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    811 Jefferson Rd Rochester, NY 14623

    Sponsored
    For Sale
    $4,784,000

    High-yield NNN Panera Bread investment.

    Property size:
    4,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional investment opportunity presents a brand new, 4,600 square foot Panera Bread restaurant located at 811 Jefferson Rd, Rochester, NY 14623. Situated on a 0.814-acre lot, this property boasts a prime location within a dense retail corridor, benefiting from high visibility and traffic counts exceeding 29,900 vehicles daily. The building, constructed in 2023, is an outparcel of a new Hobby Lobby and is surrounded by other major retailers including Home Depot, PetSmart, Chick-fil-A, Aldi, Burlington, and Dick's Sporting Goods. This single-tenant, net-leased property offers a secure investment with a corporate guarantee from Panera Bread, a leading fast-casual restaurant chain with over 2,100 locations. The lease features a 15-year initial term with 10% rent bumps every five years, and includes four, five-year renewal options. The asking price is $4,784,000, representing a price per square foot of $1,040 and a 5.00% cap rate. The property currently generates a net operating income (NOI) of $239,200, with 100% occupancy. This is a rare opportunity to acquire a high-quality, passively managed investment with a strong tenant and significant upside potential. The property offers limited landlord responsibilities, making it an ideal addition to any investment portfolio.

    Property Features for 811 Jefferson Rd

    General Information

    Property type
    Restaurants
    Square Feet
    4,600 SF
    Lot Size
    35,458 SF

    Building Details

    Year Built
    2023

    HighLights

    • Corporate guaranteed Panera Bread NNN lease; over 2,100 locations nationwide.
    • New construction Panera Bread outparcel to Hobby Lobby in a dense retail corridor with Home Depot, PetSmart, Chick‑fil‑A, Aldi, Burlington, and Dick's Sporting Goods.
    • High‑visibility location on Jefferson Road with over 29,900 vehicles per day.
    • 4,600 SF building on a 0.81‑acre lot; 15‑year initial lease with 10% rent increases every five years, plus four five‑year renewal options; limited landlord responsibilities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hobby Lobby Craft Store

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Building Supply Hair Salon Wholesale Shop Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.619532
    Latitude
    43.085876

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    FAQs

    What type of property is this?
    Restaurant - High-yield NNN Panera Bread investment.
    Where is this restaurant located?
    The property is located at 811 Jefferson Rd Rochester, NY.
    What is the asking price?
    The asking price for this property is $4,784,000.
    What are key features of this property?
    This property features: Corporate guaranteed Panera Bread NNN lease; over 2,100 locations nationwide.; New construction Panera Bread outparcel to Hobby Lobby in a dense retail corridor with Home Depot, PetSmart, Chick-fil-A, Aldi, Burlington, and Dick's Sporting Goods.; High-visibility location on Jefferson Road with over 29,900 vehicles per day.
    Request Owner's contact information
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    Rochester, NY 14623
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    811 Jefferson Rd Rochester, NY 14623
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