Private Family Trust Sells Panera Bread Drive-Thru In Plattsburgh For $3.3M With Brokers Jeff Lefko & Bill Asher
408 State Route 3
$3,300,000
$754/SF
Building Size
4,373 SF
Asset Type
Retail
Closing
Apr 13, 2026
AI
A single-tenant net-lease Panera Bread drive-thru property located at 408 State Route 3 in Plattsburgh, New York, was sold for $3.3 million. The asset has a total square footage of 4,373, leading to a price per square foot of $755.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,300,000
- Market: Plattsburgh
- Brokers: Jeff Lefko & Bill Asher - Hanley Investment Group
- Seller: Private family trust
- Buyer: San Francisco Bay Area-based 1031 exchange buyer
The sale was facilitated by Hanley Investment Group and NAI DESCO, highlighting the collaboration between the two firms in executing this transaction.
Players
Plattsburgh Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93