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32470279
32470280

1702 E GREENVILLE ST, ANDERSON, SC 29621-2009

DH
NC NC 288268
Atlantic Capital Partners
BO
NC NC 315015
Atlantic Capital Partners
Listed by Atlantic Capital Partners
$2,942,000
29 days on market
Updated 29 days ago

Panera Bread | Greenville, SC

Details
APN 1481102004
Property Type Retail
Sub Type QSR/Fast Food, Restaurant (+1)
Square Footage 2,729
Net Rentable (SqFt) 2,615
Units 1
Cap Rate 5.4%
NOI $158,861
Occupancy 100%
Tenancy Single
Brand/Tenant IHOP, Jack in the Box (+8)
Lease Term 15
Lease Expiration 07/31/2040
Remaining Term 14.2
Rent Bumps Yes
Lease Options 3 x 5-year options
Class A
Year Built 2025
Stories 1
Acreage 1.050
Investment Type Net Lease
Lease Commencement 08/08/2025
Ground Lease No

5.4% CAP | New Construction | Long Term Lease

Investment highlights

ATTRACTIVE LEASE FUNDAMENTALS

  • 8% rent increase every 5 years and during options periods
  • Absolute NNN providing no Landlord Responsibilities
  • 15 Year Lease with Three (3) - Five (5) year option periods

STRONG CORPORATE GUARANTEE

  • Corporate Guarantee from Panera, LLC
  • JAB Holdings acquired Panera, LLC in 2017 for $7.5 billion dollars
  • There are over 2,100+ Panera Bread locations operating across the United States and Canada

NEW CONSTRUCTION

  • The site is set to open in the fall of 2025, and the property is the tenant’s newest prototype which includes a drive-thru

HIGH GROWTH UPSTATE SC

  • Over 25+ colleges and universities in the Upstate region providing ~28K graduates to the workforce each year
  • Greenville, SC and the upstate area has had over $11B of capital investment in the trailing 3 years
  • 13.5% population growth since 2014

POSITIONED IN DENSE RETAIL NODE

  • Fronting E. Greenville St - over 23K Cars per day
  • Within a 1-mile radius of the subject site is more than 468K SF of retail space
  • Nearby national retailers include: Publix Supermarket, Walmart Neighborhood Market, Dollar Tree, Goodwill, and more

IMMEDIATE NEARBY MARKET DRIVERS

  • Just 0.4 miles south of the site is McCants Middle School which has more than 560 students enrolled
  • 0.8 Miles south of the site is the NHC Healthcare Anderson Hospital which has around 300 beds and serves as a nursing home and hospital
  • 0.8 Miles north of the site is the Anmed Medical Center with over 450 beds for acute care

Listing Contacts

DH
NC NC 288268
Atlantic Capital Partners
BO
NC NC 315015
Atlantic Capital Partners
Listed by Atlantic Capital Partners

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$158,861.00
$13,238.42/mo

Valuation Metrics

0
DSCR
5.4%
Cap Rate
5.4%
ROI

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