Popeyes | New 20-Yr Abs NNN | 6.35% CAP | 10% Bumps/5… — Sale in Warsaw, IN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Warsaw, IN 46580

Photos

Popeyes | New 20-Yr Abs NNN | 6.35% CAP | 10% Bumps/5… — Sale in Warsaw, IN, photo 1 of 3
Popeyes | New 20-Yr Abs NNN | 6.35% CAP | 10% Bumps/5… — Sale in Warsaw, IN, photo 2 of 3
Popeyes | New 20-Yr Abs NNN | 6.35% CAP | 10% Bumps/5… — Sale in Warsaw, IN, photo 3 of 3

Investment Figures

Cap rate
6.35%

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 drive-thru located at 3501 Lake City Highway in Warsaw, Indiana, the commercial hub of Kosciusko County and the Orthopedic Capital of the World. The ±1,958-square-foot restaurant, built in 2022, sits on ±0.67 acres and is secured by a brand-new 20-year absolute NNN lease commencing June 2026, with zero landlord responsibilities and four (4) five-year renewal options. Annual base rent of $160,000 commences August 2026 at a 6.35% cap rate, with scheduled 10% rent increases every five years delivering consistent organic income growth and long-term inflation protection. The property is operated by an award-winning, experienced Popeyes franchisee with an extensive portfolio across the Greater Chicago Area, Indiana, Michigan, and Wisconsin, recognized as 2024 Popeyes Developer of the Year and 2022 Popeyes Franchisee of the Year, with a personal guaranty in place (inquire with agent for details). The property is positioned along Lake City Highway (US-30) at its intersection with E Old Rd 30 (±5,690 VPD), Warsaw's primary east-west commercial corridor carrying ±25,422 VPD, with adjacent neighbors including Rural King, Dollar General, Wings Etc., and Paragon Medical. The 5-mile trade area supports 57,060 residents with an average household income of $98,611, and the 3-mile population of 21,488 benefits from a strong daytime employment base anchored by Zimmer Biomet, DePuy Synthes Johnson & Johnson MedTech, Autocam Medical, and Grace College (2,485 enrollment). Warsaw's orthopedic industry supports 13,000 local jobs and approximately one-third of global orthopedic manufacturing, underpinning a stable, growing regional economy with long-term net-lease demand. Investment Highlights: • Brand New 20-Year Absolute NNN Lease Commencing June 2026 | Zero Landlord Responsibilities • Four (4) Five-Year Renewal Options Providing Up to 40 Years of Total Term • Scheduled 10% Rent Increases Every 5

Market Context

This food service in Warsaw, IN is listed for sale. It is offered at an approximate 6.3% capitalization rate, a key benchmark for income-producing food service assets. Compare it against other food service listings for sale in Warsaw, IN — view the full market.

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