Popeyes Drive-Thru
Popeyes Drive-Thru in Rialto, California, offered at $3,495,000 at a 5.15% cap ($180,000 NOI). The single-tenant asset is secured by a 15-year absolute NNN lease with approximately 12 years remaining, 7.5% rent increases every five years, and zero landlord responsibilities. The tenant, SG Food Express LLC, is an experienced Popeyes franchisee operating approximately 30 locations across Southern California with more than 25 years in the business.
Built in 2005, the 2,224 SF building sits on 0.8 acres with 36 parking spaces along West Baseline Road. According to Placer AI data, this location ranks in the top 84% of Popeyes restaurants in its market and top 61% nationwide, reflecting strong customer traffic and consistent sales. The property benefits from its position adjacent to a top-performing Farmer Boys restaurant, creating a quick-service dining cluster. Rialto's pro-development environment supports the investment: nearby residential expansion includes Lennar's Renaissance master-planned community, and the site sits next to Amazon's 850,000+ square-foot fulfillment center, which employs over 1,000 workers and generates substantial daily traffic. Positioned in the Inland Empire with excellent access to Interstate 10 and Interstate 210, the property captures demand from a growing residential population and dense logistics employment base. Popeyes is backed by Restaurant Brands International (NYSE: QSR), a globally recognized operator with more than 3,700 locations worldwide.
- 15-year absolute NNN lease with 12 years remaining; zero landlord responsibilities
- 7.5% rent increases every five years; predictable passive income
- Top-performing location: 84th percentile in market, 61st percentile nationally
- Tenant: experienced 30-location Popeyes franchisee with 25+ years in Southern California
- Adjacent to Amazon 850,000+ SF fulfillment center (1,000+ employees) and top Farmer Boys location
- Positioned in Inland Empire logistics hub with I-10 and I-210 access
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This offering features a 12+ year Absolute NNN leased Popeyes with approximately 12 years remaining on a recently executed 15-year lease, reflecting the tenant's long-term commitment to the property. The lease provides true passive ownership, as the tenant is responsible for all operating expenses, including property taxes, insurance, maintenance, roof, structure, HVAC, parking, and landscaping, leaving the landlord with no management responsibilities. Investors also benefit from scheduled 7.5% rent increases every five years, providing predictable income growth and inflation protection. The property is leased to SG Food Express LLC, a seasoned Popeyes franchise operator with approximately 30 locations and more than 25 years of experience in Southern California, demonstrating strong operational expertise and continued expansion. According to Placer AI, the restaurant ranks among the top-performing Popeyes locations, placing in the top 84% within its surrounding market and the top 61% nationwide, highlighting strong customer traffic and consistent sales performance. Popeyes, a globally recognized quick-service restaurant brand with more than 3,700 locations worldwide, is owned by Restaurant Brands International (NYSE: QSR), further reinforcing the investment's stability. The property also benefits from its location adjacent to a top-performing Farmer Boys restaurant, creating a strong quick-service dining cluster that drives shared customer traffic. Situated in Rialto, a rapidly growing, pro-development city, the site is supported by nearby residential expansion, including Lennar's Renaissance master-planned community, as well as ongoing industrial and commercial development. Additionally, the property is located next to Amazon's 850,000+ square-foot fulfillment center, which employs over 1,000 workers and generates substantial daily traffic from employees, drivers, and support staff. Positioned within Southern California's Inland Empire, one of the nation's fastest-growing logistics and population hubs, the property enjoys excellent access to Interstate 10 and Interstate 210, a growing residential population, and a dense concentration of logistics and distribution employment, all of which contribute to strong, long-term demand for quick-service restaurants.