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Brandon, FL - Panera Bread
11135 Causeway Blvd | Brandon, FL 33511
$3,976,000
Price4.15%
Cap Rate$165,000
NOI4,022
± SF Offering GLA0.9
± AC Land AreaDescription
Brand New 15-Year Sale-Leaseback | Largest Panera Franchisee | 7.50% Rental Increases | Options To Extend
• The tenant will execute a brand-new 15-year sale-leaseback at the close of escrow
• Covelli Enterprises is the largest Panera Franchisee, operating 300+ locations across the country
• CFLP II, LLC (32-Unit Entity) is the guarantor of the lease
• The lease features 7.50% rental increases every five years throughout the initial term and at the beginning of each option
• The lease also includes 4 (5-year) options to extend, demonstrating long-term commitment to the site
Absolute NNN Lease | Fee Simple Ownership | Zero Landlord Responsibilities | No State Income Tax
• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
• Investor benefits from fee-simple ownership of the building and land
• No landlord responsibilities
• Ideal, management-free investment for a passive investor in a state with no state income tax
Location
Fronting Causeway Blvd | Directly Off I-75 | Publix Outparcel | Dense Retail Corridor | Surrounding Big Box Retailers
• Panera Bread is strategically fronting Causeway Blvd (58,600 VPD)
• Directly off I-75 (94,000 VPD), a major North/South highway serving the Eastern United States
• Located as an outparcel to Lake Brandon Plaza, a 200,000 SF Publix anchored shopping center
• Dense retail corridor that includes big box retailers such as Costco, Nordstrom Rack, Walmart Supercenter, Total Wine, and more
Drive-Thru Equipped | Excellent Visibility & Access
• The asset is equipped with a drive-thru, restaurants with drive-thrus typically generate more sales and increase productivity
• Panera Bread benefits from significant street frontage along Causeway Blvd, promoting excellent visibility and ease of access
Strong Demographics In 5-Mile Trade Area
• More than 221,000 residents and 98,000 employees
• Features an average household income of $87,989
Documents & Links
| View | ||
|---|---|---|
 Offering Memorandum |  |  |
Contact
Patrick Nutt
Sr Managing Principal & Co-Head of National Net Lease
954.302.7365954.302.7365[email protected]FL #: BK3120739