JUST LISTED: Popeyes Prescott, AZ | 20-Year Absolute NNN Lease | Brand-New Prototype

1231 W Iron Springs Rd Prescott, AZ 86305

1231 W Iron Springs Rd, Prescott, AZ, 86305
1231 W Iron Springs Rd, Prescott, AZ, 86305
Property Type:
Single Tenant Retail (NNN)
Cap Rate:
Last Verified:
May 12, 2022

Single-tenant Popeyes® sale-leaseback investment opportunity, offering a rare, brand-new, 20-year absolute triple-net (NNN) lease with 7.5% rental increases every five years and four (4), five (5) year option periods. The tenant, the Dhanani Group, has been in business since 1976 and is a large quick-service restaurant (QSR) franchise development group that operates approximately 400 Popeyes® Nationally. Founded in 1972, Popeyes® has more than 40 years of history and culinary tradition. Popeyes® distinguishes itself with a unique New Orleans style menu featuring fried chicken, chicken sandwiches, chicken tenders, fried shrimp, drinks, deserts, family and kids meals, and other regional items. They have over 3,500 restaurants in the U.S. and around the world. Their parent company Restaurant Brands International Inc. is one of the world’s largest quick-service restaurant companies with more than $35 billion in annual system-wide sales and over 29,000 restaurants in more than 100 countries (Source: rbi.com). Nearby national retailers include Walmart, Safeway, Fry’s (Kroger), Goodwill, Chase Bank, Wells Fargo Bank, Bank of America, Burger King, Denny’s, FedEx, UPS, Subway, Baskin Robbins, and many more. The Property is located just northwest of Dignity Health’s Yavapai Regional Medical Center - West Campus, a state-of-the-art healthcare system with two acute care hospitals, a network of primary and specialty care clinics, outpatient health and wellness centers, cardiac diagnostic centers, and outpatient medical imaging centers. Located approximately five miles away from the Property is Embry-Riddle Aeronautical University. This accredited university is recognized as the world leader in aviation and aerospace, and has established a reputation as “The Harvard of the Skies” (Source: Prescott Economic Development Magazine, 2018). The largest employers in the area include: Yavapai Community Hospital Association (±1,510 employees), Sturm Ruger Company Inc (±800 employees), Veterans Health Administration (±730 employees), Yavapai County Community College District (±650 employees), Prescott Unified School District 1 (±510 employees), and Embry Riddle Aeronautical University Inc (±500 employees) (Source: geo.azmag.gov).

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.