Panera Bread

2080 North Lecanto Highway, Lecanto, FL 34461

$3,426,000

Cap Rate 4.70%

Views: 121 DOM: 197 Updated: 11.25.24 Posted: 06.07.24 Status: Active

Summary

Price $3,426,000	Built/Renov 2024	Tenant Panera Bread
Cap Rate 4.70%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 3,500	Lease Start 07-01-2024	#Units 2,118
Price/SF $978.86	Expiration 06-30-2039	Tenant Type Fast Casual/Rest.
NOI $161,000	R. Term 14.6	Ownership Fee Simple
Rent/SF $46.00	Increases 10.0%/5/yrs	Pop 5Mi 46,667
Lot/AC 1.09	Options 4/5yrs/10%	AHHI 5Mi $77,330

Lease Highlights

Brand new 2024 construction
Brand new 15-year lease with 4 (5-year) options to extend
The lease features 10% rental increases every 5 years throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

Panera Bread is strategically located on North Lecanto Highway, with access to 24,200 vehicles passing by daily. The property serves as an outparcel to the Shoppes at Black Diamond, a new retail development anchored by Target, and other well-known national tenants including ALDI, KFC, Starbucks, 7-Eleven, Express Oil, Texas Roadhouse, and more. Additionally, it is situated near several...

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Key Features

New construction
Signalized intersection
Dense retail corridor
Shopping Ctr out-parcel
Income tax free state
Brand new lease
Long 15+ yr lease
Over 2000 units backed
Corporate Guarantee

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Links

Panera Bread Wikipedia Panera Bread Wikipedia Lecanto, Florida Zip Code 34461 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
2029 Total Population :	1,514	23,947	50,005
2024 Total Population :	1,448	22,896	47,870
2024 Employed Civilian Pop :	444	7,029	15,179
2024 Total Businesses :	95	618	1,335
2024 Average Household Income :	$ 86,835	$ 89,441	$ 86,058
2024 Total Consumer Spending :	$ 42 M	$ 825 M	$ 1635 M
2024 Median Age :	63	63	62
2024 Total Households :	554	10,386	21,433
2024 Pop Age 25+: Bachelor's Degree :	245	3,053	6,008
2024 Average Home Value :	$ 387,106	$ 364,309	$ 344,773

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
West Norvell Bryant Highway	N Lakecrest Loop	2022	13,000	1.34 mi
West Pearson Street	W Pearson St	2022	3,200	1.91 mi
Roosevelt Boulevard	S Columbus St	2022	6,200	2.11 mi
West Mustang Boulevard	N Wigwam Ter	2022	3,300	2.38 mi
Gulf to Lake Highway	W Ancona Path	2022	18,300	2.63 mi
W Gulf To Lake Hwy	N Van Nortwick Rd	2005	25,000	2.78 mi
South Lecanto Highway	W Southern St	2022	6,000	2.80 mi
North Forest Ridge Boulevard	W Lake Beverly D	2022	12,600	2.89 mi
North Essex Avenue	E Eureka Ct	2022	3,400	2.97 mi

Listing Broker

Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
30192 Views
93 Sold

William Wamble

SRS National Net Lease Group

Contact

186 Listings
23338 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

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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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