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160 Coolridge St 4,116 SF Retail Building Hendersonville, NC 28792 $3,662,470 ($889.81/SF) 5.75% Cap Rate
Investment Highlights
- Irreplaceable Market Positioning – Property is situated along the prime retail corridor in the city with daily traffic counts that exceed ±36,000 VPD
- Long Term Lease – With approximately ±10 years remaining on the Panera Bread lease, investors benefit from extended income certainty
- Nationally Recognized Tenant – Panera Bread is a nationally known fast-casual brand with over 2,000 locations nationwide
- On-Site Tesla Ev Chargers – The property features 12 on-site Tesla Superchargers that contribute directly to NOI, providing an additional diversified
- Proximity To National Tenants – Property is strategically located in the city’s main retail corridor with proximity to national retailers
- Strong Guaranty From Largest Panera Bread Franchisee – Covelli Enterprises is recognized as one of the best Panera Bread franchisees in the country
Executive Summary
Broker of Record
Gerard Hamas | Broker Lic. No.: 362768 (NC) Firm Lic. No.: C42113 (NC)
Matthews Real Estate Investment Services, Inc
1600 West End Ave., Ste. 1500 Nashville, TN 37203
(866) 889-0550
Gerard Hamas | Broker Lic. No.: 362768 (NC) Firm Lic. No.: C42113 (NC)
Matthews Real Estate Investment Services, Inc
1600 West End Ave., Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
4,116 SF
Building Class
B
Year Built
2020
Price
$3,662,470
Price Per SF
$889.81
Cap Rate
5.75%
NOI
$210,588
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.10 AC
Opportunity Zone
Yes
Zoning
C-3 - Commercial
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Accommodation and Food Services
- -
- -
- -
Panera Bread began in 1987 with the opening of its first bakery-cafe, built around a sourdough starter and a bakery-cafe format that helped define fast casual dining. The company serves a menu centered on baked goods, sandwiches, soups, salads, coffee, and other complementary items, with dine-in, pickup, delivery, and catering among its service channels. Panera Bread operates a broad bakery-cafe presence in the United States and Canada and continues to position bread and fresh food at the center of its business.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Accommodation and Food Services | - | - | - |
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 9579148906 | Improvements Assessment | $755,700 |
| Land Assessment | $1,742,400 | Total Assessment | $2,498,100 |
Property Taxes
Parcel Number
9579148906
Land Assessment
$1,742,400
Improvements Assessment
$755,700
Total Assessment
$2,498,100
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