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Panera Bread 217 Carmichael Way 2,980 SF Retail Building Chesapeake, VA 23322 $3,548,000 ($1,190.60/SF) 5.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Desirable lease term | New 15-year term
- Drive-thru included | Enhances convenience and sales volume
- Large parcel | 1.30 acres
- Corporate lease | Panera, LLC | 2,200 locations
- Located off Chesapeake Expressway | 39,000 VPD | Strategically located as an outparcel to Target
- Explosive population growth within 1-mile | 191.06% from 2010-2025
EXECUTIVE SUMMARY
Carl Brendes and Ransome Foose of Berkeley Capital Advisors are please to present for sale Panera Bread in Chesapeake, VA. We welcome your review of this attractive investment.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Build to Suit
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,980 SF
Building Class
C
Year Built/Renovated
2009/2025
Price
$3,548,000
Price Per SF
$1,190.60
Cap Rate
5.25%
NOI
$186,250
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.30 AC
Parking
38 Spaces (12.75 Spaces per 1,000 SF Leased)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0730000001773 | Improvements Assessment | $667,100 |
| Land Assessment | $658,100 | Total Assessment | $1,325,200 |
PROPERTY TAXES
Parcel Number
0730000001773
Land Assessment
$658,100
Improvements Assessment
$667,100
Total Assessment
$1,325,200
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Panera Bread | 217 Carmichael Way
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