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Panera Bread

Palm Desert, California

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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.3275425

Key Details

Price:
$3,275,425
Cap Rate:
4.00%
Annual Rent:
$131,017
Address:
34180 Monterey Avenue , Palm Desert, California 92211
Lease Type:
Triple-Net (NNN)

Lot Size:
120 Acres
Building Size:
4,200 SF
Tenant:
Panera Bread

Broker of record

Enrique Wong

License: 01172596


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