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Panera Bread | 11+yrs Abs NNN w/ Incrs 1605 N Rock Rd 4,950 SF Retail Building Wichita, KS 67206 $3,497,000 ($706.46/SF) 5.85% Cap Rate

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INVESTMENT HIGHLIGHTS

Over 11 Years Remaining | 7.5% Rental Increases | Franchisee Guaranteed
Strategic Wichita Submarket | Growth & Stability
Wichita Economic Drivers | Major Employment & Education Hub

Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Dense Population Base | Strong Demographics
Premier Retail Corridor | High Traffic Counts & Prime Visibility

EXECUTIVE SUMMARY

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, franchisee guaranteed, Panera Bread investment property located in Wichita, Kansas. The tenant, Panera Bread has over 11 years remaining on there lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.5% 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 absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Restaurant

Building Size

4,950 SF

Building Class

Year Built/Renovated

1983/2023

Price

$3,497,000

Price Per SF

$706.46

Cap Rate

5.85%

NOI

$204,594

Tenancy

Single

Building Height

1 Story

Building FAR

0.14

Lot Size

0.81 AC

Zoning

LC - Limited Commercial

Parking

50 Spaces (10.1 Spaces per 1,000 SF Leased)

Frontage

158’ on S Rock Rd

Pylon Sign

Restaurant

Signage

Drive Thru

Accommodation and Food Services
99,999 SF
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Panera began in 1987 as St. Louis Bread Company, a humble community bakery founded with a sourdough starter from San Francisco and a dream of putting a loaf of bread in every arm. While Panera's business has expanded well beyond St. Louis since then, that same sourdough starter is still used in their iconic sourdough bread and the craft of baking bread fresh each day remains at the heart of Panera Bread. Each day their trained bakers fill their bakery shelves with delicious freshly baked cookies, pastries, bagels, and a range of breads from focaccia to classic baguettes. Panera Bread is privately held by JAB Holding Company. Panera Bread is part of Panera Brands, one of the largest fast casual restaurant platforms in the U.S., comprised of Panera Bread®, Caribou Coffee® and Einstein Bros.® Bagels.