Absolute NNN Fast Casual
For Sale
Contact for pricing
16160 Fort St, Southgate, MI 48195
Fee simple opportunity with Panera LLC under an absolute NNN structure and long remaining primary term.
Property Size2,400 SF
Price / SF$1,441
Days on Market53
Property Features for 16160 Fort St
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Retail
Lease Type
Absolute NNN
Investment Type
Net Lease
Net Operating Income
$178,200
Building Details
Year Built
2026
Tenancy
Single
Listing Agency:
JLL Chicago | Americas Headquarters
Listed By:
Alex Sharrin · License #IL 475.170243
Source:
Crexi
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 7 at 5:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JLL Chicago | Americas Headquarters
Investment Insights
Based on property information with market context.
The property is a Panera Bread fast casual restaurant offered for the acquisition of fee simple interest. The asset is leased to Panera LLC under an absolute NNN lease structure with zero landlord responsibilities. The primary lease term is 15 years, with three, five-year renewal options. Rent escalations are scheduled at 8% every five years.
Located at 16160 Fort St in Southgate, Michigan, the restaurant benefits from strong site exposure directly along Fort Street, with over 42,000 vehicles per day. The location is positioned as an outparcel to Extra Space Storage and Meijer and sits within a retail corridor anchored by Southgate Shopping Center. Major nearby retail destinations noted include Southgate Ford, Lincoln, Lowe's, and Meijer.
For buyers seeking a single-tenant, fee simple investment with an absolute NNN lease, this Panera location presents a straightforward structure with defined lease duration and scheduled rent escalations. Panera is operated by Panera LLC under the terms described above, with the tenant backed by JAB Holding Company, which the offering materials describe as investment grade rated.
Located at 16160 Fort St in Southgate, Michigan, the restaurant benefits from strong site exposure directly along Fort Street, with over 42,000 vehicles per day. The location is positioned as an outparcel to Extra Space Storage and Meijer and sits within a retail corridor anchored by Southgate Shopping Center. Major nearby retail destinations noted include Southgate Ford, Lincoln, Lowe's, and Meijer.
For buyers seeking a single-tenant, fee simple investment with an absolute NNN lease, this Panera location presents a straightforward structure with defined lease duration and scheduled rent escalations. Panera is operated by Panera LLC under the terms described above, with the tenant backed by JAB Holding Company, which the offering materials describe as investment grade rated.
Key Highlights
- Panera Bread at 16160 Fort St, Southgate, Michigan, offered as a fee simple interest
- Absolute NNN lease with zero landlord responsibilities
- 15‑year primary lease term with three 5‑year renewal options
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
398
Businesses Nearby
257k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Groceries 27%
Shops & Services 17%
Home Improvements & Furnishings 13%
Kroger
Groceries
69,382 visits/mo
0.3 miles
Lowe's
Home Improvements & Furnishings
34,238 visits/mo
0.2 miles
McDonald's
Dining
28,456 visits/mo
0.3 miles
SONIC Drive In
Dining
19,762 visits/mo
0.4 miles
Starbucks
Dining
16,942 visits/mo
0.2 miles
Demographics for 48195, MI
30,014
Population
13,033
Households
2.3
Avg Household Size
42
Median Age
21%
College-Educated
89%
High-School Grad
6.9 sq mi
ZIP Area
4,350
Density / Sq Mi
$64,635
Median Household Income
$43,368
Median Earnings
$1,102
Median Rent
$165,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fee simple opportunity with Panera LLC under an absolute NNN structure and long remaining primary term.
Where is this conventional restaurant located?
The property is located at 16160 Fort St Southgate, MI.
What is the asking price?
The asking price for this property is $3,460,000.
What are key features of this property?
This property features: Panera Bread at 16160 Fort St, Southgate, Michigan, offered as a fee simple interest; Absolute NNN lease with zero landlord responsibilities; 15‑year primary lease term with three 5‑year renewal options
