Panera Bread

7337 Broadview Road, Seven Hills, OH 44131

$2,668,000

Cap Rate 5.00%

Views: 87 DOM: 296 Updated: 08.28.24 Posted: 04.30.23 Status: Sold 02.20.24

Summary

Price $2,668,000	Built/Renov 2009	Tenant Panera Bread
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 5,282	Lease Start 07-01-2023	#Units 54
Price/SF $505.11	Expiration 06-30-2038	Tenant Type Fast Casual/Rest.
NOI $133,379	R. Term 13.9	Ownership Fee Simple
Rent/SF $25.25	Increases 7.5%/5/yrs	Pop 5Mi 174,425
Lot/AC 1.25	Options 4/5yrs/7.5%	AHHI 5Mi $81,620

Lease Highlights

Panera Bread will execute a brand new 15-year lease at the close of escrow
The lease features 7.50% rental increases every five years throughout the initial term and at the beginning of each option
The lease also includes 4 (5-year) options to extend
Lease is Absolute NNN with zero landlord responsibilities
Covelli Enterprises is the largest Panera Franchisee, operating 300+ locations across the country
Dalcan, LLC (54 Panera Bread Stores) is the guarantor of the lease

Location Description

The subject property is located on Broadview Road, a primary retail and commuter thoroughfare serving Seven Hills and the immediate trade area. The site benefits from multiple points of access, providing ease and convenience for customers. Panera Bread also benefits from significant street frontage, promoting excellent visibility. The location is surrounded by many major nationals such as...

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Key Features

Hard corner intersection
Dense retail corridor
Near major nationals
Dense 100M+ pop 5 mi
Top 100 MSA
Strong demographics
Brand new lease
Long 15+ yr lease
Absolute NNN
50+ unit franchisee backed

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Links

Panera Bread Wikipedia, Panera Bread Wikipedia, Seven Hills, Ohio Zip Code 44131 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Panera Bread
Guarantor:Franchisee
Company:Dalcan, LLC
# Units:54
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 :	7,032	62,849	172,007
2023 Total Population :	7,249	64,004	175,077
2023 Employed Civilian Pop :	3,756	34,226	94,244
2023 Total Businesses :	200	2,068	6,584
2023 Average Household Income :	$ 97,447	$ 104,940	$ 93,527
2023 Total Consumer Spending :	$ 268 M	$ 2449 M	$ 6156 M
2023 Median Age :	54	49	45
2023 Total Households :	3,203	27,183	76,243
2023 Pop Age 25+: Bachelor's Degree :	1,299	11,812	28,797
2023 Average Home Value :	$ 218,709	$ 241,059	$ 221,077

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Broadview Rd	Hillside Rd	2001	21,374	0.18 mi
Hillside Rd	Broadview Rd	2003	3,500	0.21 mi
Broadview Rd	Ridgeview Dr	2003	19,250	0.22 mi
Broadview Rd	Vicksburg Dr	2010	17,100	0.23 mi
E Pleasant Valley Rd	Broadview Rd	2003	22,850	0.29 mi
PLEASANT VALLEY RD	Lincolnshire Ln	2020	16,480	0.44 mi
Broadview Rd	E Parkhaven Dr	2013	15,790	0.74 mi
E Pleasant Valley Rd	S Cricket Ln	2016	21,891	0.85 mi
McCreary Rd	Orchardview Rd	2012	2,792	0.90 mi
Broadview Rd	E Sprague Rd	2004	22,395	0.96 mi

Listing Broker

Patrick Nutt

SRS National Net Lease Group

Contact

247 Listings
19892 Views
83 Sold

William Wamble

SRS National Net Lease Group

Contact

171 Listings
14872 Views
40 Sold

Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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William Wamble

Will Wamble joined SRS in early 2019 and specializes in the advisory and sale of net leased properties, specifically in the Southeast. With more than $350M worth of transactional experience in his career, Will prides himself on valuing hard work and dedication to his clients. Will emphasizes collaboration and putting the best team together to find creative solutions to getting transactions completed. He started his commercial real estate career in 2013 with Marcus & Millichap where he focus

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