Popeye’s | Triple Net Property (NNN) of the week

Popeye’s located the Northern California Bay Area is this week’s candidate for Triple Net property of the week.

john skinner triple net nnn lease property specialist in watsonville californiaThis is a newly built store.
Operated by a franchisee with 30 other franchise stores.
On a highway 99 off ramp across from several other fast food restaurants
In Merced, a growing Central Valley City
In an industry that is so far immune from cannibalization by Amazon.
It has a new 20 year lease with 2 – 5 year options
Lease payments increase 10% every 5 years.

The 4.18% cap rate reflects the relatively low perceived risk in this investment.

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