3522 Soncy Rd Amarillo, TX 79119-6672
- Drive through restaurants
- 4,695 SF
- 1.00 lot acres
Dec 28, 2020
Current Use by Public Records
- Panera Bread / Cafe / Delivery Service
Property Details for 3522 Soncy Rd
- Year built
- 2023
- Lot size
- 1.00 lot acres
- Property size
- 4,695 SF
- Zone code
- GR
- Property type
- Drive through restaurants
- APN
- R-073-0581-0720
- APU
- R07305810720
Description
This exceptional investment opportunity presents the chance to acquire a fee-simple interest (land and building) in a Panera Bread restaurant located at 3522 S Soncy Rd, Amarillo, TX 79119. The property, built in 2023, boasts 4,417 square feet and sits on a one-acre lot with 45 parking spaces. The property is zoned GR: General Retail and features a drive-thru. The current tenant, a Panera Bread franchisee, holds a 20-year absolute NNN lease commencing December 23, 2020, and expiring December 22, 2040, with four 5-year renewal options. The lease includes 8% rental increases every five years, providing built-in protection against inflation. The current Net Operating Income (NOI) is $230,400, resulting in a 5.25% cap rate and a price per square foot of $993.66. The asking price for this exceptional property is $4,389,000. This prime location along Soncy Road benefits from high visibility and accessibility, with an average daily traffic count of 32,300 vehicles. The property enjoys excellent proximity to major roadways, including Interstate 40 and Interstate 27, and is strategically situated within a dense retail corridor alongside numerous national retailers such as The Home Depot, Sam's Club, and Walmart. The surrounding area also includes significant residential developments, providing a strong consumer base. The 5-mile trade area boasts over 118,900 residents and 57,800 daytime employees, with an average household income of $133,469 within one mile of the property. This is a truly exceptional, management-free investment opportunity with significant long-term growth potential.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $310,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $491,000
Market price range: $282k - $618k
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Amarillo
- County
- Randall
- State
- Texas
- Longitude
- -101.939
- Latitude
- 35.1717
- CBSA code
- 11100
- CBSA name
- AMARILLO, TX METROPOLITAN STATISTICAL AREA
