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Views: 50 DOM: 102 Updated: 10.08.24 Posted: 08.23.24 Status: Active

Summary

Price $5,088,000
Built/Renov 2020
Tenant Panera Bread
Cap Rate 5.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 4,935
Lease Start 07-01-2024
#Units 2,118
Price/SF $1,031.00
Expiration 06-30-2039
Tenant Type Fast Casual/Rest.
NOI $254,400
R. Term 14.7
Ownership Fee Simple
Rent/SF $51.55
Increases 8.0%/5/yrs
Pop 5Mi 107,278
Lot/AC 0.84
Options 4/5yrs/8%
AHHI 5Mi $85,402

Lease Highlights

  • Panera Bread recently signed a brand new 15-year lease with 4 (5-year) options to extend
  • The lease features 8% 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 Clack Street, with access to 20,100 vehicles passing by daily. The property conveniently fronts U.S. Highway 83, which sees 59,000 VPD, a major commuter route that connects to State Highway 322 and Interstate 20. Additionally, the site serves as an outparcel to the Shops at Abilene Village, is adjacent to the Shops at Abilene and Park Central Shopping...

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Maps

  • 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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Listing Broker

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