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Panera Bread 1702 E Greenville St 2,615 SF Retail Building Anderson, SC 29621 $3,084,600 ($1,179.58/SF) 5.15% Cap Rate
INVESTMENT HIGHLIGHTS
- HIGH GROWTH UPSTATE SC
- IMMEDIATE NEARBY MARKET DRIVERS
- STRONG CORPORATE GUARANTEE
EXECUTIVE SUMMARY
ATTRACTIVE LEASE FUNDAMENTALS
- 8% rent increase every 5 years and during options periods
- Absolute NNN providing no Landlord Responsibilities
- 15 Year Lease with Three (3) - Five (5) year option periods
STRONG CORPORATE GUARANTEE
- Corporate Guarantee from Panera, LLC
- JAB Holdings acquired Panera, LLC in 2017 for $7.5 billion dollars
- There are over 2,100+ Panera Bread locations operating across the United States and Canada
NEW CONSTRUCTION
- The site is set to open in the fall of 2025, and the property is the tenant’s newest prototype which includes a drive-thru
HIGH GROWTH UPSTATE SC
- Over 25+ colleges and universities in the Upstate region providing ~28K graduates to the workforce each year
- Greenville, SC and the upstate area has had over $11B of capital investment in the trailing 3 years
- 13.5% population growth since 2014
POSITIONED IN DENSE RETAIL NODE
- Fronting E. Greenville St - over 23K Cars per day
- Within a 1-mile radius of the subject site is more than 468K SF of retail space
- Nearby national retailers include: Publix Supermarket, Walmart Neighborhood Market, Dollar Tree, Goodwill, and more
IMMEDIATE NEARBY MARKET DRIVERS
- Just 0.4 miles south of the site is McCants Middle School which has more than 560 students enrolled
- 0.8 Miles south of the site is the NHC Healthcare Anderson Hospital which has around 300 beds and serves as a nursing home and hospital
- 0.8 Miles north of the site is the Anmed Medical Center with over 450 beds for acute care
- 8% rent increase every 5 years and during options periods
- Absolute NNN providing no Landlord Responsibilities
- 15 Year Lease with Three (3) - Five (5) year option periods
STRONG CORPORATE GUARANTEE
- Corporate Guarantee from Panera, LLC
- JAB Holdings acquired Panera, LLC in 2017 for $7.5 billion dollars
- There are over 2,100+ Panera Bread locations operating across the United States and Canada
NEW CONSTRUCTION
- The site is set to open in the fall of 2025, and the property is the tenant’s newest prototype which includes a drive-thru
HIGH GROWTH UPSTATE SC
- Over 25+ colleges and universities in the Upstate region providing ~28K graduates to the workforce each year
- Greenville, SC and the upstate area has had over $11B of capital investment in the trailing 3 years
- 13.5% population growth since 2014
POSITIONED IN DENSE RETAIL NODE
- Fronting E. Greenville St - over 23K Cars per day
- Within a 1-mile radius of the subject site is more than 468K SF of retail space
- Nearby national retailers include: Publix Supermarket, Walmart Neighborhood Market, Dollar Tree, Goodwill, and more
IMMEDIATE NEARBY MARKET DRIVERS
- Just 0.4 miles south of the site is McCants Middle School which has more than 560 students enrolled
- 0.8 Miles south of the site is the NHC Healthcare Anderson Hospital which has around 300 beds and serves as a nursing home and hospital
- 0.8 Miles north of the site is the Anmed Medical Center with over 450 beds for acute care
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,615 SF
Building Class
B
Year Built
2025
Price
$3,084,600
Price Per SF
$1,179.58
Cap Rate
5.15%
NOI
$158,861
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.05 AC
Zoning
GC
Parking
43 Spaces (16.44 Spaces per 1,000 SF Leased)
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Panera Bread
- Retailer
- 2,615 SF
- -
- Triple Net
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Panera Bread | Retailer | 2,615 SF | - | Triple Net | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 148-11-02-004 | Improvements Assessment | $66,810 |
| Land Assessment | $43,340 | Total Assessment | $110,150 |
PROPERTY TAXES
Parcel Number
148-11-02-004
Land Assessment
$43,340
Improvements Assessment
$66,810
Total Assessment
$110,150
CONTACTS
-
David Hoppe -
Ben Olmstead -
Ben McCarter -
Connor Kuchman -
Atlantic Capital Partners
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Panera Bread | 1702 E Greenville St
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