2405 9th Mile Rd Pensacola, FL 32534-9420

Property Details for 2405 9th Mile Rd

Year built

1966

Lot size

1.20 lot acres

Zone code

HC/LI

Property type

Commercial land

APN

11-1S-31-1201-001-001

APU

111S311201001001

Description

This exceptional investment opportunity presents a newly constructed (2024) Panera Bread restaurant in Pensacola, Florida, boasting a 15-year absolute NNN lease with a corporate guarantee from Panera, LLC. The 3,557 square foot building sits on a 1.2-acre lot and features a drive-thru and outdoor seating, maximizing customer convenience. Located on a high-traffic section of West 9 Mile Road, this property benefits from its proximity to Interstate 10, a new Navy Federal Credit Union campus, Ransley Station development, Naval Air Station Pensacola, and the University of West Florida, ensuring a consistent flow of customers. The lease commenced October 14, 2024, and expires October 31, 2039, offering a substantial remaining term of 15 years. The property's strong location, coupled with the established brand recognition of Panera Bread and the favorable lease terms, makes this an attractive investment with a 5.00% cap rate and a Net Operating Income (NOI) of $168,875. The asking price is $3,378,000. Rent bumps are included in the lease agreement. This is an ideal opportunity for passive investors seeking a stable, high-performing asset in a rapidly growing market. The property's modern design incorporates energy-efficient materials and systems, optimizing operational efficiency. Ample parking and excellent visibility contribute to its strong potential for long-term value appreciation. This offering is structured for a 1031 exchange.