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 more than 12 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 140 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.