Panera Bread Lubbock, Texas

$3,535,000
Cap Rate: 5.15%
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 5.15%
Price: $3,535,000
Annual Rent: $182,000
Building Size: 4,925 SF
Lot Size: +/- 1.15 Acres
Year Built: 2018
Lease Term: 15 Years
Lease Type: NNN
Rental Increases: 8% Every 5 Years
Options to Renew: 3, 5-Year Options
Lease Expiration: 15 Years Upon COE

4532 Milwaukee Avenue
Lubbock, TX 79407

Investment Highlights

  • Opening December 2018
  • Long-Term, 15-Year Absolute NNN Lease
  • 8 Percent Increases Every 5 Years with 3, 5-Year Renewal Options
  • Dense Retail Corridor | Walmart, Walgreens, O’Reilly Auto Parts, Wendy’s, McDonald’s Chick-fil-A, as well as Many More
  • Compelling Location Fundamentals | Less Than Six Miles from Texas Tech University and Lubbock Christian University | Over 39,000 Students Enrolled
  • Quality Demographics | Population Exceeds 215,300 Individuals Within a 5-Mile Radius
  • Within Seven Miles of Lubbock Preston Smith International Airport | Serves More Than 600,000 Passengers Annually
  • Strong Traffic Counts | Over 20,600 Vehicles Per Day on Milwaukee Avenue
  • Cain Holding Group | 19-Unit Experienced Operator

 

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a brand new Panera Bread located at 4532 Milwaukee Avenue in Lubbock, Texas. This is a rare investment opportunity to participate in a direct sale-leaseback with Cain Holding Group. The newly constructed site will consist of roughly 4,925 rentable square feet of building space on estimated 1.15 acre parcel of land. The café is scheduled to open in November / December of 2018.

Cain Holding Group will enter into a brand new 15-year triple-net sale leaseback with the purchaser upon close of escrow. The initial annual rent will be $182,000 and will increase by eight percent every five years throughout the term of the lease and in each option period. There will be three, five-year tenant renewal options, extending the total possible lease term to 30 years.

 

Broker of Record

Timothy Speck
License:  432723

 

 

 

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