August 4, 2023 – Zach Smith of Horvath & Tremblay has successfully completed the sale of Popeyes in Athens, Alabama. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,087,000.
Popeyes is located at 550 US Highway 72 in Athens, Alabama. Upon the close of escrow Popeyes signed a new 20-year Absolute NNN lease with four (4), 5-year renewal options. The Property was constructed in 2018 and consists of a 3,222 square foot building on a 0.72-acre parcel. The lease calls for attractive 12.5% rent increases every 5-years throughout the primary lease term and 15% increases at the start of each renewal option providing a steady increase in income and an attractive hedge against inflation. The property is strategically located along US Highway 72, the area’s primary commercial and commuter corridor. The property benefits from outstanding visibility and frontage along US Route 72 and benefits from traffic counts in excess of 34,200 vehicles per day. The property sits in the heart of a dense retail corridor and is surrounded by national retailers driving traffic to the area. Additionally, the Property is 1-mile from US Highway 31 and 2-miles from Interstate 65.
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.