Panera Bread Garner,North Carolina

Property type:Single-Tenant Net Lease

The space

  • Purchase Price: $3,529,054
  • CAP Rate: 4.75%
  • Annual Rent: $167,630
  • Price PSF: $646.35
  • Lease Term: 15 Years
  • Lease Commencement: Upon Close of Escrow
  • Lease Type: NNN
  • Roof & Structure: Tenant Responsible
  • Rental Increases: 8% Every 5 Years
  • Options to Renew: 4, 5-Year Options


5158 NC Highway 42
Garner, NC 27529

Investment Highlights

  • Brand New Construction; Opening October 2019!
  • Long-Term, 15-Year Absolute Triple Net Lease
  • Lease Commencement Upon Close of Escrow
  • Eight Percent Rental Increases Every Five Years
  • Four, Five-Year Tenant Renewal Options, Bringing the Potential Lease Term to 35 Years
  • Corporate Tenant | Corporate Guarantee
  • Dense Retail Corridor | Walmart, Lowe’s, Walgreens, CVS Pharmacy, Dairy Queen, McDonald’s, Burger King, Holiday Inn Express, Hampton Inn, as well as Many Others
  • Strong Academic Presence | Less Than Ten Miles From Wake Technical Community College | Over 69,900 Students Enrolled
  • Average Income Within a Three-Mile Radius Exceeds $89,175 | Population Exceeds 194,520 Individuals Within a 10-Mile Radius
  • Within Five Miles of Raleigh, NC | Raleigh Durham International Airport – Serves Over 11.6 Million Passengers Annually
  • Strong Traffic Counts | Over 27,540 and 51,930 Vehicles Per Day Along NC Highway 42 and Interstate-40


Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a brand-new Panera Bread located at 5158 NC Highway 42 in Garner, NC. This is a rare investment opportunity to participate in a direct sale leaseback with Panera Bread. The newly constructed site will consist of roughly 5,460 rentable square feet of building space on estimated 1.41-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 sale leaseback with the purchaser upon close of escrow. The initial annual rent will be $167,630 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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