Popeyes Highvisibility Location Primary West… — Sale in Cleveland, OH

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Cleveland, OH 44111

Investment Figures

Cap rate
5.65%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the opportunity to acquire a freestanding Popeyes Louisiana Kitchen drive-thru located along Lorain Avenue in West Cleveland, Ohio. This asset features a brand-new 20-year NNN sale-leaseback with zero landlord responsibilities, guaranteed by an experienced 13-unit Popeyes franchisee. The offering provides investors with long-term, passive income in a dense, high-traffic infill corridor within one of the Midwest’s most established and diversified metropolitan areas. Strategically positioned along Lorain Avenue—a major commercial artery connecting West Park, Lakewood, and Downtown Cleveland—the property benefits from strong daily traffic, excellent visibility, and convenient access to I-90 and I-71. The drive-thru format aligns with Popeyes’ high-volume operating model, capturing commuter, residential, and workforce demand from surrounding neighborhoods and employment centers. The site is surrounded by national retailers including Burlington, Ross, ALDI, McDonald’s, Taco Bell, and Rally’s, reinforcing the corridor’s role as a key West Side retail destination. The property is supported by a dense residential base across West Park, Kamm’s Corners, and Lakewood, along with proximity to Cleveland Hopkins International Airport, the Cleveland Clinic system, and major corporate employers. These anchors drive consistent daytime population and year-round sales performance. The new 20-year NNN lease includes scheduled 10% rent increases every five years and four five-year renewal options, providing built-in income growth and long-term occupancy stability. This Popeyes represents a compelling opportunity to acquire a high-performing, nationally recognized QSR asset in a mature, infill Cleveland location with strong demographic support, proven franchisee backing, and fully passive long-term cash flow. Investment Highlights: • Brand-New 20-Year NNN Sale-Leaseback • Experienced Multi-Unit Franchisee Guaranty • Prime West Cleveland Infill Lo

Market Context

This retail in Cleveland, OH is listed for sale. It is offered at an approximate 5.7% capitalization rate, a key benchmark for income-producing retail assets. It has been on the market for 99 days. Compare it against other retail listings for sale in Cleveland, OH — view the full market.

As of Q1 2026, the Cleveland retail market showed a 4.4% vacancy rate, average asking rents near $16.16/SF/yr, and cap rates around 8.7%.

Its 5.7% asking cap rate is below the Cleveland retail market average of about 8.7%, reflecting premium pricing relative to comparable assets. Tight vacancy keeps competition for quality space elevated.

Retail market FAQ

What is the typical cap rate for retail in Cleveland?
About 8.7% as of Q1 2026.
Is the Cleveland retail market tightening or softening?
Vacancy is around 4.4% (Q1 2026).

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