Billboard on property - additional ground lease income of at least $4,800 per year • Located in a strong retail corridor right off of I-75, in the Chattanooga market • Strong Demographics with over 134,000 people living within 5 Demographics
1 Mile
3 Miles
5 Miles
Population
5,095
54,243
134,241
Households
2,308
23,329
55,374
Average HH Income
$44,080
$51,510
$51,373
OVERVIEW This investment offering is an excellent opportunity to acquire a recently constructed free-standing Popeye’s, including the land and building, located just south of Chattanooga. This Popeyes Franchisee is currently in the 2nd year of a 20 year NNN lease, that includes 10% increases every 5 years, and then 3 x 5 year options. There is additional income received by owning the land under the billboard, where Fairway Outdoor Advertising currently pays at least $4,800 per year. The ground lease for the billboard is through August 2025, with a 10 year auto renewal if it is not canceled after the initial 10 year lease. This Popeye’s is well located, on one of the major exit off of I-75, which also benefits for having additional traffic due it being south of where I-24 and I-75 split. For additonal information, please contact: Chase Murphy 404.812.8925 [email protected]
Elliott Kyle 404.812.8927 [email protected]
SKYLINE SEVEN REAL ESTATE 5825 Glenridge Drive Building 1, Suite 206 Atlanta, GA 30328 www.skylineseven.com
Main: 404.812.8910 Fax: 678.916.4149 [email protected]
6105 Ringgold Road, East Ridge (Chattanooga), TN For Sale: $1,887,000 - 5.50% CAP
PROPERTY HIGHLIGHTS • 20 year lease signed on January 1, 2015 with 3 x 5 year options • 10% rent increases every 5 years • NNN Lease - Tenant maintains and pays all expenses, including taxes and insurance. • Billboard on property - additional ground lease income of at least $4,800 per year • Located in a strong retail corridor right off of I-75, in the Chattanooga market • Strong Demographics with over 134,000 people living within 5 Demographics
1 Mile
3 Miles
5 Miles
Population
5,095
54,243
134,241
Households
2,308
23,329
55,374
Average HH Income
$44,080
$51,510
$51,373
OVERVIEW This investment offering is an excellent opportunity to acquire a recently constructed free-standing Popeye’s, including the land and building, located just south of Chattanooga. This Popeyes Franchisee is currently in the 2nd year of a 20 year NNN lease, that includes 10% increases every 5 years, and then 3 x 5 year options. There is additional income received by owning the land under the billboard, where Fairway Outdoor Advertising currently pays at least $4,800 per year. The ground lease for the billboard is through August 2025, with a 10 year auto renewal if it is not canceled after the initial 10 year lease. This Popeye’s is well located, on one of the major exit off of I-75, which also benefits for having additional traffic due it being south of where I-24 and I-75 split. For additonal information, please contact: Chase Murphy 404.812.8925 [email protected]
Elliott Kyle 404.812.8927 [email protected]
SKYLINE SEVEN REAL ESTATE 5825 Glenridge Drive Building 1, Suite 206 Atlanta, GA 30328 www.skylineseven.com
Main: 404.812.8910 Fax: 678.916.4149 [email protected]
