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

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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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