Panera Bread Fayetteville,North Carolina

$3,979,380
Property type:Single-Tenant Net Lease

The space

  • Price: $3,979,380
  • Annual Rent: $189,021
  • Store Opening: October, 2019
  • Lease Term: 15 Years
  • Lease Type: NNN
  • Rental Increases: 8% Every 5 Years
  • Options to Renew: 4, 5-Year Options
  • Estimated Sq. Ft.: 4,425
  • Estimated Lot Size: +/- 0.75 Acres
  • Tenant / Guarantor: Corporate; Panera LLC

Description

2810 Raeford Road
Fayetteville, NC 28303

Investment Highlights

  • Brand New Construction; Opening October 2019!
  • Long-Term, 15-Year Absolute Triple Net (NNN) Lease
  • Lease Commencement Upon Close of Escrow
  • 8% Rental Increases Every Five (5) Years
  • 4, 5-Year Tenant Renewal Options, Bringing the Potential Lease Term to 35 Years
  • Corporate Tenant | Corporate Guarantee
  • Dense Urban Infill | Publix, Harris Teeter, BB&T, Exxon, Dunkin’ Donuts, Wendy’s, Taco Bell, Hardee’s, as well as Many Others
  • Strong Academic Presence | Less Than Three Miles From Fayetteville State University | Over 6,020 Students Enrolled
  • Excellent Demographics | Population Exceeds 146,530 Individuals Within a Five-Mile Radius and 302,110 Individuals Within a Ten-Mile Radius
  • Positive Real Estate Fundamentals | Approximately 50 Miles From Downtown Raleigh | The Second Largest City in and the Capital of North Carolina
  • Strong Traffic Counts | Over 44,940 and 49,670 Vehicles Per Day Along Raeford Road and All American Freeway

 

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a brand-new Panera Bread located at 2810 Raeford Road in Fayetteville, 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 4,425 rentable square feet of building space on estimated 0.75-acre parcel of land. The café is scheduled to open in October of 2019.

Panera, LLC, the corporate operating entity, will enter into a brand new 15-year triple-net (NNN) sale leaseback with the purchaser upon close of escrow. The initial annual rent will be $189,021 and will increase by eight percent (8.0%) every five (5) years throughout the term of the lease and in each option period. There will be four (4), five (5)-year tenant renewal options, extending the total possible lease term to 35 years.

 

Broker of Record

Ben Yelm
Lic# 303785

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