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Restaurant

Popeyes

4946 S 25th St, Fort Pierce, FL 34981

Listing Price: $3,302,000

Cap Rate
4.25%
Tenant Name
Popeyes Louisiana Kitchen
Years Remaining On Lease
13.5
Gross SF
2,265
Guarantor
Franchisee Guarantee
Rentable SF
2,265
Price/Gross SF
$1,457.84
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$61.96

Investment Overview

Marcus & Millichap is pleased to present for sale this single-tenant, absolute triple-net lease Popeyes Restaurant investment opportunity located in Fort Pierce, Florida, within the Port St. Lucie MSA. The property consists of .89-acre parcel improved with an approximately 2,265-square foot building. The newly constructed restaurant has 14 years remaining of the original 15-year lease in place with Sailormen, Inc, one of the largest domestic franchisees of Popeyes Louisiana Kitchen restaurants, currently operating more than 120 Popeyes in Florida and Georgia, with approximately eight to ten new restaurants being built every year. Annual base rent is set at $140,331 with 10 percent rental increases every five years in the base term, as well as the five five-year renewal options. The restaurant is located on the signalized hard-corner of 25th Street and Midway, both major arteries east of I-95 and the Florida Turnpike, linking all the Treasure Coast communities with combined traffic counts of over 37,000 vehicles per day. The near one-acre lot site sits on a developing intersection, directly across from a new Cumberland Farms gas station. Fort Pierce is in St. Lucie county, on Florida’s east coast, and is also known as the Sunrise City, sister to San Francisco, California, the Sunset City. The New York Mets’ spring training facility is located in Port St. Lucie, along with the Mets’ minor league team and minor league operations.

Investment Highlights

  • INCOME TAX-FREE STATE OF FLORIDA | DESIRABLE FT. PIERCE LOCATION
  • SIGNALIZED HARD CORNER | OVER 35,000 VPD INTERSECTION
  • 120+UNIT GUARANTEE WITH SAILORMEN, INC

Exclusively Listed By

Listing Price: $3,302,000

Cap Rate
4.25%
Tenant Name
Popeyes Louisiana Kitchen
Years Remaining On Lease
13.5
Gross SF
2,265
Guarantor
Franchisee Guarantee
Rentable SF
2,265
Price/Gross SF
$1,457.84
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$61.96

Investment Highlights

  • INCOME TAX-FREE STATE OF FLORIDA | DESIRABLE FT. PIERCE LOCATION
  • SIGNALIZED HARD CORNER | OVER 35,000 VPD INTERSECTION
  • 120+UNIT GUARANTEE WITH SAILORMEN, INC

Investment Overview

Marcus & Millichap is pleased to present for sale this single-tenant, absolute triple-net lease Popeyes Restaurant investment opportunity located in Fort Pierce, Florida, within the Port St. Lucie MSA. The property consists of .89-acre parcel improved with an approximately 2,265-square foot building. The newly constructed restaurant has 14 years remaining of the original 15-year lease in place with Sailormen, Inc, one of the largest domestic franchisees of Popeyes Louisiana Kitchen restaurants, currently operating more than 120 Popeyes in Florida and Georgia, with approximately eight to ten new restaurants being built every year. Annual base rent is set at $140,331 with 10 percent rental increases every five years in the base term, as well as the five five-year renewal options. The restaurant is located on the signalized hard-corner of 25th Street and Midway, both major arteries east of I-95 and the Florida Turnpike, linking all the Treasure Coast communities with combined traffic counts of over 37,000 vehicles per day. The near one-acre lot site sits on a developing intersection, directly across from a new Cumberland Farms gas station. Fort Pierce is in St. Lucie county, on Florida’s east coast, and is also known as the Sunrise City, sister to San Francisco, California, the Sunset City. The New York Mets’ spring training facility is located in Port St. Lucie, along with the Mets’ minor league team and minor league operations.

Exclusively Listed By

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