Popeyes | 3% Bumps/3 Yrs | Growing Research Triangle… — Sale in Sanford, NC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Sanford, NC 27332

Photos

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Investment Figures

Cap rate
6.09%

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 the opportunity to acquire a freestanding Popeyes Louisiana Kitchen located at 2515 South Horner Boulevard in Sanford, North Carolina. The ±2,178-square-foot drive-thru restaurant, built in 2021, sits on ±0.53 acres and is secured by a NNN lease with three (3) five-year renewal options. Annual base rent of $145,324 reflects a 6.09% cap rate, with scheduled 3% rental increases every three years providing consistent income growth. The property is operated by a multi-unit Popeyes franchisee. The property fronts South Horner Boulevard (NC-87, ±22,731 VPD) with convenient access to US Highway 421 (±28,767 VPD) and US Highway 1, placing it along Sanford's primary commercial spine. Adjacent retailers include Golden Corral, Waffle House, Ollie's, Burger King, Walgreens, and Planet Fitness. Nearby demand generators include Central Carolina Community College (~5,900 students), Lee County High School (1,469 students), and Central Carolina Hospital. The 3-mile trade area holds 22,320 residents with a $71,464 average household income, expanding to 44,936 residents and $87,053 AHI at 5 miles. The Sanford MSA is home to major employers including Caterpillar, Pfizer, Moen, Coty, and Tyson, and the corridor is seeing accelerating new development with Del Taco, Baskin-Robbins, and Firestone all permitted on South Horner Boulevard in 2026. Investment Highlights: • 3% Rental Increases Every 3 Years • Three (3) Five-Year Renewal Options (Up to 15 Additional Years) • Tenant Responsible for Roof, Parking Lot, and HVAC Maintenance • ?South Horner Blvd at ±22,731 VPD | US-421 at ±28,767 VPD • ?Central Carolina Community College (~5,900 Students) | Lee County High School (1,469 Students) • ?Caterpillar, Pfizer, Moen, Coty, and Tyson Among Area's Largest Employers

Market Context

This food service in Sanford, NC is listed for sale. It is offered at an approximate 6.1% capitalization rate, a key benchmark for income-producing food service assets. Compare it against other food service listings for sale in Sanford, NC — view the full market.

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