1599 Us 49 Magee, MS 39111

This exceptional investment opportunity presents a fee-simple, 2,443 square foot Popeyes restaurant located at 1599 US 49 in Magee, Mississippi (zip code 39111). The property sits on a 1.3-acre lot and boasts a new 20-year Absolute NNN lease commencing November 6, 2023, and expiring November 30, 2043, with four 5-year renewal options. The lease includes a 10% rent increase every five years and at each option period. The property features excellent visibility and accessibility from US Highway 49, a primary retail corridor. Nearby competitors include McDonald's, Wendy's, Subway, Taco Bell, Burger King, and O'Reilly Auto Parts, along with a Walmart. The tenant, High Noon Restaurant Group, operates 91 Popeyes locations across Louisiana and Mississippi. This specific location generated over $2.4 million in net sales in 2022, exceeding the Popeyes system-wide average by 31%. Placer.Ai data ranks this location in the 87th percentile of all Popeyes locations for daily visits. The asking price is $3,386,000, representing a 5.85% cap rate and a price per square foot of $1,386. The property's Net Operating Income (NOI) is $198,063. Built in 2010, this property offers a secure, long-term investment with significant upside potential. The property is available separately or as part of a portfolio.