Investment Overview

Marcus & Millichap is pleased to present for sale this Pylos Greek Diner is located at 3290 SW Martin Downs Boulevard in Palm City, Florida consisting of a 5,529 square feet restaurant on a large 1.65 acre parcel just off the signalized intersection of SW Martins Hwy and SW Martin Downs Hwy with over 40,000 vehicles per day with over 70,000 full time residents with an affluent household income exceeding $131,000, annual. Palm city is located in Martin County, Florida with population 25,883 and part of the Port St. Lucie Metropolitan Statistical Area population 487,657. Numerous brand new luxury home developments surround this Pylos Diner property including Canopy Creek with 250 Sold out lots and only 10 more available, Copperleaf by Pulte with 300 lots almost Sold Out, Veranda Gardens by DiVosta Homes with 350 homesites and K. Hovnanian The Preserve with 60 Sold Out lots. Located only a few minutes from this property is Indian River State College with over 15,236 enrolled students. Numerous apartment complexes also surround this Pylos Diner including The Estates at Stuart with 123 rented units, Stuart Manor with 40 rented units and Royal Palm Apartments with 20 rented units. Also nearby is Hidden Oaks Middle School with 915 enrolled students and Palm City Park, a popular recreational spot. This prime property for Pylos Restaurant and Bar has a 15 year lease with three, five year options to renew and 10 percent increases in rent every five years including the option periods. It is an Absolute Net Lease and is Guaranteed by a Four Unit Operating Company.