Panera Bread Tulsa, Oklahoma

Cap Rate: 5.15%
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 5.15%
Price: $2,912,621
Building Size: 5,013 SF
Annual Rent: $150,000
Price PSF: $581
Land Area: +/- 1.01 Acres
Year Built: 2018
Lease Type: NNN
Lease Term: 19 Years
Option Periods: 4, 5-Year Options
Rent Increases: 1.75% Annually Starting Year 5
Lease Expiration: 19 Years Upon COE

10752 S. Memorial Drive
Tulsa, OK 74133

Investment Highlights

  • New Construction | Built in 2018
  • Long-Term, 19-Year Absolute Triple Net Sale-Leaseback
  • Lease Commencement Upon Close of Escrow
  • 1.75% Rental Increases Annually Starting Year Five
  • 4, 5-Year Tenant Renewal Options, Bringing the Potential Lease Term to 39 Years
  • Dense Retail Corridor | Walmart, Costco Wholesale, Lowe’s, Target, Aldi, Walgreens, CVS Pharmacy, Burger King, Taco Bell, Holiday Inn & Suites, as well as Many Others
  • Strong Academic Presence | Less Than Five Miles From Tulsa Community College | Over 20,100 Students Enrolled
  • Strong Traffic Counts | Over 54,000 Vehicles Per Day Along S. Memorial Drive

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a newly built Panera Bread located at 10752 S. Memorial Drive in Tulsa, OK. This is an investment opportunity to participate in a direct sale leaseback with Traditional Bakery, Inc.. The newly constructed site will consist of roughly 5,013 rentable square feet of building space on estimated 1.01-acre parcel of land. The café opened in 2018.

Traditional Bakery, Inc., the franchisee operating entity, will enter into a brand new 19-year NNN sale leaseback with the purchaser upon close of escrow. The initial annual rent will be $150,000 and will increase by 1.75 percent annually starting year 5 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 39 years.

Broker of Records

Tim Speck

District Manager


Lic # 149994

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