The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
June 19, 2024
 Search RENTV
 The REview
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
SoCal Single-Tenant Property Occupied by Popeye’s Goes for Nearly $1,000/sf


A private investor paid $3.525 mil for a 2.6k sf retail property in the LA area city of Bell. The deal worked out to a price of $985 per square foot at a 4.75% cap rate.

The property, located at 5133 Florence Ave, boasts a strong tenant in Popeyes, operated by a franchisee with a notable presence across Southern California, managing 10 Popeye’s locations. This investment opportunity featured a long-term absolute NNN Lease with 20 years remaining and two 10-year options, providing stability and potential for long-term returns.

Constructed in 2022, the building offers modern facilities and minimal maintenance requirements. Under the lease agreement, the tenant assumes responsibility for all operating expenses, including taxes, insurance, maintenance, roof, and structure, relieving the landlord of any obligations. With rent increases scheduled every five years, the new owner could anticipate steady growth.

Popeyes' strong tenant profile, coupled with its rapid expansion as the fastest-growing fast-casual chicken restaurant in the nation, particularly in the L.A. market, further enhanced the property's attractiveness as an investment opportunity.

Joseph Gabbaian with NAI Capital Commercial represented the buyer, a private investor, in the transaction. The seller, an LLC, was repped by David Ghermezian with Newmark.

Return to the previous page

Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media