115 Towne Dr, Elizabethtown, KY 42701
Marcus & Millichap is pleased to present the broker opinion of value for a Panera Bread located at 115 Towne Drive, in Elizabethtown, Kentucky. Built in 2006, the site consists of roughly 4,577 rentable square feet of building space on an estimated 1.02-acre parcel of land.
This investment property is subject to a 15-year triple-net NNN lease, which commenced on February 7th, 2006. The tenant recently exercised the first renewal option, extending the current term out to December 31st, 2026. The current annual rent is $144,800, which is set to increase to $155,400 in January 2022. In connection with COVID-19, the Tenant received a 1.5-month deferral of base rent. This deferred rent is being paid back in monthly installments of$1,508.33 throughout all of 2021. Additionally, there are currently two (2), five (5)-year tenant renewal options remaining, extending the total possible lease term to 30 years.
License(s): KY: 242197
Kentucky
Marcus & Millichap is pleased to present the broker opinion of value for a Panera Bread located at 115 Towne Drive, in Elizabethtown, Kentucky. Built in 2006, the site consists of roughly 4,577 rentable square feet of building space on an estimated 1.02-acre parcel of land.
This investment property is subject to a 15-year triple-net NNN lease, which commenced on February 7th, 2006. The tenant recently exercised the first renewal option, extending the current term out to December 31st, 2026. The current annual rent is $144,800, which is set to increase to $155,400 in January 2022. In connection with COVID-19, the Tenant received a 1.5-month deferral of base rent. This deferred rent is being paid back in monthly installments of$1,508.33 throughout all of 2021. Additionally, there are currently two (2), five (5)-year tenant renewal options remaining, extending the total possible lease term to 30 years.
License(s): KY: 242197
Kentucky
