Panera Bread

408 New York 3, Plattsburgh, NY




Cap Rate



Cap Rate
Building Size
5,460 sqft
Lot Area
1.41 acres
Lease Type
Triple Net
Year Built
Construction Status
Opening November 2019
Lease Expire Year
15 Years Upon COE

Marcus & Millichap is pleased to present the exclusive listing for a brand-new Panera Bread located at 408 Route 3 in Plattsburgh, New York. This is a rare investment opportunity to participate in a direct sale leaseback with Panera Bread. The newly constructed site will consist of roughly 5,460 rentable square feet of building space on estimated 1.41-acre parcel of land. The café is scheduled to open in November of 2019.

Panera, LLC, the corporate operating entity, will enter into a brand new 15-year triple-net (NNN) sale leaseback with the purchaser upon close of escrow. The initial annual rent will be $185,032 and will increase by eight percent (8.0%) every five (5) years throughout the term of the lease and in each option period. There will be four (4), five (5)-year tenant renewal options, extending the total possible lease term to 35 years.

John Krueger
Marcus &Millichap REIS of New Y
License: 10311205789

  • Brand New Construction; Opening November 2019!
  • Long-Term, 15-Year Absolute Triple Net (NNN) Lease
  • Lease Commencement Upon Close of Escrow
  • Eight Percent (8.0%) Rental Increases Every Five (5) Years
  • Four (4), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 35 Years
  • Corporate Tenant | Corporate Guarantee
  • Located in the Heart of Plattsburgh’s Main Retail Corridor | Walmart Supercenter, Lowe’s, Sam’s Club, Walgreens, Target,, Aldi, Price Chopper-Market 32, McDonald’s, Chick-fil-A, Burger King, and Many More
  • Strong Traffic Counts | NY-3 and Interstate-87 | Approximately 29,500 and 30,200 Vehicles Per Day, Respectively
  • Plattsburgh International Airport | Less than Six Miles from Subject
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