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Panera Bread | 9+yrs Remain NNN w/ Incrs 10405 Southpointe Blvd 4,430 SF Retail Building Louisville, KY 40291 $5,617,275 CAD ($1,268.01 CAD/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

$5,617,275 CAD

Price Per SF

$1,268.01 CAD

Cap Rate

5.40%

NOI

$303,327 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

Corner Lot
Restaurant

Signage

Signalized Intersection

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.