Drive-Through Restaurant
For Sale
Contact for pricing
1903 Convenience Place, Champaign, IL 61820
Three Panera Bread locations offered with corporate-guaranteed NN lease terms through 2033 and scheduled rent increases.
Property Size15,186 SF
Price / SF$525.15
Days on Market98
Property Features for 1903 Convenience Place
General Information
Standard status
Active
Size
15,186 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Net Operating Income
$483,483
Additional Details
Cap Rate
6.06%
Building Details
Tenancy
Single
Listing Agency:
NX3 Commercial Group
Listed By:
Evan Whelan · License #SL3102045
Source:
Crexi
Added: Jun 1
Changed: Sep 4
Last Checked: Sep 5 at 9:03PM
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 NX3 Commercial Group
Investment Insights
Based on property information with market context.
This offering presents a three-property Panera Bread portfolio with each location operating under a corporate-guaranteed double-net (NN) lease. Lease terms extend through December 31, 2033, and include built-in 10% rental increases every five years. The portfolio structure is designed to provide in-place income with limited landlord responsibility, with all properties having operated for more than two decades under Panera corporate assumptions.
The properties are positioned within retail corridors in Champaign, Peoria, and Springfield, Illinois. While specific corridor details are not provided, the remarks indicate each location is supported by regional drivers including major universities, healthcare systems, and government employment.
For investors seeking stabilized restaurant exposure, the key consideration here is the tenant guarantee and remaining lease term, supported by scheduled rent steps through the end of 2033. The portfolio has been presented as available either as a whole or purchased individually, allowing for flexible acquisition planning. Please note the offering terms are explicitly described as corporate-guaranteed NN with predictable rent increases every five years through the stated expiration date.
The properties are positioned within retail corridors in Champaign, Peoria, and Springfield, Illinois. While specific corridor details are not provided, the remarks indicate each location is supported by regional drivers including major universities, healthcare systems, and government employment.
For investors seeking stabilized restaurant exposure, the key consideration here is the tenant guarantee and remaining lease term, supported by scheduled rent steps through the end of 2033. The portfolio has been presented as available either as a whole or purchased individually, allowing for flexible acquisition planning. Please note the offering terms are explicitly described as corporate-guaranteed NN with predictable rent increases every five years through the stated expiration date.
Key Highlights
- Three‑property Panera Bread portfolio in Champaign, Peoria, and Springfield, Illinois
- Corporate‑guaranteed double‑net (NN) lease with terms extending through December 31, 2033
- Built‑in 10% rental increases every five years for scheduled NOI growth
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
802
Businesses Nearby
128k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 74%
Office Supplies 15%
Apparel 11%
Costco Wholesale
Superstores
94,362 visits/mo
0.3 miles
Office Depot
Office Supplies
19,225 visits/mo
0.2 miles
JCPenney
Apparel
13,757 visits/mo
0.4 miles
Extra Space Storage
Shops & Services
454 visits/mo
0.3 miles
Demographics for 61820, IL
40,822
Population
18,672
Households
2.2
Avg Household Size
25
Median Age
55%
College-Educated
93%
High-School Grad
5.9 sq mi
ZIP Area
6,919
Density / Sq Mi
$31,031
Median Household Income
$14,828
Median Earnings
$1,077
Median Rent
$175,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Three Panera Bread locations offered with corporate-guaranteed NN lease terms through 2033 and scheduled rent increases.
Where is this drive through restaurant located?
The property is located at 1903 Convenience Place Champaign, IL.
What is the asking price?
The asking price for this property is $7,975,000.
What are key features of this property?
This property features: Three‑property Panera Bread portfolio in Champaign, Peoria, and Springfield, Illinois; Corporate‑guaranteed double‑net (NN) lease with terms extending through December 31, 2033; Built‑in 10% rental increases every five years for scheduled NOI growth
