Popeyes for Sale in Covington, TN
Covington, TN
Key Investment Metrics
Price
$1,401,000
Cap Rate
5.9%
Net Operating Income
$82,680
Building Size
3165 SF
Land Area
0.92 Acres
Remaining Term
12.4 years
Lease Expiration
12/17/2038
Lease Term
20 years
Lease Commencement
12/18/2018
Lease Type
Absolute NNN
Year Built
1986
Tenancy
Single
Rent Increases
10% rental increases every 5 years
Property overview
Popeyes in Covington
Review the reported property and lease details, then request the supporting documents for your acquisition review.
- Building area
- 3,165 SF
- Land area
- 0.92 acres
- Year built
- 1986
- Lease type
- Absolute NNN
- Lease expiration
- 12/17/2038
Confirm current availability, pricing and lease terms through the inquiry form before relying on this listing.
Before you make an offer
Four things to verify
- 1
Lease and guaranty
Request the executed lease and amendments. Identify the legal tenant, guarantor and landlord obligations.
- 2
Income and expenses
Obtain the rent roll and operating statement supporting the advertised NOI and cap rate.
- 3
Property condition
Review survey, title, condition and environmental information relevant to this property.
- 4
Exchange requirements
For a 1031 exchange, confirm eligibility and deadlines with your qualified intermediary and tax adviser.