Popeyes | New 20-Yr NNN Sale-Leaseback | 6.00% CAP |… — Sale in Akron, OH

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Akron, OH 44310

Photos

Popeyes | New 20-Yr NNN Sale-Leaseback | 6.00% CAP |… — Sale in Akron, OH, photo 1 of 3
Popeyes | New 20-Yr NNN Sale-Leaseback | 6.00% CAP |… — Sale in Akron, OH, photo 2 of 3
Popeyes | New 20-Yr NNN Sale-Leaseback | 6.00% CAP |… — Sale in Akron, OH, photo 3 of 3

Investment Figures

Cap rate
6.00%

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 drive-thru located at 620 North Howard Street in Akron, Ohio. The ±2,520-square-foot restaurant is secured by a new 20-year sale-leaseback NNN lease commencing at close of escrow, with zero landlord responsibilities and four (4) five-year renewal options. The property generates $90,000 in annual base rent at a 6.00% cap rate, with scheduled 10% rent increases every five years providing consistent income growth. The lease is operated and guaranteed by an established 13-unit Popeyes franchisee, and the tenant is slated to remodel the location at their own expense in 2028. The property sits along North Howard Street (±7,000 VPD) at its signalized intersection with Tallmadge Avenue (±10,736 VPD), with access to State Route 8 (±100,071 VPD), Interstate 77, and Interstate 76. Nearby retailers include Home Depot, Best Buy, Sam's Club, and Lowe's at The Plaza at Chapel Hill Shopping Center. The 3-mile trade area holds 104,813 residents with an average household income of $69,312, supported by The University of Akron (15,000+ enrollment), Cleveland Clinic Akron General (500+ beds), and Summa Health (600+ beds). The asset sits within the Akron MSA (706,559 residents), pairing brand strength from Popeyes' 3,700+ global locations under Restaurant Brands International (S&P: BB) with passive, long-term net-lease income. Investment Highlights: • New 20-Year Sale-Leaseback NNN Lease Commencing at Close of Escrow | Zero Landlord Responsibilities • Scheduled 10% Rent Increases Every 5 Years | Four (4) Five-Year Renewal Options • Operated and Guaranteed by an Established 13-Unit Popeyes Franchisee • Tenant-Funded Remodel Slated for 2028 at No Cost to Landlord • Signalized Intersection of North Howard Street (±7,000 VPD) and Tallmadge Avenue (±10,736 VPD) • Convenient Access to State Route 8 (±100,071 VPD), Interstate 77, and Interstate 76 • Proximity to The University of Akron (15,000+ Enrollme

Market Context

This food service in Akron, OH is listed for sale. It is offered at an approximate 6.0% capitalization rate, a key benchmark for income-producing food service assets. Compare it against other food service listings for sale in Akron, OH — view the full market.

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