3506 Clack St Abilene, TX 79606-2205

Property Details for 3506 Clack St

Year built

2020

Lot size

0.84 lot acres

Property size

4,935 SF

Property type

Commercial real estate

APN

4350000200

APU

4350000200

Description

This exceptional investment opportunity presents the fee simple ownership (land and building) of a Panera Bread restaurant located at 3506 S Clack St, Abilene, TX 79606. The property, built in 2020, encompasses 4,935 square feet on a 0.84-acre lot and includes 47 parking spaces. The property benefits from a 20-year absolute NNN lease with a corporate guarantee from Panera Bread, commencing December 26, 2020, and expiring December 25, 2040. This leaves 16.1 years remaining on the initial lease term, providing significant long-term stability. The lease includes four 5-year renewal options, further securing the investment. Rental increases of 8% every five years throughout the lease term and option periods are built into the agreement, providing protection against inflation and increasing net operating income (NOI). The current NOI is $254,400, resulting in a 5.00% cap rate and a price per square foot of $1,031. The property is zoned GC (General Commercial) and enjoys a prime location with excellent visibility and accessibility, situated along Clack Street and near major commuter routes including US Highway 83. The property is strategically located within a dense retail trade area, benefiting from proximity to significant shopping centers such as the Shops at Abilene Village, Shops at Abilene, and Park Central Shopping Center, as well as the Mall of Abilene. Strong national tenants in the immediate vicinity include Lowe's, Target, Home Depot, and others, creating a robust and thriving retail environment. The property also benefits from a large residential population within a 5-mile radius, including numerous single-family and multi-family communities, providing a substantial consumer base. The asking price for this exceptional investment is $5,088,000.

Location Insight

City

Abilene

County

Taylor

State

Texas

Longitude

-99.771

Latitude

32.4085

CBSA code

10180

CBSA name

ABILENE, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments