POPEYES | $3,158,738 | 5.25% CAP
The Deltondo Group and Marcus & Millichap are pleased to present for sale Popeyes a single-tenant property located at 1350 North Hillside Street, Wichita, Kansas 67214.
The subject property is comprised of 2,328 square feet, built-in 2015. The building sits on a 0.43 acre lot. Popeyes will sign a new 20 year lease at the close of escrow with 7.5% increases every 5 years and four, 5 year options to extend. Subject Property is 1/2 mile from Wichita State University (13,000+ Students) and 1/2 mile from Wesley Medical Center the largest Hospital in Wichita.
JHAH Property Holdings has been in the restaurant industry for over 45 years and currently operates brands in five different states: Louisiana, Mississippi, Kansas, Missouri, and Texas. JHAH Property Holdings currently operates 24 IHOP Units and are developing an additional 4 IHOP units which are scheduled to be open by the end of 2022 / beginning of 2023. Their IHOP brand should hit 50 units by 2027. In addition, JHAH Property Holdings currently operates 4 Popeyes Units and will have 9 units following this acquisition with plans to grow to 25 units by 2027.