Freestanding Popeyes
For Sale
$2,601,626
3501 Lake City Hwy, Warsaw, IN 46580
2022-built restaurant with drive-through on an absolute NNN lease beginning June 2026.
Property Size1,958 SF
Lot Size0.67 Acres
Price / SF$1,328
Days on Market60
Property Features for 3501 Lake City Hwy
General Information
Standard status
Active
Size
1,958 SF
Lot size
0.67 Acres
Property subtype
Restaurant
Lease Type
Absolute Net
Additional Details
Cap Rate
6.15%
Traffic Count
25,422 vehicles/day
Amenities
Brand New 20-Year Absolute NNN Lease Commencing June 2026 | Zero Landlord Responsibilities
Four (4) Five-Year Renewal Options Providing Up to 40 Years of Total Term
Scheduled 10% Rent Increases Every 5 Years | $160,000 NOI at 6.15% CAP
Operated by Award-Winning Franchisee | 2024 Popeyes Developer of the Year & 2022 Franchisee of the Year
Popeyes Operates 3,700+ Locations Globally as a Subsidiary of Restaurant Brands International
Located Along Lake City Hwy (US-30) | ±25,422 VPD | Strong Northern Indiana Retail Corridor
Building Details
Building Size
1,958 SF
Year Built
2022
Tenancy
Single
Listing Agency:
Marcus & Millichap | Indianapolis
(310) 909-2394
Listed By:
Jason Fefer · License #License(s): CA: 02100489
(310) 909-2394
Source:
Marcusmillichap
Added: Jun 22
Changed: Aug 8
Last Checked: Aug 19 at 4:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap | Indianapolis
Investment Insights
Based on property information with market context.
Marcus & Millichap is pleased to present a freestanding Popeyes drive-thru restaurant built in 2022. The 1,958-square-foot property sits on 0.67 acres and is secured by a brand-new 20-year absolute NNN lease commencing June 2026, with zero landlord responsibilities and four (4) five-year renewal options. Scheduled annual base rent of $160,000 begins August 2026, with 10% rent increases every five years.
The property is located along Lake City Highway (US-30) at its intersection with E Old Rd 30, with reported 15,690 VPD at the intersection and 25,422 VPD along Warsaw’s primary east-west commercial corridor. Adjacent and nearby businesses include Rural King, Dollar General, Wings Etc., and Paragon Medical.
The offering reflects an operating history by a Popeyes franchisee with an extensive multi-state portfolio and a personal guaranty in place (details available with the agent).
The property is located along Lake City Highway (US-30) at its intersection with E Old Rd 30, with reported 15,690 VPD at the intersection and 25,422 VPD along Warsaw’s primary east-west commercial corridor. Adjacent and nearby businesses include Rural King, Dollar General, Wings Etc., and Paragon Medical.
The offering reflects an operating history by a Popeyes franchisee with an extensive multi-state portfolio and a personal guaranty in place (details available with the agent).
Key Highlights
- 1,958 SF Popeyes drive‑thru restaurant built in 2022 on 0.67 acres in Warsaw, IN
- New 20‑year absolute NNN lease begins June 2026 with zero landlord responsibilities and four 5‑year renewal options
- Annual base rent $160,000 starts August 2026 with scheduled 10% rent increases every five years
Property Analytics
Property Profile
Current Use
Lease Details
25,422 VPD
Traffic count
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
324
Businesses Nearby
145k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Home Improvements & Furnishings 19%
Shops & Services 13%
Office Supplies 5%
McDonald's
Dining
30,593 visits/mo
0.5 miles
Rural King
Home Improvements & Furnishings
28,273 visits/mo
0.2 miles
Wendy's
Dining
15,146 visits/mo
0.1 miles
Arby's
Dining
11,067 visits/mo
0.1 miles
Marathon
Shops & Services
8,597 visits/mo
0.3 miles
Demographics for 46580, IN
22,381
Population
8,873
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
88%
High-School Grad
71.1 sq mi
ZIP Area
315
Density / Sq Mi
$70,978
Median Household Income
$40,231
Median Earnings
$963
Median Rent
$175,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - 2022-built restaurant with drive-through on an absolute NNN lease beginning June 2026.
Where is this drive through restaurant located?
The property is located at 3501 Lake City Hwy Warsaw, IN.
What is the asking price?
The asking price for this property is $2,601,626.
What are key features of this property?
This property features: 1,958 SF Popeyes drive‑thru restaurant built in 2022 on 0.67 acres in Warsaw, IN; New 20‑year absolute NNN lease begins June 2026 with zero landlord responsibilities and four 5‑year renewal options; Annual base rent $160,000 starts August 2026 with scheduled 10% rent increases every five years
