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Panera Bread 3131 Poplar Level Rd 4,250 SF Retail Building Louisville, KY 40213 $4,415,000 ($1,038.82/SF) 5.70% Cap Rate
INVESTMENT HIGHLIGHTS
- Proven operating history since 2006; lease extension executed in 2018
- Panera will be performing a refresh on the building in the coming months
- 265,000+ people live within a five-mile radius
- Ground lease – NNN – No landlord responsibilities
- Regional connectivity via I-264 (182,000 VPD) & I-65 (129,000 VPD)
- Nearby attractions include Norton Audubon Hospital, Bellarmine University (2,800 students), Saint Xavier High School (1,300+ students)
EXECUTIVE SUMMARY
The 4,250-square-foot Panera is strategically positioned along Poplar Level Road, a major Louisville thoroughfare with traffic counts exceeding 30,700 vehicles per day. The property is within walking distance of Norton Audubon Hospital, further enhancing daytime population and demand. Nearby demand drivers include Bellarmine University (2,800 students), Saint Xavier High School (1,300+ students), Audubon Country Club, and the Louisville International Airport. The area is home to over 265,000 residents within a ?ve-mile radius, with an average household income exceeding $97,000 within one mile. National retailers in the immediate vicinity include CVS, McDonald’s, Chili’s, Taco Bell, Dairy Queen, Strickland Brothers, and more.
Panera Bread, founded in 1987 as the St. Louis Bread Company, is a leading bakery-café chain in the United States, renowned for its commitment to fresh, high-quality ingredients and a warm, inviting atmosphere. Headquartered in St. Louis, Missouri, the company rebranded to Panera Bread in 1997 and has since grown to over 2,000 locations nationwide. Panera is celebrated for its artisan breads, made-from-scratch soups, salads, sandwiches, and signature baked goods, all crafted with a focus on clean ingredients free from artificial flavors, sweeteners, and preservatives. The company’s mission to provide food as it should has resonated with customers, fostering a loyal following through its emphasis on wholesome, flavorful offerings and community-focused dining experiences.
PROPERTY FACTS
AMENITIES
- Freeway Visibility
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Accommodation and Food Services
- -
- -
- Triple Net
- Dec 2031
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.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Accommodation and Food Services | - | - | Triple Net | Dec 2031 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 086U00020000 | Improvements Assessment | $2,947,900 |
| Land Assessment | $1,058,000 | Total Assessment | $4,005,900 |
PROPERTY TAXES
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Panera Bread | 3131 Poplar Level Rd
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