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Views: 150 Updated: 05.20.24 Posted: 08.31.22 Status: Inactive 10.03.24

Summary

Price $3,797,000
Built/Renov 2010
Tenant Panera Bread
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 5,687
Lease Start 10-01-2023
#Units 54
Price/SF $667.66
Expiration 09-30-2038
Tenant Type Fast Casual/Rest.
NOI $189,827
R. Term 13.10
Ownership Fee Simple
Rent/SF $33.38
Increases 7.5%/5/yrs
Pop 5Mi 63,622
Lot/AC 1.12
Options 4/5yrs/7.5%
AHHI 5Mi $63,622

Lease Highlights

  • Tenant will execute a brand new 15-year lease (at close of escrow) with 4 (5-year) options to extend
  • Lease will feature 7.5% rental increases every five years throughout the initial term and at the beginning of each option
  • Absolute NNN lease | Zero landlord responsibilities
  • Franchisee guarantee by Covelli Enterprises (largest Panera Franchisee w/54 units

Location Description

Panera Bread is strategically located at the signalized, hard corner intersection of Cooper Foster Park Road and Oak Point Road which sees a combined 17,800 vehicles passing by daily. It is positioned as an outparcel to The Shops at Deerfield, a fully occupied Community Center which is anchored by Lowe’s and Target. Panera Bread is directly off State Highway 2 (43,000 VPD), an...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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
2027 Total Population : 5,998 35,655 73,715
2022 Total Population : 5,849 35,098 72,901
2022 Employed Civilian Pop : 2,893 17,031 32,417
2022 Total Businesses : 126 1,023 1,934
2022 Average Household Income : $ 108,885 $ 88,875 $ 71,679
2022 Total Consumer Spending : $ 199 M $ 1109 M $ 1870 M
2022 Median Age : 44 45 43
2022 Total Households : 2,157 14,575 30,219
2022 Pop Age 25+: Bachelor's Degree : 842 4,361 6,875
2022 Average Home Value : $ 247,708 $ 224,288 $ 199,066
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
OAK POINT RD PkSq 2020 7,488 0.10 mi
RAMP FROM OAK POINT RD TO SR2 WB Oak Point Rd 2020 2,107 0.12 mi
RAMP FROM SR2 WB TO OAK POINT RD Oak Point Rd 2020 4,680 0.17 mi
2019 2,191 0.19 mi
RAMP FROM SR2 EB TO OAK POINT RD N Lake St 2020 1,891 0.19 mi
RAMP FROM OAK POINT RD TO SR2 EB N Lake St 2020 5,074 0.22 mi
2019 5,562 0.22 mi
Oak Point Rd S Mayflower Dr 2013 7,145 0.24 mi
Cooper Foster Park Rd W Oak Point Rd 2012 3,993 0.25 mi
State Rte 2 N Lake St 2002 42,950 0.36 mi

Listing Broker

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