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Updated: 01.13.24 Posted: 01.27.23 Status: Sold

Summary

Price $2,000,000
Built/Renov 2018
Tenant Panera Bread (GL)
Cap Rate 4.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,895
Lease Start 02-13-2019
#Units 2,118
Price/SF $408.58
Expiration 01-31-2035
Tenant Type Fast Casual/Rest.
NOI $90,000
R. Term 9.8
Ownership Ground Lease
Rent/SF $18.39
Increases 10.0%/1/yrs
Pop 5Mi 213,359
Lot/AC 1.10
Options 2/5yrs/10%
AHHI 5Mi $101,904

Lease Highlights

  • Panera Bread has been operating in this location since 2018
  • The tenant has over 12 years remaining on its current lease with 2 (5-year) options to extend
  • Ground lease features 10% rental escalations every 5 years throughout the initial term and at each option
  • Absolute NNN lease zero landlord responsibilites
  • Corporate guarantee by Panera Bread, LLC.

Location Description

Panera Bread is strategically located along White Bear Avenue which sees over 17,994 vehicles per day and is just 0.5 miles south of Interstate 694 (79,089 VPD), an east-west thoroughfare that stretches across the entire northern portion and part of the eastern portion of the Minneapolis-St. Paul MSA. The site is positioned as an outparcel to Maplewood Mall, a super-regional mall anchored by...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Panera Bread (GL)
  • 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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 9,154 72,064 211,647
2023 Total Population : 9,231 71,604 210,554
2023 Employed Civilian Pop : 4,630 37,836 109,446
2023 Total Businesses : 599 2,316 5,368
2023 Average Household Income : $ 101,192 $ 104,430 $ 104,038
2023 Total Consumer Spending : $ 331 M $ 2515 M $ 7020 M
2023 Median Age : 40 41 38
2023 Total Households : 3,788 28,032 78,253
2023 Pop Age 25+: Bachelor's Degree : 1,345 12,350 33,877
2023 Average Home Value : $ 359,564 $ 352,191 $ 361,269
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
White Bear Ave N Maplewood Mall Dr 2019 20,600 0.03 mi
Lydia Avenue East Ariel St 2018 2,650 0.16 mi
Beam Avenue Maplewood Mall Dr 2018 15,100 0.17 mi
Beam Ave Maplewood Mall Dr 2018 16,200 0.19 mi
Beam Ave White Bear Ave 2018 4,200 0.20 mi
Woodlynn Ave White Bear Ave 2017 4,450 0.22 mi
White Bear Ave N Woodlynn Ave 2019 22,700 0.30 mi
Beam Avenue Frederick St 2018 4,200 0.31 mi
Radatz Ave Southlawn Dr 2018 680 0.32 mi
Southlawn Drive Southlawn Dr 2018 7,000 0.33 mi

Listing Broker

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