Panera Bread Grand Haven, Michigan

$2,700,000
Cap Rate: 5.00%
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 5.00%
Price: $2,700,000
Rentable Square Feet: 4,000
Annual Rent: $135,000
Opening Date: Nov 18, 2019
Price PSF: $675.00
Land Area: 0.64 Acres
Year Built: 2019
Lease Guarantor: Manna Development Group
Lease Type: NNN Ground Lease
Lease Term: 15 Years
Option Periods: 3, 5-Year Options
Rental Increases: 10% Every 5 Years
Lease Expiration: Nov 17, 2034

1001 South Beacon Blvd
Grand Haven, MI 49417

Investment Highlights

  • Brand New, 15-Year, Triple Net (NNN) Ground Lease
  • Three, Five-Year Renewal Options with 10 Percent Rental Increases Every Five Years Throughout Base Term and Option Periods
  • Brand New Location with Drive Thru; Open Date Nov 18, 2019
  • Relocation Store from Adjacent Shopping Center, Anchored by Anytime Fitness and Rent-A-Center
  • Located on Beacon Boulevard With a Daily Traffic Count of More Than 43,000 Vehicles
  • Part of a Major Retail Area in Grand Haven
  • Surrounding National Retailers Include Walmart Supercenter, Home Depot, Staples, Advance Auto Parts, Anytime Fitness, Planet Fitness, Dollar Tree, GNC, Walgreens, Starbucks, Taco Bell, KFC, McDonald’s, Applebee’s, PNC Bank, and Many More
  • 2.5 Miles from Grand Haven Memorial Airpark
  • Four Miles from Muskegon Community College – Grand Haven
  • Strong Franchisee; Owns and Operates More Than 130 Panera Bread Locations Throughout the Country

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a brand-new Panera Bread located at 1001 South Beacon Blvd in Grand Haven, MI. The newly constructed site will consist of roughly 4,000 rentable square feet of building space and will include a drive thru. This is a relocation store from the adjacent shopping center that opened on November 18, 2019.

The subject property is part of a major retail area in Grand Haven and is located on Beacon Boulevard with a daily traffic count of more than 43,000 vehicles. Surrounding national retailers include Walmart Supercenter, Home Depot, Staples, Advance Auto Parts, Anytime Fitness, Planet Fitness, Dollar Tree, GNC, Walgreens, Starbucks, Taco Bell, KFC, McDonald’s, Applebee’s, PNC Bank and many more. Panera Bread is 2.5 miles from Grand Haven Memorial Airpark and four miles from Muskegon Community College – Grand Haven campus.

Manna Development Group, LLC owns and operates more than 130 Panera Bread locations throughout southern California, Oregon, Washington, Michigan, Indiana and Colorado.

Broker of Record:
Steve Chaben
Regional Manager, Detroit
Lic. # 6502387903

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