Panera Bread Fuquay-Varina, North Carolina

$3,011,809

The space

  • Price: $3,011,809
  • Rentable Square Feet: 4,500 SF
  • Annual Rent: $143,061
  • Price PSF: $669.29
  • Lot Size: +/- 0.80 Acres
  • Lease Type: NNN
  • Lease Term: 15 Years
  • Option Periods: 4, 5-Year Options
  • Rent Increases: 8% Every 5 Years
  • Expiration Date: 15 Years Upon COE

Description

1330 North Main Street
Fuquay-Varina, NC 27526

Investment Highlights

  • Brand New Construction; Opening May 2019!
  • Long-Term, 15-Year Absolute Triple Net (NNN) Lease
  • Lease Commencement Upon Close of Escrow
  • 8% Rental Increases Every 5 Years
  • 4, 5-Year Tenant Renewal Options, Bringing the Potential Lease Term to 35 Years
  • Corporate Tenant | Corporate Guarantee
  • Dense Retail Corridor | Walmart, The Home Depot, Walgreens, Aldi, Kroger, Kohl’s, Staples, Burger King, Starbucks, Applebee’s, as well as Many Others
  • Less Than 15 Miles from North Carolina State University and Wake Tech Community College | Over 50,000 Students Enrolled
  • Average Income within a 5-Mile Radius Exceeds $96,100 | Population Exceeds 196,000 Individuals Within a 10-Mile Radius
  • Within 15 Miles of Downtown Raleigh | Raleigh-Durham International Airport Serves Over 11.6 Million Passengers Annually
  • Strong Traffic Counts | Over 39,200 Vehicles Per Day on North Main Street

 

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a brand-new Panera Bread located at 1330 North Main Street in Faquay-Varina, North Carolina. This is a rare investment opportunity to participate in a direct sale leaseback with Panera Bread. The newly constructed site will consist of roughly 4,500 rentable square feet of building space on estimated 0.80-acre parcel of land. The café is scheduled to open in May of 2019.

Panera, LLC, the corporate operating entity, 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 $143,061 and will increase by eight percent every five years throughout the term of the lease and in each option period. There will be four, five-year tenant renewal options, extending the total possible lease term to 35 years.


Broker of Record

Ben Yelm
Lic# 303785

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