Panera Bread Warren,Michigan

$2,873,634
Closed Single-Tenant
Property type:Single-Tenant Net Lease

The space

  • Listing Price: $2,873,634
  • NOI : $136,498
  • Cap Rate: 4.75%
  • Lease Type: Triple Net (NNN)
  • Guarantor: Corporate Guarantee
  • Rentable SF: 4,400
  • Lot Size: 0.33 Acres
  • Year Built: 2022

Description

30205 Mound Road
Warren, Michigan 48092

Investment Highlights

  • Brand New Construction; Estimated Opening Date July 2022
  • Increased Drive Thru Capacity | Property Features a Double-Lane Drive Thru
  • Long-Term, 15-Year Absolute Triple Net (NNN) Lease

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a brand-new Panera Bread located at 30205 Mound Road in Warren, MI. This is a rare investment opportunity to participate in a direct sale leaseback with Panera Bread. The newly constructed site will consist of roughly 4,400 rentable square feet of building space on estimated 0.33-acre parcel of land. The café is scheduled to open in July of 2022.

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 $136,498 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

Steve Chaben
License: 3502387903

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