Popeyes NNN — Cleveland, OH

Updated July 18, 2026

$2,533,333 · 6.00% CAP · 20 YRS

Twenty-year franchisee sale-leaseback on a Popeyes along Cleveland's Lorain Avenue, with a remodel scheduled. The 1987 building prices at a 6% cap on the fresh term.

Lease Abstract

Price

$2,533,333

Cap rate

6.00% CAP

NOI

$152,000

Term remaining

20 YRS

Lease type

NNN

Options

4 x 5 Years

Guarantee

Franchisee

Building

2,940 SF

Lot

0.26 AC

Year built

1987

Listing information is deemed reliable but not guaranteed — pricing, cap rates, and lease terms are subject to change, prior sale, or withdrawal without notice.

Property Details

2,940 SF building, built 1987, 0.26 acres of land. $862/SF asking, $51.70/SF NOI. Renewal options: 4 x 5 Years. Franchisee guarantee. Primary term ends around 2046 (20 yrs left at listing, Jul 2026).

Location

Cleveland, Ohio. Full address and offering memorandum released on request — see our Popeyes tenant guide and the Ohio market page for the underwriting context.