Panera Bread Drive-Through
New
For Sale
$3,209,000
5673 Franklin St, Michigan City, IN 46360
A freestanding restaurant pairs drive-through service with a new 15-year NNN lease.
Property Size4,500 SF
Lot Size1.00 Acre
Price / SF$713.11
Days on Market2
Property Features for 5673 Franklin St
General Information
Standard status
Active
Size
4,500 SF
Lot size
1.00 Acre
Property subtype
Restaurant
Lease Type
NNN
Net Operating Income
$176,492
Financials
Asking Price
$3,209,000
Cap Rate
5.5%
Site & Location
Drive-Thru
Yes
Highway Access
Yes
Road Access
Yes
Amenities
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-year renewal options
13-Year Operating History – Panera has operated at this location since the property was built in 2013.
Experienced Panera Franchisee – Operated by Manna Development Group, one of Panera's largest franchisees, with approximately 160 cafés across 11 states.
Modern Drive-Thru Prototype – 4,500-square-foot freestanding building situated on approximately one acre.
Primary Michigan City Retail Corridor – Positioned along South Franklin Street with convenient access to Interstate 94 and surrounding national retail and dining destinations.
Established Trade Area – Approximately 41,923 residents within five miles and 52,871 within seven miles, with seven-mile average household income of approximately $82,032.
Additional Panera Opportunities Available – Two additional 15-year NNN leased Panera locations in Kelso, Washington and Wyoming, Michigan are being offered alongside the Michigan City property.
Building Details
Building Size
4,500 SF
Year Built
2013
Buildings
1
Listing Agency:
Marcus & Millichap - Fort Lauderdale
Listed By:
Alan Lipsky · License #License(s): FL: SL3279054
(954) 245-3595
Source:
Marcusmillichap
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 10 at 2:17AM
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 Marcus & Millichap - Fort Lauderdale
Investment Insights
Based on property information with market context.
This freestanding Panera Bread restaurant occupies approximately one acre and contains 4,500 square feet. Constructed in 2013, the building includes drive-through service. A new 15-year NNN lease is scheduled to begin at closing, with 10% rent increases every five years during the initial term and four five-year renewal options. The lease is guaranteed by Hanna Graham Investments. Manna Development Group operates the restaurant; the franchisee has been at this location for approximately 12 years.
The property fronts South Franklin Street in Michigan City, along the city’s primary retail corridor. Interstate 94 and other major regional routes provide area access, and the surrounding trade area includes national retail and restaurant operators. The population is 41,923 within five miles and 52,871 within seven miles. The property is also available as part of a three-location Panera Bread offering, with sites in Kelso, Washington, and Wyoming, Michigan; the locations may also be acquired separately.
The property fronts South Franklin Street in Michigan City, along the city’s primary retail corridor. Interstate 94 and other major regional routes provide area access, and the surrounding trade area includes national retail and restaurant operators. The population is 41,923 within five miles and 52,871 within seven miles. The property is also available as part of a three-location Panera Bread offering, with sites in Kelso, Washington, and Wyoming, Michigan; the locations may also be acquired separately.
Key Highlights
- 4,500‑square‑foot freestanding restaurant on approximately one acre
- Built in 2013 with drive‑through service
- New 15‑year NNN lease, with 10% increases every five years during the initial term
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 46360, IN
44,209
Population
21,652
Households
2
Avg Household Size
42
Median Age
23%
College-Educated
90%
High-School Grad
76.6 sq mi
ZIP Area
577
Density / Sq Mi
$59,641
Median Household Income
$36,738
Median Earnings
$924
Median Rent
$155,900
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - A freestanding restaurant pairs drive-through service with a new 15-year NNN lease.
Where is this drive through restaurant located?
The property is located at 5673 Franklin St Michigan City, IN.
What is the asking price?
The asking price for this property is $3,209,000.
What are key features of this property?
This property features: 4,500‑square‑foot freestanding restaurant on approximately one acre; Built in 2013 with drive‑through service; New 15‑year NNN lease, with 10% increases every five years during the initial term
