Panera Bread Effingham, Illinois

$2,683,745
Cap Rate: 5.00%
Closed Single-Tenant
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 5.00%
Year Built: 2017
NOI: $134,187
Building Size: 4,187 sq. ft.
Lot Size: 1.3 Acres
Lease Expiration: 15 Years from Close of Escrow

Address:

205 N Keller Dr.
Effingham, IL 62401

Panera Bread is a long-term, 15-year triple net sale-leaseback. There are four, five-year tenant renewal options with eight percent rental increases every five years. Panera Bread offers a brand new 2017 construction, opening soon!

The subject property benefits from being well-positioned in a highly dense retail corridor consisting of national and local tenants, shopping centers, and hotels all within close proximity of this Panera Bread. Major national and local retailers in the area include Walmart, Kohl’s, Menard’s, Aldi, K-Mart, as well as many others. Effingham is home to 17 hotels and over 65 restaurants. Hotel accommodations in the immediate area of the subject property include Holiday Inn, Fairfield Inn & Suites, Hampton Inn & Suites, Days Inn, La Quinta Inn & Suites, and more. HSHS St. Anthony’s Memorial Hospital; a 133-bed acute care facility, has employs over 700 individuals and is one and one-half miles from the subject café. Additionally, St. Anthony’s High School and Effingham High School are both located within two miles of the property; which have a combined enrollment of approximately 1,000 students.

There are more than 14,000 individuals residing within a three-mile radius of the property and more than 18,000 individuals within a five-mile radius. The subject property is located off of North Keller Drive which experiences an average traffic count of 25,000 vehicles daily. The subject property is positioned within close proximity to Interstate 57, a major thoroughfare in Missouri and Illinois that essentially serves as a shortcut route for travelers headed to the south and Chicago, bypassing St. Louis, Missouri. Interstate 57 experiences an average daily traffic count of over 35,700 vehicles at the confluence in which this Panera Bread is located.

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