2201 Paramount Blvd Amarillo, TX 79109-1703

Property Details for 2201 Paramount Blvd

Year built

1978

Lot size

0.69 lot acres

Property size

2,431 SF

Zone code

LC

Property type

Drive through restaurants

APN

R-044-4900-2900

APU

R04449002900

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.