ACTUAL SITE ™ NEW ORLEANS, LA OFFERING MEMORANDUM POPEYES 3825 GENERAL DEGAULLE DR NEW ORLEANS, LA 70114 TABLE OF CONTENTS 03 EXECUTIVE OVERVIEW 04 FINANCIAL OVERVIEW 06 PROPERTY OVERVIEW 10 AREA OVERVIEW JEFF MILLER MBA KYLE MATTHEWS BEAU J. BOX Associate Chairman & CEO Broker Of Record DIRECT 424.220.7263 DIRECT 225.931.3200
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[email protected] LIC # 02013110 (CA) | 2 Executive Overview INVESTMENT HIGHLIGHTS DENSE DEMOGRAPHICS AND AN EXCELLENT RETAIL CORRIDOR » Less than 5-miles from downtown New Orleans » Over 268,000 people in a 5-mile radius » ± 56,000 ADT on General De Gaulle Dr » Retailers in the immediate area include: Walmart, Walgreens, T.J. Maxx, Applebee’s, Smoothie King, McDonald’s, Rite Aid, Burger King, KFC, Buffalo Wild Wings, Chase Bank, Winn-Dixie, O’Reilly Auto Parts, Wendy’s, and much more INVESTMENT GRADE PROPERTY AND A HEALTHY PERFORMING SITE » Recent 10-year extension with no consideration from owner demonstrating the tenant’s commitment to the site » Corporately backed lease with 3, 5-Year extensions » The Popeyes brand was recently purchased by Restaurants Brands International, which also holds Tim Horton’s and Burger King under it’s QSR umbrella 3 | FINANCIALExecutive Overview OVERVIEW | 4 ACTUAL SITE NEW ORLEANS, LA Investment Summary Annualized Operating Data » OFFERING PRICE $1,333,745 Monthly Rent Annual Rent Rent/SF Cap Rate 4/1/2023 - 3/31/2028 $6,724.00 $80,688 $40.83 6.05% » NOI $73,356 Option 1 $7,397.00 $88,764