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Panera Bread & Mattress Firm | Minot, ND 1807 22nd Ave SW 8,114 SF 100% Leased Retail Building Minot, ND 58701 $3,750,000 ($462.16/SF) 7.20% Cap Rate
Investment Highlights
- Two-Tenant Drive-Thru Investment; Pad to Hobby Lobby and Kohl’s
- Panera Bread Reports Extremely Strong Sales at This Location (Contact Agent for Details)
- Franchisee NNN lease (North Dakota Mattress Ventures, LLC) – Approximately a 9-Unit Guaranty
- Corporate Panera Bread (w/ Drive-Thru): 8 years remaining on a new 10-year NNN lease extension
- Mattress Firm: 6 years remaining after an early 5-year lease extension
- Large Freeway Visible Pylon Sign Providing Excellent Visibility
Executive Summary
Two-Tenant Drive-Thru Investment | New 10-Year Lease Extension with Panera Bread | Early 5-Year Extension with Mattress Firm | Extremely Strong Sales | Signalized Intersection (33,500 CPD)
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
8,114 SF
Building Class
B
Year Built
2014
Price
$3,750,000
Price Per SF
$462.16
Cap Rate
7.20%
NOI
$270,066
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.17
Lot Size
1.07 AC
Zoning
C - Commercial
Parking
50 Spaces (6.16 Spaces per 1,000 SF Leased)
Frontage
116’ on 22nd Ave SW
Amenities
- Pylon Sign
- Signalized Intersection
- Drive Thru
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
Nearby Major Retailers
Property Taxes
| Parcel Number | MI-34D50-000-003-0 | Improvements Assessment | $726,500 |
| Land Assessment | $257,500 | Total Assessment | $984,000 |
Property Taxes
Parcel Number
MI-34D50-000-003-0
Land Assessment
$257,500
Improvements Assessment
$726,500
Total Assessment
$984,000
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Videos
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Panera Bread & Mattress Firm | Minot, ND | 1807 22nd Ave SW
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