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Restaurant

Panera Bread

34180 Monterey Ave, Palm Desert, CA 92211

Listing Price: $3,275,425

Cap Rate
4.00%
Tenant Name
Panera LLC
Years Remaining On Lease
8.2
Guarantor
Corporate Guarantee
Rentable SF
4,200
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$31.19

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Panera Bread located at 34180 Monterey Avenue in Palm Desert, CA. The property will consist of roughly 4,200 rentable square feet of building space on an estimated 1.20-acre parcel of land. The subject investment property is subject to a 15-year triple-net (NNN) ground lease, which commenced on October 7, 2014. The current annual rent is$131,017 and increases by eight percent (8.0%) every five (5) years throughout the term of the lease and in each option period. There will be four (4), five (5)-year tenant renewal options, extending the total possible lease term to 35 years.

Investment Highlights

  • Absolute Triple-Net (NNN) Lease – Eight (8) Years Remaining
  • Eight Percent (8.0%) Rental Increases Every Five (5) Years
  • Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 35 Years

Exclusively Listed By

Broker of Record

  • Enrique Wong

    First Vice President Investments

    (213) 943-1850

    License(s) CA: 01172596

    California

Listing Price: $3,275,425

Cap Rate
4.00%
Tenant Name
Panera LLC
Years Remaining On Lease
8.2
Guarantor
Corporate Guarantee
Rentable SF
4,200
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$31.19

Investment Highlights

  • Absolute Triple-Net (NNN) Lease – Eight (8) Years Remaining
  • Eight Percent (8.0%) Rental Increases Every Five (5) Years
  • Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 35 Years

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Panera Bread located at 34180 Monterey Avenue in Palm Desert, CA. The property will consist of roughly 4,200 rentable square feet of building space on an estimated 1.20-acre parcel of land. The subject investment property is subject to a 15-year triple-net (NNN) ground lease, which commenced on October 7, 2014. The current annual rent is$131,017 and increases by eight percent (8.0%) every five (5) years throughout the term of the lease and in each option period. There will be four (4), five (5)-year tenant renewal options, extending the total possible lease term to 35 years.

Exclusively Listed By

Broker of Record

  • Enrique Wong

    First Vice President Investments

    (213) 943-1850

    License(s): CA: 01172596

    California

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