Thursday, January 11, 2007

Austin Texas Popeye's Chicken NNN investment

My CCIM buddy Kevin Chin of Sperry Van Ness pitched this interesting listing today at the Income Property Marketing Group meeting this morning at the Presidio in San Francisco: Popeye's Chicken, 11 year lease remaining, absolute NNN, $1,568,511 price, 6.5% cap rate now, 6.74% cap in year two, built in 1997, 1 acre parcel in the Austin suburb of Pflugerville. Who wouldn't trade their break even fourplex or rental house for this solid deal near Dell headquarters?

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