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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

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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

Restaurant

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

Corner Lot
Restaurant

Signage

Signalized Intersection

Drive Thru

Accommodation and Food Services
99,999 SF
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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.