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
About this deal
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.
On the Map
$3,300,000
$754/SF
Retail
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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