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Panera Bread | 9+yrs Remain NNN w/ Incrs 10405 Southpointe Blvd 4,430 SF Retail Building Louisville, KY 40291 $3,963,000 ($894.58/SF) 5.40% Cap Rate
Investment Highlights
- 9+ Years Remaining | Scheduled Rental Increases | Options to Extend
- Bardstown Rd (46,700 VPD) | Excellent Visibility | Outparcel to Hy-Vee | Strong National/Credit Tenant Presence
- NNN Lease | Fee Simple Ownership | Minimal Landlord Responsibilities
- Direct, Affluent Consumer Base | Strong Demographics
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NNN leased Panera Bread investment property located in Louisville, Kentucky. The tenant, Panera, LLC, has 9+ years remaining on its 15-year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,430 SF
Year Built
2020
Price
$3,963,000
Price Per SF
$894.58
Cap Rate
5.40%
NOI
$213,998
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.13 AC
Zoning
C2 - High Density Commercial
Parking
76 Spaces (17.16 Spaces per 1,000 SF Leased)
Frontage
482’ on Bardstown Road
Amenities
- Corner Lot
- Restaurant
- Signage
- Signalized Intersection
- Drive Thru
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
Panera Bread began as a community bakery-café in 1987, built around a sourdough starter and a format that helped shape the fast-casual restaurant segment. Panera Bread serves breakfast, salads, sandwiches, soups, mac & cheese, and baked goods, and also supports online ordering, delivery, catering, and rewards through its digital channels. Panera Bread operates as an American bakery-café chain with a presence across the United States and Canada, and the company continues to refresh its menu and brand offerings while keeping its focus on everyday meals and café service.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 052601060000 | Improvements Assessment | $2,432,090 |
| Land Assessment | $1,171,010 | Total Assessment | $3,603,100 |
Property Taxes
Parcel Number
052601060000
Land Assessment
$1,171,010
Improvements Assessment
$2,432,090
Total Assessment
$3,603,100
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