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Panera Bread & Mattress Firm | Minot, ND 1807 22nd Ave SW 8,114 SF 100% Leased Retail Building Minot, ND 58701 $3,860,000 ($475.72/SF) 7% 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
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- 3,004 SF
- -
- Triple Net
- Oct 2031
Mattress Firm is a U.S.-based mattress and sleep products retailer headquartered in Houston, Texas. Founded in 1986, the company began with a single store and expanded steadily through acquisitions, franchise development, and continued retail growth. Mattress Firm operates thousands of locations across the country offering mattresses, adjustable bases, bedding accessories, and related sleep solutions. The organization’s headquarters manages strategic planning, corporate operations, supply chain functions, merchandising, marketing, and customer service.
-
- Accommodation and Food Services
- 5,110 SF
- -
- Triple Net
- Dec 2033
Panera began in 1987 as St. Louis Bread Company, a humble community bakery founded with a sourdough starter from San Francisco and a dream of putting a loaf of bread in every arm. While Panera's business has expanded well beyond St. Louis since then, that same sourdough starter is still used in their iconic sourdough bread and the craft of baking bread fresh each day remains at the heart of Panera Bread. Each day their trained bakers fill their bakery shelves with delicious freshly baked cookies, pastries, bagels, and a range of breads from focaccia to classic baguettes. Panera Bread is privately held by JAB Holding Company. Panera Bread is part of Panera Brands, one of the largest fast casual restaurant platforms in the U.S., comprised of Panera Bread®, Caribou Coffee® and Einstein Bros.® Bagels.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 3,004 SF | - | Triple Net | Oct 2031 | |
|
|
Accommodation and Food Services | 5,110 SF | - | Triple Net | Dec 2033 |
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
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Panera Bread & Mattress Firm | Minot, ND | 1807 22nd Ave SW
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