Popeyes | 20-Yr NNN SLB | ±190-Unit Tenant | Zero… — Sale in Springfield, MO

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Springfield, MO 65803

Photos

Popeyes | 20-Yr NNN SLB | ±190-Unit Tenant | Zero… — Sale in Springfield, MO, photo 1 of 3
Popeyes | 20-Yr NNN SLB | ±190-Unit Tenant | Zero… — Sale in Springfield, MO, photo 2 of 3
Popeyes | 20-Yr NNN SLB | ±190-Unit Tenant | Zero… — Sale in Springfield, MO, photo 3 of 3

Investment Figures

Cap rate
6.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present a freestanding Popeyes drive-thru located at 1231 W. Kearney Street in Springfield, Missouri. The ±1,850-square-foot restaurant, built in 2015, sits on ±0.56 acres and will be secured by a new 20-year NNN sale-leaseback commencing at close of escrow, with zero landlord responsibilities and four (4) five-year renewal options. Annual base rent of $100,000 reflects a 6.00% cap rate, with scheduled 10% rent increases every five years. The tenant is HZ Ops Holdings, Inc., a ±190-unit entity, and the store is operated by The Dhanani Group, the largest Popeyes franchisee in the U.S. with 350+ Popeyes locations. The property fronts West Kearney Street (±25,333 VPD) near Kansas Expressway (±27,651 VPD) and Interstate 44 (±58,195 VPD), within the city's newly amended Kearney Street Corridor Redevelopment Area. The 5-mile trade area holds 122,363 residents, and the 10-mile average household income is $90,381. Nearby demand drivers include Missouri State University (26,917 students), Evangel University (2,741 students), and the Ozark Empire Fairgrounds (600,000+ annual visitors). Springfield is Southwest Missouri's economic hub, with an MSA population of more than 500,000, and the asset is also available as part of a six-property Popeyes portfolio. Investment Highlights: • New 20-Yr NNN Sale-Leaseback Commencing at Close of Escrow • Zero Landlord Responsibilities | Four (4) 5-Year Renewal Options • Scheduled 10% Rent Increases Every 5 Years • Tenant: HZ Ops Holdings, Inc. (±190 Units) | Operated by The Dhanani Group • Fronts W Kearney St (±25,333 VPD) Near Kansas Expy and I-44 (±58,195 VPD) • 122,363 Residents Within 5 Miles | $90,381 AHI Within 10 Miles • Near Missouri State University (26,917 Students) and Evangel University (2,741 Students) • Springfield MSA Population of 500,000+ | Available Individually or as 6-Property Portfolio

Market Context

This food service in Springfield, MO is listed for sale. It is offered at an approximate 6.0% capitalization rate, a key benchmark for income-producing food service assets. Compare it against other food service listings for sale in Springfield, MO — view the full market.

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