4477 Miller Rd
Flint, MI 48507
Retail Property For Sale

Marcus & Millichap is pleased to present this 4,300-square foot Panera Bread in Flint Township, Michigan. Located 36 miles south of Saginaw and 60 miles northwest of Detroit, this Panera Bread has 13 years remaining in the base term of an absolute-net (NNN) lease with three, five-year renewal options. There are escalations in rent of 10 percent every five years, with the next increase in January 2020. The lease is backed with a corporate guaranty from Panera Limited Liability Company, a publicly traded company (NASDAQ: PNRA) that ranks #797 in the Fortune 1000 (2016). Panera Bread is located on Miller Road, a major retail corridor in Flint Township. More than 38,300 vehicles pass by the asset each day. Miller Road has easy access to Interstate 69 and Interstate 75, which have a combined daily traffic count of nearly 150,000 vehicles. The subject property is located across the street from Genesee Valley Center. Genesee Valley Center, which opened in 1970, has 1.27 million square feet of retail space. The mall has four anchor stores: Burlington Coat Factory, J.C. Penney, Macy' s, and Sears. It comprises more than 120 tenants, including a food court, and an external concourse called the Outdoor Village which also features a Barnes & Noble bookstore. Genesee Crossing is down the street, which features tenants such as Target, PetSmart, Party City, Old Navy, and ULTA, among others. The asset is in close proximity to Bishop International Airport and the General Motors Flint Assembly and Engine Operations plants.