Andy J. Heck314.797.7550

andy@iebrealestate.com

In association with:________________

A licensed Tennessee Real Estate Broker

Popeye’s Louisiana Kitchen724 Memorial Blvd | Murfreesboro, TN | 37129

314.833.4388 iebrealestate.comSaint Louis, Missouri

IEB Real Estate is pleased to present for sale this fee simple, build-to-suit Popeyes Louisiana Kitchen

located in Murfreesboro, TN – Nashville/Murfreesboro MSA

Asking Price:

NOI:

Cap Rate:

$1,293,913

$74,400

5.75%

Lot Size:

Building Size:

Year Built:

.60 Acres

2,600 SF

2010

Property Highlights:

• 5.1% Rent to Sales Ratio

• Low Rent compared to market ($28.61 psf)

• Sales exceed the average Popeyes location DURING massive road and bridge construction which greatly

hindered traffic. Sales are expected to increase with the widening of the road and completion of the bridge

construction.

Location:

• The site is an outparcel to popular Memorial Village Shopping Center and is in the heart of the retail corridor

in Murfreesboro, TN just 30 miles south of downtown Nashville, TN.

• The Shopping Center is 100% occupied and went through a total renovation in 2006.

• About 1,000 feet south of the site a bridge was constructed at the intersection of Broad St and Memorial

Blvd which has greatly increased the site traffic.

Investment Overview

Tenant Overview: Popeye’s Louisiana Kitchen

Guarantor: AR Group of Restaurants, Inc -70+ operations

Start of Tenancy: 2010

Lease Term: 20 Years

Term Commencement: November 22nd, 2010

Term Expiration: November 30th, 2030

Term Years Remaining: 12+ Years

Lease Type: NNN

Landlord Responsibilities: None

Term Base Annual Rent: $74,400

Rent Escalations: In Options

Remaining Options: 1, 10-year option

Option Exercise Notice: 90 Days

Option Base Rent: $108,000

Popeyes is an American multi-national chain of fried chicken fast food restaurants founded in 1972 in New Orleans, Louisiana. Since 2008, its full brand name is Popeyes Louisiana Kitchen, Inc. and it was formerly named Popeyes Chicken & Biscuits and Popeyes Famous Fried Chicken & Biscuits. It is currently a subsidiary of Restaurant Brands International.

According to a company press release dated June 29, 2007, Popeyes is the second-largest "quick-service chicken restaurant group, measured by number of units", after KFC. More than 2,600 Popeyes restaurants are in more than 40 states and the District of Columbia, Puerto Rico, and 30 countries worldwide. About 30 locations are company-owned and the rest franchised.

Popeyes serves chicken dishes in mild and spicy flavors and offers sides such as red beans and rice, Cajun fries, mashed potatoes with Cajun-style gravy, Cajun rice, macaroni & cheese, and coleslaw. In addition to fried chicken, other entree items include a chicken-and-sausage jambalaya and po' boy sandwiches.

Tenant Overview: Popeye’s Louisiana Kitchen

Aerial View

Jackson Heights Center

New Bridge Development over Broad Street eliminating a 4-way stop and allowing traffic to flow

much better continuing to increase traffic flow to the site

Memorial Village Shopping Center

Parcel View

New Bridge over Broad Street

Area Overview – Murfreesboro, TN

Area Overview - Demographics

Area Overview – Middle Tennessee State

Map View

2.5 miles to site

Ground Level View