Single Tenant Popeyes in Amarillo, TX
Amarillo, TX
Property Summary
Offering Summary
- Offering Price $2,433,000
- NOI $133,825
- Cap Rate 5.5%
- Building Area ±2,431
- Land Area ±0.7
- Tenant Popeyes
Avison Young is pleased to present the opportunity to acquire the single-tenant Popeyes on fee simple land located at 2201 Paramount Boulevard in Amarillo, Texas. The subject property is located in a popular retail corridor and outparcel to a newly renovated Gold’s Gym. Popeye’s, a National Credit Tenant, has 18 years remaining on its Absolute-Net Lease, with 10% increases every five years. In addition, the operator, the Dhanani Group, operates 1,000+ units nationwide including 375 Popeyes. This is an excellent opportunity to acquire a stable investment occupied by a reputable national tenant and operator!
Highlights
±2,431 SF building on ±0.7 AC of fee simple land
Occupied by national tenant, Popeyes, with 18 years remaining on lease
Excellent guaranty by Dhanani Group - the largest Popeyes Franchisee in system, and 2nd largest restaurant operator in America (2022)
Great corner lot positioning with drive-thru and ample parking
Additional income from double-sided billboard
Strategically located in a dense retail corridor of Amarillo, with close proximity to synergistic national retailers including Gold’s Gym, Home Depot, Red Lobster, Church’s, Smoothie King, Chick-fil-A, and much more!
