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Panera Bread - Cleveland (Wadsworth) OH 135 Great Oaks Trl 5,590 SF Retail Building Wadsworth, OH 44281 $2,956,500 ($528.89/SF) 5.75% Cap Rate
Investment Highlights
- Brand New 10-Year Lease | Largest Panera Franchisee (54 Units) | 7.50% Rental Increases | Options To Extend | Drive-Thru Equipped
- Hard Corner Location | Dense Retail Corridor | Surrounding Big Box Retailers
- Demographics In 5-Mile Trade Area | Akron MSA
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Excellent Visibility From I-76 (51,200 VPD) | Outparcel To Great Oaks Shopping Center | Wadsworth Crossings
Executive Summary
• Panera Bread will execute a brand new 10-year lease at the close of escrow
• Dalcan, LLC (54 Panera Bread Stores) is the guarantor of the lease, the largest Panera franchisee (Covelli Enterprises)
• The lease features 7.50% rental increases every five years throughout the initial term and at the beginning of each of the 4 (5-year) options
• The asset is equipped with a drive-thru, allowing for increased customer convenience
• Dalcan, LLC (54 Panera Bread Stores) is the guarantor of the lease, the largest Panera franchisee (Covelli Enterprises)
• The lease features 7.50% rental increases every five years throughout the initial term and at the beginning of each of the 4 (5-year) options
• The asset is equipped with a drive-thru, allowing for increased customer convenience
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,590 SF
Building Class
B
Year Built
2011
Price
$2,956,500
Price Per SF
$528.89
Cap Rate
5.75%
NOI
$170,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.90 AC
Zoning
C-4 - Highway Interchange Commercial District
Parking
62 Spaces (11.09 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Freeway Visibility
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 040-20A-06-044 | Improvements Assessment | $370,850 |
| Land Assessment | $94,830 | Total Assessment | $465,680 |
Property Taxes
Parcel Number
040-20A-06-044
Land Assessment
$94,830
Improvements Assessment
$370,850
Total Assessment
$465,680
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Panera Bread - Cleveland (Wadsworth) OH | 135 Great Oaks Trl
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