Panera Bread | Indianapolis MSA

900 East McGalliard Road, Muncie, IN




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 900 E. Highway 80 in Muncie, IN. 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 $151,238 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.

Broker of Record
Josh Caruana
License: RB14034355

  • 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
  • Dense Retail Corridor | Target, Dick’s Sporting Goods, Walgreens, CVS Pharmacy, Aldi, McDonald’s, Wendy’s, Burger King, as well as Many Others
  • Strong Traffic Counts | Over 31,560 Vehicles Per Day Along E. McGalliard Road