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Panera Bread 921 Nashville Pike 4,286 SF Retail Building Gallatin, TN 37066 $3,076,923 ($717.90/SF) 5.90% Cap Rate

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INVESTMENT HIGHLIGHTS

LEASE TERMS & GUARANTOR – Tenant has ±5 years remaining on the first option with two 5-year options to extend at 10% rental increases
PROPERTY FEATURES – Drive-thru equipped on ±2.00 acres, built in 2014.
DENSE RETAIL POCKET – Surrounded by multiple nationally recognized tenants such as Walmart, Zaxby’s, Cracker Barrel, Chick-Fil-a, Starbucks, Kroger

OWNERSHIP & LEASE TYPE – Fee Simple, NN+, lease (Minimal landlord responsibilities).
HIGH TRAFFIC COUNT – Over 2 acres off Nashville Pike and Lock Rd, with 30,170+ VPD.
STRONG DEMOGRAPHICS – Average household income over $101,221 within a 3-mile radius, with retail vacancy at just 3.75%.

EXECUTIVE SUMMARY

Broker of Record
Hutt Cooke
License No. 263667 (TN)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203

PROPERTY FACTS

Sale Type

Investment

Property Type

Retail

Property Subtype

Freestanding

Building Size

4,286 SF

Building Class

Year Built

2014

Price

$3,076,923

Price Per SF

$717.90

Cap Rate

5.90%

NOI

$181,538

Tenancy

Single

Building Height

1 Story

Building FAR

0.03

Lot Size

3.10 AC

Zoning

Commercial

MAJOR TENANTS

Accommodation and Food Services
-
$35.71
Triple Net
-

Panera began in 1987 as St. Louis Bread Company, a humble community bakery founded with a sourdough starter from San Francisco and a dream of putting a loaf of bread in every arm. While Panera's business has expanded well beyond St. Louis since then, that same sourdough starter is still used in their iconic sourdough bread and the craft of baking bread fresh each day remains at the heart of Panera Bread. Each day their trained bakers fill their bakery shelves with delicious freshly baked cookies, pastries, bagels, and a range of breads from focaccia to classic baguettes. Panera Bread is privately held by JAB Holding Company. Panera Bread is part of Panera Brands, one of the largest fast casual restaurant platforms in the U.S., comprised of Panera Bread®, Caribou Coffee® and Einstein Bros.® Bagels.