POPEYES | $3,116,643 | 5.25% CAP
The Deltondo Group and Marcus & Millichap are pleased to present for sale Popeyes a single-tenant property located at 3131 North Rock Road, Wichita, Kansas 67226.
The subject property is comprised of 2,005 square feet, built-in 1989 and remodeled in 2012. The building sits on a 22,215 square foot lot situated on North Rock Road which oversees 25,087 vehicles per day. A new 20 year lease will be signed at the close of escrow, the lease will include 7.5% increases every 5 years and four, 5 year options to extend. This store has operated for 33 years and currently performs above average unit volume for a Popeyes restaurant.
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.