2201 Paramount Blvd, Amarillo, TX 79109-1703
- Drive through restaurants
- 2,431 SF
- 0.69 lot acres
Current Use by Public Records
- Popeyes Louisiana Kitchen / Restaurant
Property Details for 2201 Paramount Blvd
- Year built
- 1978
- Lot size
- 0.69 lot acres
- Zone code
- LC
- Property type
- Drive through restaurants
- APN
- R-044-4900-2900
- APU
- R04449002900
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Feb 24, 2023 | — | Tahan Properties Five LLC | David Stavola | Special Warranty Deed | — |
| Sep 2, 2022 | — | David Stavola | Hz Southeast Props LP | Special Warranty Deed | — |
| Jul 30, 2018 | — | Hz Props Re Ltd | Z & H Foods INC | Grant Deed · related | — |
| Jun 7, 2016 | — | Z & H Foods INC | — | Deed · related | $235M · Ge Cap Franchise Fin |
| Jun 26, 2014 | — | Z & H Foods INC | — | Grant Deed · related | $85M · General Elec Cap |
| Sep 23, 2013 | — | Z & H Foods INC | Lewis Investments INC | Grant Deed | $1.3M · Texas Capital Bank NA |
| — | — | Lewis Investments INC | — | Deed Of Trust · related | — |
| — | — | Z & H Foods INC | — | Deed Of Trust · related | $235M · Ge Cap Franchise Fin |
| — | — | Lewis Investments INC | — | Loan Modification · related | — |
Description
This exceptional investment opportunity presents a fee-simple 2,431 square foot Popeyes restaurant situated on a 0.7-acre lot at 2201 Paramount Boulevard in Amarillo, Texas. The property boasts a prime location within a thriving retail corridor, conveniently positioned as an outparcel to a recently renovated Gold's Gym. The building, constructed in 1978 and renovated in 2024, benefits from a highly favorable 20-year absolute-net lease with a national franchisee, Popeyes, featuring 18 years remaining. The lease includes a 10% rent increase every five years, ensuring consistent and growing income. The tenant, Dhanani Group, operates over 1,000 units nationwide, including 375 Popeyes locations, providing exceptional financial strength and stability. The property's strong financials are highlighted by a 5.50% cap rate and a net operating income (NOI) of $133,825, with an asking price of $2,433,000 ($1,100 per square foot). Additional income streams may be generated from a double-sided billboard. The property is zoned LC and features ample parking and a convenient drive-thru. This investment offers a compelling combination of a strong tenant, long-term lease, and a desirable location in a high-traffic retail area near other national retailers such as Home Depot, Red Lobster, Church's, Smoothie King, and Chick-fil-A. The property's parcel number is R-044-4900-2900-0.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Amarillo
- County
- Potter
- State
- Texas
- Longitude
- -101.873
- Latitude
- 35.1898
- CBSA code
- 11100
- CBSA name
- AMARILLO, TX METROPOLITAN STATISTICAL AREA
