2248 E South Blvd | Montgomery, AL 36116
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2248 E South Blvd
Montgomery, AL 36116
Popeye's | 19-Yr NNN | 2%+ Annual Bumps · Retail Property For Sale
Executive Summary
PROPERTY HIGHLIGHTS
• Long-term investment | 19 years remaining on the absolute NNN lease | Zero Landlord responsibilities
• Unique rental increases | 2% annual increases with a one-time, ±7.5% increase in 2026
• Strong & experienced operator | Tenant operates 61 Popeyes through AL, GA, and FL
• Healthy rent-to-sales ratio | Tenant operated at a ±7% rent-to-sales ratio in2023 | Speak with Agent for details
• Excellent access and visibility from South Blvd (aka U.S. Hwy 82) which sees a robust ±87,380 VPD
• Outparcel to Capitol Plaza | Anchored by Capitol International Market
• Walking distance to:
– Baptist Medical Center South | 432-bed hospital
– Governers Square shopping center | Anchored by Planet Fitness & Hibbett Sports
– Johnson Abernathy Graetz (JAG) High School | 1,760 students
• About 1.5 miles from:
– A Walmart Supercenter-anchored shopping center
– A Roses and Home Outlet-anchored shopping center
– Trenholm State Community College | 1,526 students
POPEYES HIGHLIGHTS
• Popeyes was acquired by Restaurant Brands International in 2017 for $1.8B
• Popeyes is the 2nd largest chicken chain in the U.S. with 3,050+ units (4,220+ units globally)
– Plans to grow to 4,200 total U.S. & Canada locations by 2028
– Plans to grow to 7,000 global locations by 2028
– $6.8B in systemwide sales in 2023
• #3 QSR in the Chicken Segment for U.S. systemwide sales, according to QSR Magazine
• #3 in QSR wings segment
• The introduction of the chicken sandwich increased the average unit volume for Popeyes by over 25
• Long-term investment | 19 years remaining on the absolute NNN lease | Zero Landlord responsibilities
• Unique rental increases | 2% annual increases with a one-time, ±7.5% increase in 2026
• Strong & experienced operator | Tenant operates 61 Popeyes through AL, GA, and FL
• Healthy rent-to-sales ratio | Tenant operated at a ±7% rent-to-sales ratio in2023 | Speak with Agent for details
• Excellent access and visibility from South Blvd (aka U.S. Hwy 82) which sees a robust ±87,380 VPD
• Outparcel to Capitol Plaza | Anchored by Capitol International Market
• Walking distance to:
– Baptist Medical Center South | 432-bed hospital
– Governers Square shopping center | Anchored by Planet Fitness & Hibbett Sports
– Johnson Abernathy Graetz (JAG) High School | 1,760 students
• About 1.5 miles from:
– A Walmart Supercenter-anchored shopping center
– A Roses and Home Outlet-anchored shopping center
– Trenholm State Community College | 1,526 students
POPEYES HIGHLIGHTS
• Popeyes was acquired by Restaurant Brands International in 2017 for $1.8B
• Popeyes is the 2nd largest chicken chain in the U.S. with 3,050+ units (4,220+ units globally)
– Plans to grow to 4,200 total U.S. & Canada locations by 2028
– Plans to grow to 7,000 global locations by 2028
– $6.8B in systemwide sales in 2023
• #3 QSR in the Chicken Segment for U.S. systemwide sales, according to QSR Magazine
• #3 in QSR wings segment
• The introduction of the chicken sandwich increased the average unit volume for Popeyes by over 25
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,572 SF
Building Class
C
Year Built
2019
Price
$1,429,000
Price Per SF
$556
Cap Rate
6.25%
NOI
$89,300
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.69 AC
Zoning
C - Commercial
Parking
28 Spaces (10.89 Spaces per 1,000 SF Leased)
Frontage
200 FT on East South Boulevard
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