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Panera Bread 10405 Southpointe Blvd 4,430 SF Retail Building Louisville, KY 40291 $5,075,565 CAD ($1,145.73 CAD/SF) 5.35% Cap Rate
INVESTMENT HIGHLIGHTS
- Approximately 11 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 approximately 11 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
$5,075,565 CAD
Price Per SF
$1,145.73 CAD
Cap Rate
5.35%
NOI
$271,568 CAD
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
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 052601060000 | Improvements Assessment | $3,522,789 CAD |
| Land Assessment | $1,299,195 CAD | Total Assessment | $4,821,984 CAD |
PROPERTY TAXES
Parcel Number
052601060000
Land Assessment
$1,299,195 CAD
Improvements Assessment
$3,522,789 CAD
Total Assessment
$4,821,984 CAD
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Panera Bread | 10405 Southpointe Blvd
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