Panera Bread | 6050 W 86th St
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Panera Bread 6050 W 86th St
4,587 SF Retail Building Indianapolis, IN 46278 $2,164,228 ($472/SF) 6.15% Cap Rate
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.
Property Facts Under Contract
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
4,587 SF
Building Class
B
Year Built
2008
Price
$2,164,228
Price Per SF
$472
Cap Rate
6.15%
NOI
$133,100
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.29 AC
Zoning
ZO01
Parking
75 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
218 FT on W 86th St
Amenities
- Signage
- Drive Thru
- Air Conditioning
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 49-04-14-113-018.000-600 | Improvements Assessment | $580,100 |
| Land Assessment | $679,200 | Total Assessment | $1,259,300 |
PROPERTY TAXES
Parcel Number
49-04-14-113-018.000-600
Land Assessment
$679,200
Improvements Assessment
$580,100
Total Assessment
$1,259,300
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Panera Bread | 6050 W 86th St
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