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Panera Bread - Jacksonville (St Augustine) FL 235 Village Commons Dr 3,435 SF Retail Building Saint Augustine, FL 32092 $4,716,000 ($1,372.93/SF) 4.75% Cap Rate
Investment Highlights
- 12+ Years Remaining | Scheduled Rental Increases | Corporate Signed Lease | Well-Known & Established Tenant
- Parkway Village of St. Johns Outparcel | Tocoi Creek High School | Across From Shoppes at Murabella | Off I-95
- Demographics in 5-Mile Trade Area | Six-Figure Incomes
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities | No State Income Tax
- Jacksonville No. 2 Best Cities to Live in Florida (Forbes) |Jacksonville - Nationally Ranked Population Growth
Executive Summary
• Panera Bread has 12+ years remaining on their current lease with 3 (5-year) options to extend, demonstrating their long-term commitment to the site
• The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation
• The lease is signed by Panera, LLC, a subsidiary of the corporate entity
• Panera Bread, which was acquired by JAC Holding Company in 2017, is a leading quick-casual restaurant brand with 2,218 locations
• The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation
• The lease is signed by Panera, LLC, a subsidiary of the corporate entity
• Panera Bread, which was acquired by JAC Holding Company in 2017, is a leading quick-casual restaurant brand with 2,218 locations
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,435 SF
Building Class
B
Year Built
2023
Price
$4,716,000
Price Per SF
$1,372.93
Cap Rate
4.75%
NOI
$224,050
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.23 AC
Zoning
PD - Planned Development
Parking
40 Spaces (11.64 Spaces per 1,000 SF Leased)
Frontage
131’ on international Golf Pkwy
Amenities
- Corner Lot
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Restaurant
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Number | 028220-0040 | Improvements Assessment | $1,274,620 |
| Land Assessment | $1,071,580 | Total Assessment | $3,179,600 |
Property Taxes
Parcel Number
028220-0040
Land Assessment
$1,071,580
Improvements Assessment
$1,274,620
Total Assessment
$3,179,600
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Panera Bread - Jacksonville (St Augustine) FL | 235 Village Commons Dr
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