Current Use by Public Records
- Popeyes Louisiana Kitchen / Restaurant
Property Details for 3319 Altama Ave
- Year built
- 1995
- Lot size
- 0.27 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a fee-simple ownership of a 1,708 square foot Popeyes restaurant located at 3319 Altama Ave, Brunswick, GA 31520. The property boasts a brand new 20-year absolute NNN lease, commencing May 31, 2024, and expiring May 30, 2044, with a remaining term of 19.5 years. The lease includes four 5-year renewal options, each with a 10% rent increase. Rent bumps of 10% are also built in every 5 years, starting May 1, 2029. The property features a 6.00% cap rate and a strong net operating income (NOI) of $105,047. The asking price is $1,750,783, translating to a price per square foot of $1,025.05. Built in 1995 and renovated in 2014, this single-unit building sits on a 0.27-acre lot and enjoys 100% occupancy. The tenant, a Popeyes franchisee guaranteed by Sailormen Inc., one of the largest Popeyes operators, demonstrates a significant commitment to the location with over 30 years of operating history in the area. The property benefits from its strategic location in a dense retail corridor, near a major hospital, schools, and apartments, ensuring high customer traffic. The corner location at a busy intersection boasts a combined traffic count of 30,000 vehicles per day. This is a rare opportunity to acquire a stable, high-performing investment with significant long-term growth potential.
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
- Brunswick
- County
- Glynn
- State
- Georgia
- Longitude
- -81.4905
- Latitude
- 31.1779
