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Panera Bread 350 Mary Esther Blvd 4,662 SF Retail Building Mary Esther, FL 32569 $2,700,000 ($579.15/SF) 6.60% Cap Rate
INVESTMENT HIGHLIGHTS
- 2008 Build to Suit for Panera Bread | Outparcel to Santa Rosa Mall With Drive-Thru and Outdoor Seating | 4,662-SF Building on a +/-0.53 Acre Parcel
- Corporately Guaranteed Lease | Property Features a Drive Thru With Separate Exit, Outdoor Patio Seating and a Large Parking Lot With 20 Total Spaces
- High Visibility Along Mary Esther Blvd on a Hard, Signalized Corner With a Dedicated Turn Lane and Access From Both Traffic Directions | 24,500+ VPD
- 3+ Years Remaining on an Absolute Net Ground Lease | No Landlord Responsibilities | 10% Rental Increases in Each of Three, 5-Year Renewal Options
- Two Points of Ingress and Egress | Outparcel to Santa Rosa Mall in a Dense Retail, Office and Residential Corridor | Mall is Undergoing Development
- Proximity to Multiple National Tenants Including Starbucks, Target, McDonald’s, Planet Fitness, Subway, Smoothie King, Piggly Wiggly, & More
EXECUTIVE SUMMARY
2008 BUILD TO SUIT | NNN GROUND LEASE | OUTPARCEL TO SANTA ROSA MALL
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,662 SF
Building Class
B
Year Built
2008
Price
$2,700,000
Price Per SF
$579.15
Cap Rate
6.60%
NOI
$178,065
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
0.53 AC
Parking
20 Spaces (4.29 Spaces per 1,000 SF Leased)
Frontage
168’ on Mary Esther Blvd
AMENITIES
- Drive Thru
- Wheelchair Accessible
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 16-2S-24-0000-0001-001U | Improvements Assessment | $529,232 |
| Land Assessment | $572,804 | Total Assessment | $1,102,036 |
PROPERTY TAXES
Parcel Number
16-2S-24-0000-0001-001U
Land Assessment
$572,804
Improvements Assessment
$529,232
Total Assessment
$1,102,036
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Panera Bread | 350 Mary Esther Blvd
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