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Panera | Plattsburgh, NY 408 State Route 3 4,373 SF Retail Building Plattsburgh, NY 12901 $3,525,000 ($806.08/SF) 6% Cap Rate

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INVESTMENT HIGHLIGHTS

Single-Tenant Corporate Panera Bread Relocation Store with Drive-Thru
Located 5 Minutes (1.3 Miles) from Plattsburgh’s Largest Employer, UVM Health Network - Champlain Valley Hospital (2,100 Employees)
Great Visibility from NY Highway-3 (30,000+ CPD) and Adjacent to I-87

Corporate Relocation Site with Drive-Thru, Demonstrating the Tenant’s Long-Term Commitment to the Site
Close Proximity to State University of New York-Plattsburgh with 4,417 Students and 1,268 Employees (2024)
Located in the Heart of Plattsburgh’s Main Retail Corridor

EXECUTIVE SUMMARY

Corporate Absolute NNN Lease | Relocation Store with Huge Reported Sales | Main Commercial Hub for the Northern Adirondack Mountains

PROPERTY FACTS

Sale Type

Investment

Property Type

Retail

Property Subtype

Restaurant

Building Size

4,373 SF

Building Class

Year Built

2020

Price

$3,525,000

Price Per SF

$806.08

Cap Rate

NOI

$211,500

Tenancy

Single

Building Height

1 Story

Building FAR

0.09

Lot Size

1.07 AC

Zoning

C - Commercial

Parking

38 Spaces (8.69 Spaces per 1,000 SF Leased)

Frontage

153’ on State Route 3

Drive Thru

Air Conditioning

MAJOR TENANTS

Accommodation and Food Services
-
-
Mar 2035

Panera began in 1987 as St. Louis Bread Company, a humble community bakery founded with a sourdough starter from San Francisco and a dream of putting a loaf of bread in every arm. While Panera's business has expanded well beyond St. Louis since then, that same sourdough starter is still used in their iconic sourdough bread and the craft of baking bread fresh each day remains at the heart of Panera Bread. Each day their trained bakers fill their bakery shelves with delicious freshly baked cookies, pastries, bagels, and a range of breads from focaccia to classic baguettes. Panera Bread is privately held by JAB Holding Company. Panera Bread is part of Panera Brands, one of the largest fast casual restaurant platforms in the U.S., comprised of Panera Bread®, Caribou Coffee® and Einstein Bros.® Bagels.