Current Use by Public Records
- Retail properties & Spaces
Property Details for 1599 Us 49
- Year built
- 2010
- Lot size
- 1.30 lot acres
- Property type
- Retail properties & Spaces
Description
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.
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
- Magee
- County
- Simpson
- State
- Mississippi
- Longitude
- -89.7435
- Latitude
- 31.8685
