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Views: 97 DOM: 81 Updated: 10.01.24 Posted: 10.01.24 Status: Active

Summary

Price $6,422,000
Built/Renov 2024
Tenant Panera Bread
Cap Rate 4.50%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,950
Lease Start 07-01-2024
#Units 2,182
Price/SF $1,625.82
Expiration 06-30-2039
Tenant Type Fast Casual/Rest.
NOI $289,000
R. Term 14.6
Ownership Fee Simple
Rent/SF $73.16
Increases 10.0%/5/yrs
Pop 5Mi 452,186
Lot/AC 0.28
Options 3/5yrs/10%
AHHI 5Mi $113,944

Lease Highlights

  • The tenant recently signed a brand new 15-year lease with 3 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Panera Bread is strategically located on Moreno Street, with access to a robust daily traffic count of 62,600 vehicles. The property serves as an outparcel to a Target-anchored center, which also includes Gold’s Gym. Target attracts over 2 million visits annually, placing it in the top 15% of all Target locations nationwide, according to Placer.ai. Across from the site is Montclair Place, an...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Panera Bread
  • Guarantor:Corporate
  • Company:JAB Holding Company
  • # Units:2,182
  • 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. Originally founded in 1987 as...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 22,005 186,552 452,910
2024 Total Population : 21,119 185,287 452,186
2024 Employed Civilian Pop : 10,800 89,056 215,933
2024 Total Businesses : 1,445 8,988 17,410
2024 Average Household Income : $ 99,914 $ 110,281 $ 113,944
2024 Total Consumer Spending : $ 639 M $ 5605 M $ 13933 M
2024 Median Age : 34 36 37
2024 Total Households : 7,319 58,548 141,211
2024 Pop Age 25+: Bachelor's Degree : 2,941 22,376 53,055
2024 Average Home Value : $ 586,995 $ 669,137 $ 677,390
*ESRI data is presented for informational purposes only

Listing Broker

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