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Restaurant

Panera Bread Temecula

41793 Nicole Ln, Temecula, CA 92591

Listing Price: $4,519,059

Cap Rate
4.25%
Tenant Name
Panera Bread
Years Remaining On Lease
4.4
Guarantor
Corporate Guarantee
Rentable SF
4,850
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$39.60

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee-simple interest (land and building) in a free standing, triple-net, corporate guaranteed Panera Bread investment property with minimal landlord responsibilities located in Temecula, CA. The tenant recently exercised a five – year extension and has two-(five) year options to extend, demonstrating their commitment to the site. The lease features a rare seven percent increase at the beginning of the second year during the initial term. The Panera Bread compromises of approximately 4,850 square feet of building situated upon 64,904 square feet of land. The subject is located near the signalized, harder corner intersection of Nicole Lane & Overland Drive, averaging over 32,000 vehicles passing by daily. The subject property is in close proximity to Interstate 15 (169,000 Vehicles Per Day), a major highway serving the San Bernardino, Riverside and San Diego Counties. The site benefits from several major daily market drivers positioned directly across from a Costco, Promenade Temecula, a 1.4 Million square feet shopping mall anchored by J.C. Penney, Macy’s, Apple and Regal Cinemas as well as Mt. San Jacinto Community College campus providing a direct consumer draw. In addition, the subject property is located in a dense retail corridor, nearby national/credit tenants which include Costco Wholesale, Lowe’s, Target, Vons, CVS, Chase, McDonald’s, In-N-Out, Starbucks, 7-Eleven, Trader Joes and more, significantly increasing consumer traffic to the subject area. Less than 0.5 miles west of the subject is also over 11 Million square feet of dense and vibrant industrial office/R&D/Flex/Medical along Enterprise Circle and the I-15. The five-mile trade area is supported by a dense population of over 177,000 residents and an average household income of $114,788.

Investment Highlights

  • Corporate Guaranteed – NNN Lease with Minimal Landlord Responsibilities (Roof / Structure)
  • Fee Simple Interest – Land and Building – 2012 Construction
  • New Five Year Extension – Rare Seven Percent Increase in Year Two of the New Term
  • Two-(Five) Year Options To Extend – Option One at 10 Percent Increase – Option Two at FMV
  • Near Signalized Hard Corner with Excellent Access and Visibility – Across from College Campus
  • Close Proximity to Interstate 15 (169,000 Vehicles Per Day) & Promenade Temecula (169,000 Square Feet)
  • Prominent Retail and Medical / R&D Corridor – Large National /Credit Tenant Presence
  • Strong Five-Mile Demographics in Trade Area with 177,000 Residents with Average Household Income of $114,788

Exclusively Listed By

Financing By

Listing Price: $4,519,059

Cap Rate
4.25%
Tenant Name
Panera Bread
Years Remaining On Lease
4.4
Guarantor
Corporate Guarantee
Rentable SF
4,850
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$39.60

Investment Highlights

  • Corporate Guaranteed – NNN Lease with Minimal Landlord Responsibilities (Roof / Structure)
  • Fee Simple Interest – Land and Building – 2012 Construction
  • New Five Year Extension – Rare Seven Percent Increase in Year Two of the New Term
  • Two-(Five) Year Options To Extend – Option One at 10 Percent Increase – Option Two at FMV
  • Near Signalized Hard Corner with Excellent Access and Visibility – Across from College Campus
  • Close Proximity to Interstate 15 (169,000 Vehicles Per Day) & Promenade Temecula (169,000 Square Feet)
  • Prominent Retail and Medical / R&D Corridor – Large National /Credit Tenant Presence
  • Strong Five-Mile Demographics in Trade Area with 177,000 Residents with Average Household Income of $114,788

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee-simple interest (land and building) in a free standing, triple-net, corporate guaranteed Panera Bread investment property with minimal landlord responsibilities located in Temecula, CA. The tenant recently exercised a five – year extension and has two-(five) year options to extend, demonstrating their commitment to the site. The lease features a rare seven percent increase at the beginning of the second year during the initial term. The Panera Bread compromises of approximately 4,850 square feet of building situated upon 64,904 square feet of land. The subject is located near the signalized, harder corner intersection of Nicole Lane & Overland Drive, averaging over 32,000 vehicles passing by daily. The subject property is in close proximity to Interstate 15 (169,000 Vehicles Per Day), a major highway serving the San Bernardino, Riverside and San Diego Counties. The site benefits from several major daily market drivers positioned directly across from a Costco, Promenade Temecula, a 1.4 Million square feet shopping mall anchored by J.C. Penney, Macy’s, Apple and Regal Cinemas as well as Mt. San Jacinto Community College campus providing a direct consumer draw. In addition, the subject property is located in a dense retail corridor, nearby national/credit tenants which include Costco Wholesale, Lowe’s, Target, Vons, CVS, Chase, McDonald’s, In-N-Out, Starbucks, 7-Eleven, Trader Joes and more, significantly increasing consumer traffic to the subject area. Less than 0.5 miles west of the subject is also over 11 Million square feet of dense and vibrant industrial office/R&D/Flex/Medical along Enterprise Circle and the I-15. The five-mile trade area is supported by a dense population of over 177,000 residents and an average household income of $114,788.

Exclusively Listed By

Financing By

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