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Popeyes

Westlake, Louisiana

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Marcus & Millichap is pleased to present the exclusive listing for 1601 Sampson Street in Westlake, LA. This Popeyes is subject to a brand new 25-year triple-net (NNN) lease, which commenced on December 31st, 2020. The base annual rent is$131,861 and will be subject to 1.75% annual rental escalations starting in January 2027, continuing throughout the base term and in each of the two, five-year tenant renewal option periods. The lease is guaranteed by SRG PLK OpCo, LLC, d/b/a High Noon Restaurant Group, which operates 63 locations throughout Louisiana. The property is roughly 1,800 rentable square feet and is situated on an approximately .50 acre parcel.

✓ Approximately 24-Years Remaining on an Original 25-Year Absolute Triple Net (NNN) Lease With Zero Landlord Responsibilities
✓ Attractive Rental Increases of 1.75% Annually Starting in January 2027
✓ Two (2) Tenant Renewal Period of Five (5) Years
✓ Strong Brand Recognition | Experienced Operator | 63-Units Within Louisiana

Key Details

Price:
$2,464,692
Cap Rate:
5.35%
Annual Rent:
$131,861
Address:
1601 Sampson Street, Westlake, Louisiana 70669
Property Type:
Net-Leased Restaurant
Lease Type:
Triple Net (NNN)

Tenant:
Popeyes

Broker of record

Chris Shaheen

License: BROK.0095692662-ACT


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