Property Details for 2248 South Blvd

Year built

2019

Lot size

0.69 lot acres

Property size

2,572 SF

Property type

Retail properties & Spaces

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.

Location Insight

City

Montgomery

County

Montgomery

State

Alabama

Longitude

-86.2669

Latitude

32.3266