2248 South Blvd Montgomery, AL 36116
- Retail properties
- 2,572 SF
- 0.69 lot acres
Current Use by Public Records
- Popeyes Louisiana Kitchen / Cajun Restaurant / Fast Food Restaurant
Property Details for 2248 South Blvd
- Year built
- 2019
- Lot size
- 0.69 lot acres
- Property size
- 2,572 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a single-tenant, absolute NNN leased Popeyes restaurant located at 2248 E South Blvd, Montgomery, Alabama 36116. The property boasts a 19-year lease (commencing June 1, 2023, and expiring May 31, 2043), offering significant long-term stability. The 2,572 square foot building, constructed in 2019, sits on a 0.69-acre lot with ample parking (28 spaces). The property benefits from a strong location, with excellent visibility and access from South Blvd (U.S. Hwy 82), experiencing approximately 87,380 vehicles per day. It's an outparcel to Capitol Plaza, anchored by Capitol International Market, and enjoys proximity to Baptist Medical Center South, Governors Square shopping center, and JAG High School. The lease includes annual rent bumps, increasing by the greater of 2% annually or 7% of gross sales. A one-time increase of approximately 7.5% is also scheduled for 2026. The current Net Operating Income (NOI) is $89,300, representing a 6.25% cap rate. The tenant is a franchisee operating 61 Popeyes locations across Alabama, Florida, and Georgia, providing a strong operational background. The lease is structured with four, 5-year renewal options, further enhancing the long-term value of this investment. The property is currently 100% occupied. This is a truly exceptional opportunity for a passive income investment with significant upside potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Montgomery
- County
- Montgomery
- State
- Alabama
- Longitude
- -86.2669
- Latitude
- 32.3266
