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Panera Bread 7701 Tidewater Dr 3,500 SF Retail Building Norfolk, VA 23505 $3,150,000 ($900/SF) 5.22% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand new 15-year term
- Less than 10 minutes from the world’s largest naval base| Naval Station Norfolk | 82,000 active-duty personnel | 4,631 acres
- Located inside of dense retail corridor | 3.1M SF within a 2-mile radius
- Corporate Lease | Panera, LLC | 2,173+ locations nationwide | Investment Grade Credit | Baa/BBB+
- Outparcel to Southern Shopping Center | 219,926 SF of prime retail space
- Attractive population density within a 5-mile radius | 228,030 residents
EXECUTIVE SUMMARY
Ransome Foose and Carl Brendes of Berkeley Capital Advisors are pleased to present for sale, Panera Bread in Norfolk, 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
3,500 SF
Building Class
B
Year Built
2024
Price
$3,150,000
Price Per SF
$900
Cap Rate
5.22%
NOI
$164,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.88 AC
Opportunity Zone
Yes
Zoning
Commercial
Parking
40 Spaces (11.43 Spaces per 1,000 SF Leased)
Walk Score®
Very Walkable (80)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 07363908 | Improvements Assessment | $809,500 |
| Land Assessment | $915,500 | Total Assessment | $1,725,000 |
PROPERTY TAXES
Parcel Number
07363908
Land Assessment
$915,500
Improvements Assessment
$809,500
Total Assessment
$1,725,000
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Panera Bread | 7701 Tidewater Dr
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