Panera Bread | Top-Tier Performer | NN Corporate Lease
Corporate NN Lease | 6.00% CAP | Lease Through 2033
Marketing description
NX3 Commercial Group is pleased to present the opportunity to acquire a corporate-guaranteed Panera Bread located at 1101 W Bird Boulevard in Peoria, Illinois.
Panera Corporate assumed and extended the lease through December 31, 2033, reinforcing long-term commitment to this established location with over 20 years of successful operating history. The property operates under a double-net (NN) lease structure, limiting landlord responsibilities while delivering stable and predictable cash flow.
Strategically positioned within Peoria’s dominant retail trade area, the asset benefits from strong visibility, established national co-tenancy, and consistent regional consumer traffic. Supported by healthcare systems, higher education institutions, and stable residential demographics, this location offers durable income backed by a nationally recognized brand.
Investment highlights
CORPORATE-GUARANTEED LEASE WITH 20+ YEAR OPERATING HISTORY
Panera Corporate directly assumed the lease from the franchisee and executed a new 10-year term extending through December 2033, signaling strong long-term commitment to this high-performing location. With continuous operations since 2003, this site offers unmatched stability backed by a proven national tenant and the operational track record of a recession-resilient fast-casual brand.
TOP-PERFORMING LOCATION VERIFIED BY PLACER.AI ANALYTICS
This Panera ranks in the 79th percentile nationally across nearly 2,000 stores, confirming its elite status within the brand’s portfolio. With consistent foot traffic growth from 2022 to 2024, according to Placer.ai, this asset reflects strong customer loyalty and resilient performance fundamentals within both the local Peoria market and the national system.
DOUBLE NET LEASE WITH BUILT-IN RENT ESCALATIONS
The lease structure limits landlord responsibilities to foundation, structural supports, and exterior walls, providing minimal management oversight and stronger passive returns. With 10% rental increases every five years—including the next scheduled for January 2029—investors benefit from predictable NOI growth and a projected forward cap rate of 6.60%.
STRATEGIC RETAIL LOCATION WITH EXCELLENT VISIBILITY & ACCESS
Located along West Bird Boulevard, the property sits on ±1.15 acres with a ±5,226 SF building and a drive-thru, drawing from ±19,600 VPD. It is positioned in Peoria’s premier commercial corridor surrounded by national brands such as Dunkin’, Subway, Ace Hardware, Big Lots, Hardee’s, and Goodyear, creating strong synergy and sustained customer flow.
AFFLUENT DEMOGRAPHICS & HEALTHY ECONOMIC BASE
Peoria features average household incomes of $100K+ within a 1-mile radius and is home to major regional employers such as Caterpillar Inc., OSF HealthCare, and Bradley University. The combination of residential density, institutional employment anchors, and consistent consumer demand make this an ideal market for stable, long-term income generation.
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