Panera Bread

135 Great Oaks Trail, Wadsworth, OH 44281

$3,871,000

Cap Rate 5.00%

Views: 88 Updated: 05.20.24 Posted: 04.30.23 Status: Inactive 10.03.24

Summary

Price $3,871,000	Built/Renov 2011	Tenant Panera Bread
Cap Rate 5.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 5,206	Lease Start 07-01-2023	#Units 54
Price/SF $743.57	Expiration 06-30-2038	Tenant Type Fast Casual/Rest.
NOI $193,550	R. Term 13.7	Ownership Fee Simple
Rent/SF $37.18	Increases 7.5%/5/yrs	Pop 5Mi 44,053
Lot/AC 1.00	Options 4/5yrs/7.5%	AHHI 5Mi $94,191

Lease Highlights

Panera Bread will execute a brand new 15-year lease at the close of escrow
The lease features 7.5% 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
Absolute NNN lease | Zero landlord responsibilities
Dalcan, LLC (54 Panera Bread Stores) is the guarantor of the lease

Location Description

Panera Bread is strategically located on the hard corner intersection of Ohio 94 and Great Oaks Trail, directly off Interstate 76/Highway 224 which sees a combined 68,500 vehicles passing daily. Interstate 76 is a primary east/west Interstate Highway in the Eastern United States and leads directly to Akron. The property is part of Great Oaks Plaza with nearby major national tenants including...

...

Key Features

Signalized intersection
Hard corner intersection
Major thoroughfare
Dense retail corridor
Freeway visibility
Top 100 MSA
Affluent suburb location
Brand new lease
Absolute NNN
50+ unit franchisee backed

...

Links

Panera Bread Wikipedia, Panera Bread Wikipedia Wadsworth, Ohio Zip Code 44281 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...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	6,916	28,985	45,868
2023 Total Population :	6,853	28,656	45,368
2023 Employed Civilian Pop :	3,401	15,464	23,991
2023 Total Businesses :	236	834	1,226
2023 Average Household Income :	$ 98,052	$ 106,388	$ 112,577
2023 Total Consumer Spending :	$ 269 M	$ 1060 M	$ 1737 M
2023 Median Age :	45	43	43
2023 Total Households :	3,202	11,600	18,015
2023 Pop Age 25+: Bachelor's Degree :	1,332	5,411	8,044
2023 Average Home Value :	$ 282,588	$ 292,446	$ 300,482

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
RAMP FROM SR94 TO IR76-224 WB	High St	2021	3,859	0.04 mi
High Street	PkCentre Dr	2021	27,072	0.07 mi
High St	PkCentre Dr	2016	28,150	0.08 mi
Great Oaks Trl	PkCentre Dr	2014	13,080	0.08 mi
RAMP FROM IR76-224 EB TO SR94	High St	2021	3,233	0.09 mi
Park Centre Dr	Great Oaks Trl	2014	3,170	0.11 mi
RAMP FROM IR76-224 WB TO SR94	High St	2021	7,590	0.12 mi
High St	PkCentre Dr	2014	23,510	0.12 mi
RAMP FROM SR94 TO IR76-224 EB	High St	2021	7,095	0.14 mi
Great Oaks Trl	Freedom Dr	2014	4,215	0.16 mi

Listing Broker

Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
28352 Views
93 Sold

William Wamble

SRS National Net Lease Group

Contact

186 Listings
21790 Views
49 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

...

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

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT