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Panera Bread Ground Lease, Bradenton, FL

Panera Bread Ground Lease

Price $3,645,000
Cap Rate 4.50% return
NOI $164,000
Lease Term 15 years
Lease Type NNN ground lease, with tenant responsible for taxes, insurance, and maintenance, including roof, structure, and parking lot
Rental Increases 10% rental increases every five (5) years
Year Built 2019
Building Size 4,477 SF
Lot Size 0.87 acres (37,679 SF)
Status Available
Lead Broker Information Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

15-YEAR NNN GROUND LEASE WITH RENTAL INCREASES
» New 15-year ground lease to corporate tenant with strong brand recognition
» 10% rental increases every five years, providing a hedge against inflation
» Absolute NNN lease requires no landlord management, ideal for an out-of-area investor

HIGH-TRAFFIC LOCATION IN DENSE RETAIL CORRIDOR
» Excellent visibility and access to 28,000 vehicles per day at the intersection of Manatee Avenue and 63rd Street West
» Manatee Avenue provides convenient access to nearby beaches and the affluent community of Anna Maria Island, and the road serves as Bradenton’s primary retail corridor
» Outparcel to Fountain Court, a large power center anchored by Bealls and Planet Fitness, and featuring well-known tenants like Dollar General, Bayside Community Church, Cricket Wireless, Pizza Hut, Sally Beauty Supply, and more
» Within walking distance of several major shopping centers
» Notable retailers in the nearby area include The Fresh Market, Winn-Dixie, Publix, Staples, Petco, Well Fargo, Bank of America, Ace Hardware, Sprint, and AutoZone, amongst many others

CENTRAL LOCATION WITH STRONG DEMOGRAPHICS
» Located a short distance from several schools, including Palma Sola Elementary School (617 students), Manatee High School (2,302 students), Saint Stephen’s Episcopal School (691 students), and Martha B. King Middle School (1,101 students)
» Near the 383-bed Blake Medical Center, which has 934 employees
» Close to popular recreational areas, like beaches and golf courses
» Surrounded by densely populated residential neighborhoods, with 134,844 people living within a five-mile radius

NEW 2019 CONSTRUCTION
» New building, limiting near-term deferred maintenance or capital costs
» Features dedicated drive-thru, providing additional customer convenience and boosting sales revenue



Property Description

The property is strategically located at the intersection of Manatee Avenue and 63rd Street West, with excellent visibility and access to 28,000 vehicles per day directly in front of the property. Manatee Avenue provides convenient access to nearby beaches and the affluent community of Anna Maria Island, and the road serves as Bradenton’s primary retail corridor. The property is outparcel to Fountain Court, a large power center anchored by Bealls and Planet Fitness, and featuring well-known tenants like Dollar General, Bayside Community Church, Cricket Wireless, Pizza Hut, Sally Beauty Supply, and more. The property is also within walking distance of several major shopping centers, and notable retailers in the nearby area include The Fresh Market, Winn-Dixie, Publix, Staples, Petco, Well Fargo, Bank of America, Ace Hardware, Sprint, and AutoZone, amongst many others.

The property is centrally located a short distance from several schools, including Palma Sola Elementary School (617 students), Manatee High School (2,302 students), Saint Stephen’s Episcopal School (691 students), and Martha B. King Middle School (1,101 students). Also located nearby is the 383-bed Blake Medical Center, which has 934 employees. The property is close to popular recreational areas, like beaches and golf courses. Additionally, the property is surrounded by densely populated residential neighborhoods, with 134,844 people living within a five-mile radius.

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