Overview
Daphne Popeyes NNN Investment Opportunity
This Popeyes property features a brand new 20-year absolute NNN lease with 7.50% rental escalations every 5 years and four 5-year options to renew. The location has been successfully open and operating since 2023, demonstrating an 8.03% Rent to Sales Ratio. The lease is guaranteed by Ram-Z Restaurant Group, which includes 39 Freddy’s restaurants (including those currently under construction), making it the 6th largest Freddy’s franchisee in the U.S., and 35 Schlotzsky’s restaurants, making it the largest Schlotzsky’s franchisee in the country (81 total unit guaranty). Situated on a ±0.74-acre lot, the property benefits from high visibility on US-98, the main north/south thoroughfare in Daphne, with traffic counts of 36,653 CPD. The asset is located across the street from Target. Major retailers within 5 miles include Target, Walmart, Bass Pro Shops, Home Depot, Dick’s Sporting Goods, T.J. Maxx, Cavender’s, Staples, Five Below, Petco, Pet Supermarket, Ulta Beauty, Aldi, Rouses Market, The Fresh Market, Publix, Tractor Supply Co., Harbor Freight Tools, La-Z-Boy, Dollar Tree, Dollar General, CVS, Anytime Fitness, and AMC Theatres. The property is 3.5 miles from Thomas Medical Center, which offers a full-service laboratory and diagnostic services, including Cardiac scoring, X-ray services, Ultrasound, CT scans, Open MRIs, Bone Density, and 3D Mammography. Daphne is a charming bayside destination less than 40 miles from the Alabama Gulf Shores. In 2024, the Alabama Gulf Shores saw a record number of tourists, with over 6.5 million visitors and almost $6.7 billion in total visitor spending. Baldwin County had 8.4 million visitors, resulting in $7.8 billion in total visitor spending. The property size is 2,250 square feet.
