Panera Bread

5091 Bayou Boulevard, Pensacola, FL 32503

$4,125,000

Cap Rate 5.24%

DOM: 524 Updated: 08.26.24 Posted: 11.21.23 Status: Contract 03.25.24

Summary

Price $4,125,000	Built/Renov 2012	Tenant Panera Bread
Cap Rate 5.24%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 4,861	Lease Start 11-22-2019	#Units 2,118
Price/SF $848.59	Expiration 12-31-2034	Tenant Type Fast Casual/Rest.
NOI $216,297	R. Term 9.8	Ownership Fee Simple
Rent/SF $44.50	Increases 10.0%/2/yrs	Pop 5Mi 148,136
Lot/AC 0.99	Options 5/10yrs	AHHI 5Mi $74,490

Lease Highlights

Panera Bread has 11 years of primary term remaining with 3 (5-year) renewal options
The lease features a 10% rent increase in January 2025 & January 2030
The offering includes a billboard lease that pays $10,000 per year through October 31, 2032
Absolute NNN | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Panera is located with excellent access and visibility on the signalized intersection of North 9th Avenue (26,000 VPD) and Bayou Boulevard (25,860 VPD). Additionally, the property is just 1 mile east of the on-ramp to Interstate 110 (70,673 VPD), which converges with I-10 (81,500 VPD) just 2.5 miles north; serving all suburban Pensacola and Tallahassee. Panera is an out parcel to a...

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Key Features

Signalized intersection
High traffic 50M+ VPD
Dense retail corridor
Hospital close
Dense 100M+ pop 5 mi
Major MSA
Income tax free state
Long 10+ yr lease
Top performing store
Corporate Guarantee

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Links

Panera Bread Wikipedia Panera Bread Wikipedia Pensacola, Florida Zip Code 32503 Broker Site Page

Maps

Local Information

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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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	5,124	64,548	148,957
2023 Total Population :	5,190	64,569	148,136
2023 Employed Civilian Pop :	3,340	32,001	72,559
2023 Total Businesses :	1,039	4,107	8,453
2023 Average Household Income :	$ 68,336	$ 78,622	$ 74,490
2023 Total Consumer Spending :	$ 153 M	$ 1757 M	$ 4037 M
2023 Median Age :	42	39	40
2023 Total Households :	2,565	25,661	61,897
2023 Pop Age 25+: Bachelor's Degree :	650	8,713	19,883
2023 Average Home Value :	$ 282,071	$ 302,660	$ 279,694

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Brent Ln	N 9th Ave	2009	23,700	0.04 mi
Bayou Blvd	Askew Dr	2009	23,500	0.17 mi
N 9th Ave	Carpenter Creek	2009	25,000	0.25 mi
North 9th Avenue	College Blvd	2022	26,000	0.29 mi
North 9th Avenue	Trinity Dr	2021	31,500	0.29 mi
Brent Lane	Springhill Dr	2022	25,860	0.36 mi
Bayou Boulevard	Kenyon Rd	2022	23,000	0.42 mi
Bayou Boulevard	Askew Dr	2021	27,000	0.42 mi
N 9th Ave	Trinity Dr	2005	35,799	0.45 mi
Royce Street	N Davis Hwy	2022	2,300	0.49 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

133 Listings
25523 Views
79 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
24836 Views
76 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Thomas Carr

CBRE: NLPG Atlanta

Contact

135 Listings
25697 Views
78 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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