Popeye's - Coon Rapids

Jones Lang LaSalle Americas, Inc. ("JLL"), is pleased to exclusively offer for sale the fee-simple interest in Popeyes Louisiana Kitchen located at 3220 124th Ave NW, Coon Rapids, MN 55433. This 4,000 SF quick-service restaurant operates under a NNN ground lease extending through November 2031, with two additional five-year renewal options that could extend the tenancy through 2041.

This investment opportunity offers investors a stable income stream backed by Restaurant Brands International Inc. (NYSE: QSR), an institutional-quality operator carrying a BB+ credit rating from S&P. RBI is one of the world's largest quick-service restaurant companies, generating nearly $45 billion in system-wide sales across more than 32,000 locations in over 120 countries. The lease features built-in rent escalations of 10% at each renewal option, providing predictable income growth over the investment hold period. The tenant has operated continuously as a Popeyes at this location for over 14 years, having already exercised its first two renewal options, demonstrating exceptional location-level performance and validating the long-term viability of this established trade area.

Coon Rapids represents an exceptional market for quick-service restaurants, with this Popeyes occupying a strategic corner position at Northdale Boulevard and 124th Avenue NW within Riverdale Commons Shopping Center, shadow-anchored by Target and Home Depot. The property benefits from significant regional traffic exposure from Highway 10, located just half a mile away, carrying 66,281 vehicles per day. The immediate trade area features a well-tenanted retail base generating consistent, repeat consumer traffic throughout the corridor, while major infrastructure investments including MN DOT's $40.5 million Highway 10 widening project and the recently approved $10.1 million Northdale Boulevard reconstruction represent meaningful public reinvestment in the area's transportation infrastructure.

As one of the larger suburbs in the northern Twin Cities metro with a population of approximately 65,000, Coon Rapids sits just 20 minutes from the Minneapolis CBD, which maintains one of the nation's highest concentrations of Fortune 500 company headquarters. The surrounding five-mile trade area demonstrates compelling consumer characteristics, with average household income of $132,117 exceeding the national average by approximately 8%, while nearly 175,000 residents provide substantial purchasing power and a deep, stable customer base to support ongoing performance.

Please refer to the OM for more information on this investment opportunity.