Panera - Southgate, MI — Sale in Southgate, MI
- Price: $3.4M
- Listing type: For sale
- Asset type: Retail Business
- Location: Southgate, MI 48195
- Year built: 2026
Photos
Investment Figures
- Cap rate
- 5.30%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire the fee simple interest in a Panera Bread located at 16160 Fort St, Southgate, Michigan ("Property" or "Asset"). Panera LLC. ("Tenant") is operating on an absolute NNN lease with zero landlord responsibilities, 15 years of primary lease term, three, five-year renewal options, and 8% rent escalations every five-years. Panera Bread is privately held by JAB Holding Company which possesses an investment grade credit rating (Baa1; Stable (Moody's)). JAB Holdings is a Luxembourg-based investment firm that acquired the company in 2017 in a transaction valued at approximately $7.5 billion, possessing investment grade credit (Baa1; Moody's)). Panera Bread is a leading fast casual bakery-cafe chain operating more than 2,200 locations across 48 states. Founded in 1987 the company pioneered the fast casual dining category, offering a menu centered on soups, salads, sandwiches, mac & cheese, and baked goods. The Property occupies a strategic position in Southgate, Michigan, just 11 miles south of Detroit and 7 miles east of Detroit Metropolitan Wayne County Airport, one of the nation's busiest transportation hubs serving over 33 million annual passengers. Situated directly along Fort Street, the Property benefits from exceptional visibility and traffic exposure with over 42,000 vehicles per day. The site sits within a five-mile radius encompassing more than 187,000 residents across 80,000 households with an average household income exceeding $89,000, positioning it within a strong, densely populated market. The Property functions as an outparcel to Extra Space Storage and Meijer, capturing access to their combined 2.1 million annual visitors(Placer.ai). Its location within a concentrated retail corridor anchored by Southgate Shopping Center further enhances its appeal. Adjacent major retail destinations include Southgate Ford, Lincoln, Lowe's, and Meijer which generates a combined 4 milli
Market Context
This retail in Southgate, MI is listed for sale at $3,362,000. It is offered at an approximate 5.3% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 2026. Compare it against other retail listings for sale in Southgate, MI — view the full market.
As of Q1 2026, the Detroit retail market showed a 1.3% vacancy rate, average asking rents near $17.00/SF/yr, and rents up 1.3% year over year. Source: Cushman & Wakefield Q1 2026 market report.
Rising rents point to a competitive market where well-priced, well-located assets trade quickly.
Retail market FAQ
- Is the Detroit retail market tightening or softening?
- Vacancy is around 1.3%, with asking rents rising year over year (Q1 2026).
Contact
- Alex Sharrin · 3059135545 · alex.sharrin@jll.com
- Alex Geanakos · 2122094506 · alex.geanakos@jll.com
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