Current Use by Public Records
- Popeyes Louisiana Kitchen / Restaurant
- Loan For Any Purpose / Loan Service
Property Details for 2802 Wrightsboro Rd
- Year built
- 1984
- Property type
- Retail properties & Spaces
Description
This offering presents a leasehold interest in a thriving Popeyes fast-food restaurant situated on a prominent corner lot in Augusta, Georgia. The property boasts 3,378 square feet and is currently operating at 100% occupancy. The tenant, a franchisee with a proven track record operating 16 locations across Augusta and Charleston, SC, holds a Net Lease (NNN) agreement with a remaining term of approximately 7.1 years, expiring December 30, 2031. The lease commenced December 31, 2021, and includes two, five-year renewal options with rent escalations of 5% in 2027 and 10% at each option period. The property's strong financial performance is reflected in a Net Operating Income (NOI) of $120,000 and a cap rate of 7.00%. The asking price is $1,714,286, translating to a price per square foot of $507.49. Built in 1984 and renovated in 2013, this location benefits from its high-traffic position on Wrightsboro Road (20,500 vehicles per day) and Highland Avenue (11,100 vehicles per day), adjacent to major medical facilities, and surrounded by numerous national retailers. The underlying ground lease is with the Augusta's General Aviation Commission and includes five, five-year renewal options. This investment opportunity is structured for a 1031 exchange. Monthly sales data is available upon request.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Augusta
- County
- Richmond
- State
- Georgia
- Longitude
- -82.0326
- Latitude
- 33.4686
