Listed by SURMOUNT, Marcus & Millichap - Fort Lauderdale, Marcus & Millichap - Atlanta
$3,476,040
Panera Bread
Details
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 3,200
Cap Rate 5%
NOI $173,802
Occupancy 100%
Tenancy Single
Brand/Tenant Panera Bread
Lease Type NNN
Lease Term 15
Remaining Term 15
Rent Bumps Yes
Lease Options 4,5 - Year Options
Year Built 2025
Acreage 1.180
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No
About This Property
Marketing description
Surmount and Marcus & Millichap are pleased to present the exclusive listing for a Panera Bread located at 6741 Courthouse Landing Lane, Richmond, VA 23237. The site consists of roughly 3,200 rentable square feet of building space on an estimated 1.18-acre parcel of land. This Panera Bread is subject to a 15-year Triple Net (NNN) lease which will commence upon close of escrow. The annual rent will be $173,802 and has scheduled increases of 8.00% every 5 years.
Investment highlights
- Brand New 15-Year NNN Lease with 8% Increases | The subject property is secured by a brand new 15-year Triple Net (NNN) lease with Panera Bread, featuring strong 8% rental increases every 5 years and four 5-year renewal options, providing long-term income growth and stability for investors.
- Brand New Construction - Store Opened Q4 2025 | Brand-new, ground-up Panera Bread positioned within a rapidly expanding commercial corridor. Recent development activity (see the link above) highlights the area’s accelerating growth, rising consumer demand, and strong long-term value trajectory.
- Affluent and Expanding Demographics | More than 385,000 people reside within a 10-mile radius, with average household income exceeding $92,000. The area is projected to grow by nearly 3% over the next five years.
- Corporate Guarantee from Panera Bread | The lease is guaranteed by Panera LLC, one of the most well-recognized and established fast-casual dining concepts in the United States, providing strong credit backing for the investment.
- Located Within the Brand New Courthouse Landing Development | The subject property is part of Courthouse Landing, a newly developed mixed-use project in Richmond, VA, featuring national retailers, restaurants, hotels, and residential units, providing excellent visibility and long-term demand for investors (see link above to drone video).
- Proximity to Schools and Hospitals | Nearby educational institutions include Lloyd C Bird High School (3,427 students) and Salem Church Middle and Elementary Schools (combined 1,381 students), along with major healthcare facilities like HCA Virginia Health and Bon Secours.
Listing Contacts
Listed by SURMOUNT, Marcus & Millichap - Fort Lauderdale, Marcus & Millichap - Atlanta
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$173,802.00
$14,483.50/mo
Valuation Metrics
0
DSCR
5%
Cap Rate
5%
ROI
Map
Zoning
CC CommercialSpecial CommercialCorridor Commercial
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View all 225 uses Last updated Feb 12, 2026 For deeper zoning details, reports are available at Zoneomics
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