1721 East Central Expressway, Killeen, TX, 76543 - Available for Sale

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Corporate Panera Bread Ground Lease

1721 East Central Expressway, Killeen, TX 76543

$2,100,000

4,455 SF | Retail

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Retail Property For Sale - In Contract

Price:
$2,100,000
Building Size:
4,455 SF
Price/SF:
$471.38
Property Type:
Retail
Property Sub-type:
Restaurant
Additional Sub-types:
Free Standing Bldg
Property Use Type:
Net Lease Investment with
10+ years left on lease
Cap Rate:
5%
Tenancy:
Single
Year Built:
2014
Lot Size:
0.83 AC
Listing ID
18592616
Last Updated
48 days ago

Find Out More...

Highlights

  • New 15-Year Absolute Net Corporate Ground Lease Panera Bread with Drive Thru and Outdoor Patio
  • Excellent Exposure along City's Main Traffic Corridor - Over 100,000 Vehicles Per Day
  • Directly Across from 620,000-Square Foot Killeen Mall - City's Busiest Mall Anchored by Dillard's, Sears, and JC Penney
  • Outparcel to The Plaza Hotel - 260,000-Square Foot Hotel with 148 Guestrooms
  • Publicly Traded on NASDAQ - "PNRA" - Net Worth over $820 Million

Description

The subject property is a 4,455 square foot Panera Bread ground lease with drive thru and outdoor patio located in Killen, TX. The property is built-to-suit for Panera Bread who signed a new 15 Year absolute net ground lease with three 5-year renewal options thereafter. Panera Bread Company is a public traded company with a net worth of $821 Million trading on the NASDAQ under the ticker symbol PNRA.

The property is located on the hard corner of South W.S. Young Drive and US Highway 190 W, the city' s main traffic corridor with over 100,000 vehicles per day. Directly across the street from the property is the 620,000 square foot Killeen Mall, a premier shopping mall in Killeen anchored by Dillard' s, Sears, and JC Penney. Killeen Mall, with more than 90 stores including numerous national tenants like Old Navy, Victoria' s Secret, and GAP, receives over 10 million shoppers every year. Panera Bread is an outparcel to The Plaza Hotel, a 260,000 square foot hotel and conference center with 148 guestrooms. The first In-n-Out Burger restaurant in Killeen is set to open down the street from the property on the other side of US Highway 190.

Killeen, Texas, which is located just an hour north of Austin, is home to Fort Hood, the nation' s largest armed forces training and development facility with a supported population of 166,000. Fort Hood is the largest single-site employer in the state of Texas and has a $3.9 billion impact on the community. Killeen/Temple MSA has one of the fastestgrowing economies in the state and is projected to grow 26% over the next five years. There are three college/universities in a 25 mile radius, representing a captive audience of over 27,000 students.

Financial Summary

  • Actual
  • $105,000

Map of 1721 East Central Expressway, Killeen, TX 76543 (Bell County)

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Alvin Mansour
Alvin Mansour

Nationwide Shopping Centers and Single Tenant NNN Investment Sales

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License # CA: 01391653 & 01878011 - TX: 0606255

Asking Price Index Trends for Killeen, TX Retail For Sale

  Jun 14 vs. 3 mo.
prior
Y-O-Y
-
State
$132+3.5%+5.9%

View Killeen Market Trends for other property types for sale or lease. Learn more about the chart info.

Created 3/4/2014
Corporate Panera Bread Ground Lease
  • Retail
  • $2,100,000
  • 4,455 SF