Panera Bread Ground Lease with Drive-Thru
Single-Tenant Offerings
Panera Bread Ground Lease with Drive-Thru
1941 S Reed Road
Kokomo, IN
- Price:
- $2,630,500
- Cap Rate:
- 4.65%
- NOI:
- $122,500
- Rentable SQFT:
- 4,900 SF
- Year Built:
- 2003
- Lot Size:
- 0.72 +/- Acres
- Lease Type:
- NNN Ground Lease
- Status:
- Under Contract
Investment Highlights
- 10 Years Remaining with Increases Every 2 Years, Tenant Recently Extended the Lease Early
- Absolute NNN Ground Lease with No Landlord Responsibilities
- Corporate Guaranty, 4,000+ Locations in 48 States
- JAB Holding Acquired Panera in 2017 for $7.5 Billion
- 19-Year Operating History at this Location, Proven Concept in the Trade Area
- High-Quality Construction with a Drive-Thru and Curbside Pickup, Drive-Thru Locations Generate 30%-60% Higher Sales
- Strong Unit-Level Sales, 4% Rent-to-Sales Ratio
- Serving a Large Trade Area of Over 100,000 Residents, 57 Miles North of Downtown Indianapolis
- Adjacent to Chrysler's 3.1 Million SF Transmission Plant with 4,031 Employees, Chrysler Recently Invested $400 Million to Transform Plant
- Outparcel to Recently Redeveloped Kokomo Town Center Anchored by Gabe's and AMC Showplace 12
- Across from Regional Power Center Anchored by Kohl's, TJ Maxx, Old Navy, Petco, and ULTA
- Down the Street from Markland Mall Anchored by Target, Ross, Dunham's Sports, Petsmart, Party City, Books-a-Million, and ALDI
- Immediate Proximity to Walmart, Sam's Club, Meijer, Menards, Hobby Lobby, Bed Bath and Beyond, and Best Buy
- Hard Corner Location at Signalized Intersection with Over 52,400 Cars/Day, In the Heart of Regional Retail Hub
- Strong Daytime Population, Over 38,000 Employees within a 5-Mile Radius
- Minutes to Community Howard Regional Health (1,058 Employees) and Ascension St. Vincent Kokomo (850 Employees)
- 1/2 Mile to Indiana University Kokomo with 4,106 Students and Surrounded by Several K-12 Schools
- Close Proximity to the 4,000-Seat Kokomo Municipal Stadium, the 35-Field Wildcat Creek Soccer Complex, and New Championship Park with Eight Baseball/Softball Fields
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