6329 DR M L K JR ST N St. Petersburg FL 33702

Marcus & Millichap is pleased to present for sale this single-tenant, absolute triple-net lease Popeyes Restaurant investment opportunity located in St. Petersburg Florida, within the Tampa-St. Petersburg MSA. The property consists of .58-acre parcel improved with an approximately 2,198-square foot building. The newly proposed restaurant will have a new 20-year NNN lease in place with Sailormen, Inc, one of the largest domestic franchisees of Popeyes Louisiana Kitchen restaurants, currently operating more than 140 Popeyes in Florida and Georgia, with approximately eight to ten new restaurants being built every year. Annual base rent is set at $135,000 with 10 percent rental increases every five years in the base term, as well as the four five-year renewal options.

The restaurant is located near the signalized hard-corner of 62nd Avenue North and Dr M.K.K. Jr St., both major retail and residential arteries with combined traffic counts of over 33,700 vehicles per day. The half-acre lot is adjacent to a brand-new Dunkin’ and across the street from a busy, Winn-Dixie anchored shopping center. Additional nearby retailers, include McDonald’s, Checker’s, KFC, Subway, Baskin Robbins, Target, TJ Maxx, Starbucks, Big Lots, Bealls Outlet, and Pet Supplies Plus. It is also less than a mile from the educational complex of Northeast High School, Meadowlawn Middle and Sexton Elementary with combined enrollments of nearly 3,300 students.