Perkins American Food Co.

Highlights:

• Passive Investment Opportunity: Absolute NNN lease with zero landlord responsibilities
• Attractive Rental Escalations: Rent Escalations during the initial term and option periods
• 6,015 SF Freestanding Building on 1.19 Acres - Ideal footprint for single tenant occupancy
• High-Traffic Location: Located at the intersection of S. Federal Hwy and SE Veterans Memorial Pkwy, with a combined traffic count of ±57,000 vehicles per day
• Prime Outparcel Positioning: Situated within a 112,000 SF Publixanchored shopping center
• Affluent Trade Area: Average household income of $76,981 within a 5-mile radius
• Strong and Growing Demographics: Over 133,419 residents within 5 miles, with projected population growth of 3.9% by 2029

Description:

Perkins is a well-established American family restaurant chain founded in 1958, known for its warm, welcoming atmosphere and homestyle comfort food. Over the years, it has built a strong reputation for serving high-quality breakfast all day, hearty crowd favorites like steaks, burgers, sandwiches, and desserts baked fresh in house. The bakery component is a standout feature: pies, Mammoth Muffins®, cookies, and specialty pastries are made daily, giving the brand a unique edge and appealing to both dine-in and to-go customers.

With close to 300 locations across 32 states and into Canada, Perkins offers both scale and consistency in guest experience. The business model includes full-service dining together with flexible formats like virtual kitchens, delivery, and third-party partnerships. This diversified revenue approach helps maintain relevance in changing market conditions and demonstrates strong operational adaptability.

Currently undergoing a thoughtful rebranding to Perkins American Food Co., the chain is refreshing its look, updating its menu, and enhancing service options while retaining its core values of comfort, quality, and value. The rebrand keeps the beloved bakery offerings front and center and introduces modernized dining spaces, a new logo and design aesthetics, loyalty programs, and expanded delivery and carry-out options to better meet guest preferences.

Port St. Lucie is a major city in St. Lucie County, Florida. It is the most populous municipality in the county and the sixth-most populous city in Florida, with a 2020 census population of about 204,851. The city serves as a principal city in its metropolitan statistical area, which spans St. Lucie and nearby Martin County, and contributes to a combined statistical area with over six million people. Its land area covers roughly 120 square miles, giving it substantial scope for both residential and commercial growth.

Economically, Port St. Lucie has seen rapid population growth in recent decades, reflecting strong demand for housing, infrastructure, and services. The expansion has been supported by development of new master-planned communities, large residential projects, and mixed-use developments. Notably, the Tradition community includes significant commercial area alongside residential development, generating jobs in manufacturing, distribution, retail, and services. A large manufacturing and distribution center was constructed in one of its commerce parks, signaling investment in business infrastructure and local employment.

In terms of connectivity and infrastructure, Port St. Lucie benefits from major expressways including Interstate 95 and Florida’s Turnpike, providing direct access to major Florida metros such as Orlando and Miami. The city maintains an extensive roadway network, and its transportation services include several fixed-route bus lines serving regional needs. Airports within reasonable distance further support access and logistics. Education and public amenities are strong, with multiple elementary, middle, high, and higher-education institutions and several library branches, parks, conservatories, and natural preserves that enhance quality of life and community appeal.

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