Panera Bread West Lafayette,Indiana

$3,549,817
Available
Property type:Single-Tenant Net Lease

The space

  • Listing Price: $3,549,817
  • CAP Rate: $168,616
  • Net Operating Income: 4.75%
  • Lease Type: Triple Net (NNN)
  • Guarantor: Corporate
  • Rentable Square Feet: 3,498

Description

3075 Sachem Boulevard
West Lafayette, Indiana 47906

Investment Highlights

✓ Brand New Construction; Estimated Opening Date November 2022!
✓ Increased Drive Thru Capacity | Property Features a Double Lane Drive Thru
✓ Long-Term, 15-Year Absolute Triple Net (NNN) Lease
✓ Lease Commencement Upon Close of Escrow
✓ Eight Percent (8.0%) Rental Increases Every Five (5) Years
✓ Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 35 Years

 

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a brand-new Panera Bread located at 3075 Sachem Boulevard in West Lafayette, IN. This is a rare investment opportunity to participate in a direct sale leaseback with Panera Bread. The newly constructed site will consist of roughly 3,498 rentable square feet of building space on estimated 1.90-acre parcel of land. The café is scheduled to open in November 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 $168,616 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

Josh Caruana
License: RB14034355

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