June 30, 2023 – Matt Nadler of Horvath & Tremblay has successfully completed the sale of Popeyes in Cambridge, Minnesota. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,300,000.
The Popeyes is located at 2215 3rd Avenue in Cambridge, Minnesota. The stand-alone building was constructed in 2023 and consists of 2,536 square feet on 1.0-acre of land. Popeyes has 14+ years remaining on their Absolute NNN Ground Lease with three (3), 5-year renewal options. The lease calls for attractive 10% rent increases every 5-years throughout the primary lease term and at the start of each renewal option. The new construction Popeyes is located along 3rd Avenue NE and has outstanding visibility and frontage along Highway 95, the primary commercial and commuter corridor traversing Cambridge. Popeye’s is adjacent to a new Aldi, and shadow anchored by a Kohl’s and Fleet Farm. Additionally, the Property is just seconds from a Walmart Supercenter, a Target, and a Menards in addition to countless other national and local retailers driving traffic to the area. The Popeyes Absolute NNN Ground Lease offers investors long-term security with a significant capital investment by Popeyes and the operator, strong underlying real estate fundamentals, and zero management responsibilities.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.