36511 Plymouth Road
Retail-Commercial
for Sale
| Catylist Listing ID: |
30797802 |
| Property Subtypes: |
Restaurant
|
| Building Status: |
Under Construction |
| Building Size (RSF): |
4,305 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
1.02 Acres
|
| Sale Price: |
$5,882,353 |
| Unit Price: |
$1,366 PSF |
| Property Use Type: |
Investment |
| Sale Terms: |
Undisclosed |
| Cap Rate: |
4.25% |
| Last Updated: |
9/25/2023 |
Overview / Comments
|
Class A, Build-to-Suit retail building with recently commenced 15-year absolute net lease; with 10.00% rent escalations every five (5) years. Anchored by the University of Michigan, Ann Arbor feeds off its status as a major employment, educational, and cultural hub. The subject asset is situated on one of Ann Arbor’s major retail thoroughfares, adjacent to a newly proposed hotel with nearby tenants including CVS, Chase Bank, Plum Market, and more. The lease is guaranteed by Panera, LLC which is owned by JAB Holding Co. (JAB). Panera Bread Company was acquired by JAB in 2017 and currently boasts an investment grade credit rating of BBB+ / Baa1 per S&P and Moody’s, respectively. The property is optimally situated directly on Plymouth Road, with immediate access to US-23. The site benefits from premium curb visibility with an average daily vehicle count of over 20,000, while nearby US-23 sees north of 67,000 VPD.
|
Additional Details
| Nearest MSA: |
Ann Arbor |
| County: |
Washtenaw |
| Submarket/Township: |
Washtenaw W of 23 |
| Tax ID/APN: |
09-09-14-400-009 |
| Property Located Between: |
US-23 |
| Traffic/Vehicle Count: |
76,815 |
| Tenancy: |
Single Tenant |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Typical SF / Floor: |
4,305 SF |
| Property Condition: |
Excellent |
| Year Built: |
2023 |
| Parking Type: |
Surface |
| Parking Description: |
Ample |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
12,103 |
66,014 |
161,374 |
| Median Age: |
34.26 |
30.52 |
33.42 |
| Households: |
5,234 |
23,961 |
67,118 |
|
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