Panera Bread 6050 W 86th St

Investment Highlights

Panera Corporate Guarantee with Store Renovations Underway Excellent Local and Regional Access/Visibility Affluent Surrounding Area Strong Surrounding Daytime Population - National Headquarters Well located Community Center Outlot

Executive Summary

The subject Panera is a ground lease positioned on 1.29 acres. Panera has operated at the site since 2008. They most recently renewed their lease in 2023 with two remaining five-year options to renew. Tenant is directly responsible for the payment and administration of common area maintenance, real estate taxes, and insurance. There are 10% rent increases in each of the remaining option periods. Panera has commenced a fairly significant renovation at their sole expense with completion in 2024. Panera is located on an outlot to Trader?s Point Shopping Center, a primary retail node serving the northwest side of Indianapolis. Average household incomes are $176,595 within one mile, $128,048 within three miles, and $119,102 within five miles.

• Sale Type    Investment NNN
• Sale Conditions    Ground Lease (Leased Fee) Ground Lease (Leased Fee) Bulk/Portfolio Sale Ground Lease (Leased Fee)
• Property Type    Retail
• Property Subtype    Fast Food Fast Food General Retail Freestanding General Retail Restaurant Fast Food
• Building Size    4,587
• Building Class    B
• Year Built    2008
• Price    2,218,333
• Price Per SF    484
• Cap Rate    6
• NOI    133,100
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.08
• Land Acres    1.29 AC

• Signage
• Drive Thru
• Air Conditioning