Popeyes NNN — Warsaw, IN

Updated July 18, 2026

$2,601,626 · 6.15% CAP · 19.9 YRS

2022-built Popeyes on US-30 in Warsaw carrying a new 20-year absolute-net lease with 10% bumps every five years. The lease is franchisee-guaranteed — underwrite the operator.

Lease Abstract

Price

$2,601,626

Cap rate

6.15% CAP

NOI

$160,000

Term remaining

19.9 YRS

Lease type

Absolute NNN

Increases

10% every 5 years

Guarantee

Franchisee

Building

1,958 SF

Lot

0.67 AC

Year built

2022

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

1,958 SF building, built 2022, 0.67 acres of land. $1,329/SF asking, $81.72/SF NOI. Rent increases: 10% every 5 years. Franchisee guarantee. Primary term ends around 2046 (19.9 yrs left at listing, Jul 2026).

Location

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