1715 Tipton St Seymour, IN 47274-3561

Property Details for 1715 Tipton St

Year built

2003

Construction

WOOD

Lot size

1.35 lot acres

Property size

5,307 SF

Zone code

4

Property type

Turn key restaurants

APN

36-66-16-400-007.000-009

APU

366616400007000009

Description

This fee-simple, 2,255 sq ft Popeyes restaurant in Seymour, Indiana, presents a compelling investment opportunity. Built in 2018, it sits on a 1.35-acre lot and boasts a 20-year triple-net (NNN) lease with a franchisee tenant, commenced December 20, 2019, and expiring December 31, 2039. The current annual net operating income (NOI) is $75,000, representing a 6.00% cap rate on the $1,250,000 asking price. The lease includes attractive rental increases, with a 1% annual increase starting in 2030 and six five-year tenant renewal options. The property benefits from its location in an affluent area, with average household incomes exceeding $73,100 within a ten-mile radius. This low-maintenance, high-return investment offers significant long-term potential. The property is 100% occupied and features a strong tenant with a proven track record. The lease structure minimizes landlord responsibilities, making this an ideal addition to any portfolio. The property's location at 1715 E Tipton St, Seymour, IN 47274, ensures high visibility and accessibility. The price per square foot is $554.32. This is a rare opportunity to acquire a well-established, high-performing restaurant property with a long-term lease.