3390 1st W St Bradenton, FL 34208-4057

This exceptional investment opportunity presents a 1,785 square foot Popeyes restaurant located at 3390 1st St, Bradenton, FL 34208, in Manatee County. The property sits on a 0.62-acre lot and boasts a brand new 20-year absolute NNN lease commencing May 31, 2024, and expiring May 30, 2044, with a remaining term of 19.5 years. The lease includes four 5-year renewal options, each with a 10% rent increase. The current annual net operating income (NOI) is $140,047, resulting in a 5.00% cap rate. The asking price is $2,800,940, translating to a price per square foot of $1,569.15. Built in 1984 and completely renovated in 2022, this single-tenant property benefits from a franchisee tenant with a proven operational history of over 30 years. The lease guarantees zero landlord responsibilities. The property is situated in a high-traffic retail corridor with over 37,500 vehicles daily, surrounded by other retailers, apartments, and schools. The location is within a densely populated area, serving a 5-mile radius with over 207,900 residents. The tenant, guaranteed by Sailormen Inc., operates approximately 150+ units and is headquartered in Miami. This investment offers significant long-term value and stability due to the strong tenant, favorable lease terms, and prime location.