408 State Route 3 - Restaurant FOR SALE


Plattsburgh, NY 12901
$3,652,000 USD
314-994-4186
408 State Route 3, Plattsburgh, NY for Sale
$3,652,000 USD
Restaurant - FOR SALE
1/5
null | 5.75% Cap Rate

408 State Route 3
Plattsburgh, NY 12901


HIGHLIGHTS

  • Only 5 minutes from UVM Health Network - Champlain Valley Hospital, Plattsburg's largest employer with 2,100 employees and nearby accommodations
  • Less than 3 miles from State University of New York-Plattsburg with 4,417 students and 1,268 employees
  • Great visibility from NY Hwy-3 and adjacent to I-87 & NY Hwy-3 access point
  • ±17,147 and 32,969 Vehicles Per Day
  • Located in the heart of Plattsburg's main retail corridor with affluent surrounding area
  • Near by destination retailers include Walmart, Lowe's, Sam's Club, Target, Aldi, Five Guys, Pizza Hut Chipotle and more

OVERVIEW

This property, constructed in 2020 as a build-to-suit for Panera, is designed to optimize store performance. It offers a desirable lease term with 10.5 years remaining, plus four 5-year tenant renewal options. The lease includes 8% rental increases every five years and is an Absolute NNN Lease with no landlord responsibilities, making it an ideal management-free investment for a passive investor. With over 2,130 locations across the U.S., Panera LLC has committed to this site with a corporate lease and drive-thru, reflecting their long-term investment in the location.

FOR SALE DETAILS

PRICE

$3,652,000 USD

PRICE/SF

$835 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2020

SPRINKLERS

-

PARKING SPACES

38

LAND DETAILS

LAND ACRES

1.07 AC

LAND SF

46,773 SF

ZONING

C

APN/PARCEL ID

094200-206-004-0003-012-000-0000

ASK ABOUT THIS PROPERTY

Stephen GwinnupNAI DESCOMore Info
314-994-4186

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Stephen GwinnupNAI DESCOMore Info
314-994-4186

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.