2152 Fairport Nine Mile Pt Rd Fairport, NY 14450

Property Details for 2152 Fairport Nine Mile Pt Rd

Year built

2015

Lot size

1.26 lot acres

Property size

4,334 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a 4,334 square foot Panera Bread restaurant located at 2152 Fairport Nine Mile Point Rd, Fairport, NY 14450. The property boasts a strong 6.85% cap rate on a stabilized, single-tenant NNN lease with a corporate guarantee from Panera Bread. The lease features a remaining term of 5.1 years, expiring December 30, 2029, with 10% rent bumps every five years and three five-year lease options. The building, constructed in 2015, sits on a 1.26-acre lot and enjoys 100% occupancy since November 30, 2015. The property benefits from a prime location directly across from a major retail power center anchored by Target, Wegmans, and JOANN Fabrics, and is surrounded by other national retailers, creating significant foot traffic. The site's strong demographics, including an average household income exceeding $113,000 within a one-mile radius, further enhance its appeal. The Panera Bread location includes a drive-thru, contributing to consistent demand. The property's high visibility on Fairport Nine Mile Road, with over 115,000 vehicles passing daily, ensures strong exposure. Its proximity to Harris Hill Elementary School and several medical facilities adds to its strategic location within the community. The asking price is $2,875,000, representing a price per square foot of $663.36 and a Net Operating Income (NOI) of $196,800. This investment offers a compelling combination of a strong tenant, prime location, and attractive financial metrics.