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2802 Wrightsboro Rd
Augusta, GA 30909

Popeye's · Retail Property For Sale

Investment Highlights

  • Leasehold Interest in NNN Popeyes Restaurant | Franchisee Guarantee
  • Just Over 9 Years Remaining on NNN Lease | Tenant Pays All Expenses, Including Ground Lease Rent
  • Ground Lease with General Aviation Commission | Five, 5-Year Options to Renew as of 7/31/2022
  • Highest Performing Location in the Augusta, GA MSA | 16 Total Locations in Augusta and Charleston, SC
  • Popeyes has Two, 5-Year Options to Renew with 10% Escalations | 5% Escalation Every 5 Years During Base Term
  • Tenant Reports Sales Monthly | Average Monthly Sales for 6/22 - 8/22= $140,980 | Long Term Tenancy of Almost 40 Years

Executive Summary

The AP Group of Marcus & Millichap is pleased to present the opportunity to acquire leasehold interest in the Popeyes fast food restaurant located on a hard corner lot in Augusta, Georgia. The operator is RRG, Inc., a 16-unit operator in Augusta and Charleston, SC, and this is the highest performing Popeyes in the Augusta MSA. The land is leased from Augusta's General Aviation Commission with ?ve, 5-year options remaining to renew the lease. Popeyes has just over 9 years remaining on their NNN lease and pays all expenses including the ground lease rent.
Augusta, Georgia, is the home of Augusta National Golf Club, where the Masters Tournament is played each year. The Augusta-Richmond County metro consists of seven counties: Burke, Columbia, Lincoln, McDuf?e and Richmond counties in Georgia, and Aiken and Edge?eld counties in South Carolina. There are roughly 617,000 residents in the market and the region is projected to add 32,000 people and 14,200 households over the next ?ve years. The consolidated city-county of Augusta-Richmond contains approximately 203,000 citizens.

PROPERTY FACTS

Sale Type
Investment NNN
Sale Conditions
1031 Exchange
Property Type
Retail
Property Subtype
Fast Food
Building Size
4,000 SF
Building Class
C
Year Built
1984
Price
$1,714,286
Price Per SF
$429
Cap Rate
7%
NOI
$120,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.84 AC
Zoning
C1 - Central Business District
Parking
28 Spaces (8.29 Spaces per 1,000 SF Leased)
Frontage
339 FT on Highland Ave

Amenities

  • Corner Lot
  • Pylon Sign
  • Restaurant
  • Signage
  • Drive Thru
  • Wheelchair Accessible
  • Smoke Detector

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 0434014000
  • 0434014001
Land Assessment
$96,180
Improvements Assessment
$458,568
Total Assessment
$554,748
  • Listing ID: 27191516

  • Date on Market: 11/27/2022

  • Last Updated:

  • Address: 2802 Wrightsboro Rd, Augusta, GA 30909

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