Panera Bread — Sale in Michigan City, IN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Michigan City, IN 46360

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Panera Bread — Sale in Michigan City, IN, photo 1 of 2
Panera Bread — Sale in Michigan City, IN, photo 2 of 2

Investment Figures

Cap rate
5.50%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the opportunity to acquire the Panera Bread located at 5673 South Franklin Street in Michigan City, Indiana. The property is offered at $3,209,000, representing a 5.50% cap rate on current annual rent of $176,492. At closing, the property will be subject to a brand-new 15-year NNN lease, with 10% rental increases every five years throughout the initial term and four additional five-year renewal options. The 4,500-square-foot freestanding building was constructed in 2013 on approximately one acre and features a modern Panera prototype with a drive-thru. The franchisee has operated at this location for approximately 12 years, providing an established operating history at the site. The restaurant is operated by Manna Development Group, one of Panera Bread’s largest franchisees, with approximately 160 Panera cafés across 11 states, and the lease is guaranteed by Hanna Graham Investments. The property is positioned directly along South Franklin Street, Michigan City’s primary retail corridor, with convenient access to Interstate 94 and other major regional thoroughfares. The surrounding trade area includes a substantial concentration of national retailers and restaurants. Michigan City is LaPorte County’s primary economic hub, benefiting from Lake Michigan tourism, regional connectivity and a broad retail base. The surrounding trade area includes approximately 41,923 residents within five miles and 52,871 residents within seven miles, with an average household income of approximately $82,032 within seven miles. This offering is also available as part of a three-property Panera Bread offering, with additional 15-year NNN leased locations available in Kelso, Washington and Wyoming, Michigan, which may be acquired separately. Investment Highlights: • Brand-New 15-Year NNN Lease commencing upon close of escrow, providing long-term lease duration. • 10% Rental Increases Every Five Years throughout the initial lease term and four five

Market Context

This food service in Michigan City, IN is listed for sale. It is offered at an approximate 5.5% capitalization rate, a key benchmark for income-producing food service assets. Compare it against other food service listings for sale in Michigan City, IN — view the full market.

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