Popeyes | New 20-Yr NNN | 5 Yrs | Milwaukee Ave w/… — Sale in Lubbock, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Lubbock, TX 79424

Photos

Popeyes | New 20-Yr NNN | 5 Yrs | Milwaukee Ave w/… — Sale in Lubbock, TX, photo 1 of 3
Popeyes | New 20-Yr NNN | 5 Yrs | Milwaukee Ave w/… — Sale in Lubbock, TX, photo 2 of 3
Popeyes | New 20-Yr NNN | 5 Yrs | Milwaukee Ave w/… — Sale in Lubbock, TX, photo 3 of 3

Investment Figures

Cap rate
5.50%

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 restaurant at 7714 Milwaukee Avenue in Lubbock, Texas, within the Lubbock MSA. The ±2,546-square-foot restaurant, built in 2015, sits on ±0.80 acres and is secured by a new 20-year NNN lease commencing at close of escrow, with zero landlord responsibilities and four (4) five-year renewal options. Annual base rent of $132,000 reflects a 5.50% cap rate, with scheduled 10% rent increases every five years for built-in income growth. Tenant Z & H Foods, Inc., an established ±150-unit entity, will fund a complete remodel to the latest Popeyes brand standards within 36 months of close of escrow, at its own expense, delivering a newly renovated asset at zero cost to the landlord. The restaurant is operated by The Dhanani Group, the nation's 3rd-largest restaurant franchisee (Franchise Times, 2025) and the largest Popeyes franchisee, with 350+ Popeyes and 475+ Burger King locations. The property fronts Milwaukee Avenue (±28,049 VPD) near 82nd Street (±20,251 VPD) in Southwest Lubbock's primary commercial corridor, with access to the Marsha Sharp Freeway and adjacent to The Hub Shopping Center, Walmart Supercenter, and Canyon West Shopping Center. The 5-mile trade area holds 161,370 residents with $112,576 average household income, supported by Texas Tech University (45,000+ enrollment) and Covenant Children's Hospital (248 licensed beds). The asset sits within the Lubbock MSA, home to 369,326 residents and named one of Elevate's No. 20 Best Cities for Working Families (2025). Popeyes operates 3,700+ locations worldwide as a subsidiary of Restaurant Brands International (S&P: BB), pairing brand strength with a passive, long-term net-lease investment in a growing West Texas market. Investment Highlights: • New 20-Year NNN Lease with Zero Landlord Responsibilities, Commencing at Close of Escrow • Four (4) Five-Year Renewal Options for Long-Term Occupancy Potential • Scheduled 10% Rent In

Market Context

This food service in Lubbock, TX is listed for sale. It is offered at an approximate 5.5% capitalization rate, a key benchmark for income-producing food service assets. Compare it against other food service listings for sale in Lubbock, TX — view the full market.

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