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Panera Bread
John [email protected] | (415) 274-2715 CA BRE# 01440360
For more info on this opportunity please contact:
In conjunction with OH Licensed Broker: Tim Alboro, Crest Commercial Realty 937 222-1600 Ext. 104 [email protected]
Capital Pacific collaborates. Click here to meet the rest of our San Francisco team.
Absolute triple netasset in affluent suburb11 n Main Street Centerville, oh 45459
riCk [email protected] | (415) 274-2709 CA BRE# 01792433
BoB [email protected] | (415) 274-2717 CA BRE# 00869657
ChriS [email protected] | (415) 274-2701CA BRE# 01002010
Investment HighlightsFREE-STANDING, ABSOLUTE NET PANERA BREAD GUARANTEED
BY THE FOURTH LARGEST RESTAURANT FRANCHISEE IN THE COUNTRY
The subject property is located in Centerville, OH which is a part of the Dayton metropolitan area. Approximately 15 miles from Dayton, OH, Centerville is
strategically located on I-675, less than 1 mile east of I-75 and 15 miles south of I-70, near major industrial centers of Dayton, Cincinnati, and Columbus.
renTABLe SF . . . . 5,400 SF
LeASe TYPe . . . . . . NNN
YeAr BUiLT . . . . . . 2006
PRICE: $3,154,006CAP: 6.65%
LoCATion hiGhLiGhTS
Located on the main thoroughfare in town, retailers in immediate vicinity include Sam’s Club and Chipotle
Traffic counts on Main Street exceed 24,900 vehicles per day
STronG deMoGrAPhiCS
Affluent suburb with more than 143,500 people within a 5-mile radius
Average household incomes in a 5-mile radius exceed $81,000
TenAnT hiGhLiGhTS Fourth largest restaurant franchisee in the United States and the largest franchisee in the Panera Bread system - operates over 250+ locations in North America (guarantor has approximately 50 units)
Based in Ohio with 25,000+ employees
LeASe hiGhLiGhTS
Absolute net lease – no landlord responsibilities
7 years remaining and 10% rental increases in option periods
Panera Bread | 2
47,5
00 D
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Miamisburg
Centerville road
Lyons road
Maue road
n M
ain
Stre
etFa
r hill
s Av
enue
W Spring Valley road
W Franklin Street e Franklin Street
e Spring Valley road
Yank
ee S
treet
Yank
ee S
treet
n S
prin
gbor
o Pi
ke
n S
prin
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Mad river r
oad
W Alex Bell road
675
675
675
75
75
725
725
725
741
741
725
48
48
725
PIPESTONE GOLF COURSE
Stingley elementary
incarnation Catholic School
Wo Cline elementary
Centerville high School
Tower heights Middle School
hadley e Watts Middle School
Magsig Middle School
Miamisburg Senior high School
norMAndY SQUAre
H&R BLOCK
SoUTh ToWne CenTre
SoUThLAnd 75 CenTer
dAYTon MALL
MALL WoodS
MAd riVer STATion
CroSS PoinTe
CenTerViLLe PLACeDAYTON
24,9
00 D
AIL
Y
18,690 DAILY
hiGh TrAFFiC CoUnTS
Daily traffic of over 43,500 at the intersection of W Franklin Street and Far Hills Avenue
Panera Bread | 3
This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
Income & Expense
Surrounding retail
PRICE $3,154,006
Price Per Square Foot: $584.08
Capitalization Rate: 6.65%
Total Rentable Area (SF): 5,400
Year Built: 2006
STABILIZED INCOME Per Square Foot
Scheduled Rent $38.84 $209,741
Effective Gross Income $38.84 $209,741
LESS Per Square Foot
Taxes NNN $0.00
Insurance NNN $0.00
Total Operating Expenses $0.00
EQUALS NET OPERATING INCOME $209,741
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This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.
Rent Roll
TenAnT inFo LeASe TerMS renT SUMMArY
Tenant Name Sq. Ft. Term Current Rent
Monthly Rent
Yearly Rent
Monthly Rent/FT
Yearly Rent/FT
Panera 5,400 9/1/06 8/31/11 $173,340 $14,445 $173,340 $2.68 $32.10
9/1/11 8/31/16 $190,674 $15,890 $190,674 $2.94 $35.31
9/1/16 8/31/21 $209,741 $17,478 $209,741 $3.24 $38.84
Option 1 9/1/21 8/31/26 $230,716 $19,226 $230,716 $3.56 $42.73
Option 2 9/1/26 8/31/31 $253,787 $21,149 $253,787 $3.92 $47.00
Option 3 9/1/31 8/31/36 $279,166 $23,264 $279,166 $4.31 $51.70
Option 4 9/1/36 8/31/41 $307,082 $25,590 $307,082 $4.74 $56.87
Option 5 9/1/41 8/31/46 $337,791 $28,149 $337,791 $5.21 $62.55
Totals: 5,400 $190,674 $15,890 $190,674 $2.94 $35.31
Panera Bread | 5
ABOUT PANERA BREADPanera Bread is a bakery-café chain that is a fast, casual restaurant in the United States and Canada. Headquartered in Sunset Hills, Missouri, which is a suburb of St. Louis, and operates as Saint Louis Bread Company in the St. Louis metropolitan area. The company operates or franchises 1,800 Panera Bread bakery-cafés in 40 states and 20 facilities that deliver fresh dough to the bakery-cafés daily. With approximately 40,000+ employees, Panera Bread’s revenue has continually been on the rise and reached $2.83 Billion in 2013.
ABOUT THE OPERATORCovelli Enterprises is headquartered in Warren, OH and currently employs over 25,000 people. The company is the single largest franchisee of Panera Bread and O’Charley’s Restaurants and was recently named the 4th largest restaurant franchisee in the nation. In May 2012, Covelli was the first Panera Bread franchisee to take the concept internationally with a record-breaking opening in Toronto, Canada. Covelli Enterprises owns and operates more than 250 Panera Bread locations.
about tHe guarantorthe guarantor of the lease has approximately 50 stores in this entity.
nUMBer oF eMPLoYeeS 40,000+2013 reVenUe $1.72 BILLIONnUMBer oF LoCATionS 1,800
Panera Bread
AS OF SEPTEMBER 30, 2014, THERE ARE 1,845 BAkERY-CAFES IN 45
STATES AND IN ONTARIO CANADA
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Regional Map Centerville Location
Part of the Dayton M
SA
PANERA BREAD
TRAFFIC COUNTS IN ExCESS
OF 43,500 AT INTERSECTION
Centerville
DAYTON
Centerville is just 19 minutes (16 miles) from
dayton
Panera Bread | 7
CenTerViLLe, oh oVerVieW
Centerville is an affluent suburb of Montgomery and Greene Counties in the state of Ohio. Just 16 miles from Dayton, Ohio, Centerville is a part of the Dayton metropolitan area.
The city is located near major industrial centers of Dayton, Cincinnati, and Columbus, strategically positioned on I-675, “the road to everywhere,” less than 1 mile east of I-75 and 15 miles south of I-70. Centerville has a population of approximately 23,974 as of 2012. Home to Ohio’s largest collection of early stone houses, Centerville is listed on the National Register of Historic Places, which draws visitors from near and far.
According to www.safewise.com, Centerville has been rated one of the safest places to live in Ohio, which supports the city’s reputation as a premiere residential community. In recent months, Centerville has been working to expand their residential community to include 85 new home sites between two existing, established neighborhoods: Deer Run and Pleasant Hill.
Centerville is located just 19 minutes from Dayton, OH. Hospitals in the Greater Dayton area have an estimated combined employment of nearly 32,000, a yearly economic impact of $6.8 billion.
Location & Demos
2013 HOUSEHOLD INCOmES
1-Mile 3-Mile 5-Mile
2013 8,972 57,230 143,597
1-Mile 3-Mile 5-Mile
Average $61,869 $86,335 $81,529Median $50,569 $65,147 $60,184
POPULATION
Employer # of Employees*Centerville City School District 970Graceworks Bethany Lutheran Village 620Franciscan at St. Leonard 365City of Centerville 250kroger 230*Approximate
TOP EmPLOYERS IN CENTERVILLE
Dayton, OH
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Copyright © 2014 [Capital Pacific real estate Brokerage Company]
In conjunction with OH Licensed Broker: Tim Alboro, Crest Commercial Realty 937 222-1600 Ext. 104 [email protected]
John [email protected] | (415) 274-2715 CA BRE# 01440360
riCk [email protected] | (415) 274-2709 CA BRE# 01792433
BoB [email protected] | (415) 274-2717 CA BRE# 00869657
ChriS [email protected] | (415) 274-2701CA BRE# 01002010