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Views: 46 DOM: 35 Updated: 07.09.24 Posted: 06.07.24 Status: Active

Summary

Price $3,426,000
Built/Renov 2024
Tenant Panera Bread
Cap Rate 4.70%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,500
Lease Start 07-01-2024
#Units 2,118
Price/SF $978.86
Expiration 06-30-2039
Tenant Type Fast Casual/Rest.
NOI $161,000
R. Term 14.11
Ownership Fee Simple
Rent/SF $46.00
Increases 10.0%/5/yrs
Pop 5Mi 46,667
Lot/AC 1.09
Options 4/5yrs/10%
AHHI 5Mi $77,330

Lease Highlights

  • Brand new 2024 construction
  • Brand new 15-year lease with 4 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Panera Bread is strategically located on North Lecanto Highway, with access to 24,200 vehicles passing by daily. The property serves as an outparcel to the Shoppes at Black Diamond, a new retail development anchored by Target, and other well-known national tenants including ALDI, KFC, Starbucks, 7-Eleven, Express Oil, Texas Roadhouse, and more. Additionally, it is situated near several...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Panera Bread
  • Guarantor:Corporate
  • Company:JAB Holding Company
  • # Units:2,118
  • Stock:Private

About Tenant

Panera Bread Company is an American bakery-café fast-casual restaurant chain, offering bakery items, pasta, salads, sandwiches, soups, and specialty drinks. Founded in 1987 as Paradise...


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Listing Broker

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