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Views: 23 DOM: 34 Updated: 08.14.24 Posted: 08.13.24 Status: Active

Summary

Price $3,795,000
Built/Renov 2020
Tenant Panera Bread
Cap Rate 5.13%
Lease Type NN+
Guarantor Corporate
Size/SF 4,430
Lease Start 11-28-2020
#Units 2,118
Price/SF $856.66
Expiration 11-30-2035
Tenant Type Fast Casual/Rest.
NOI $194,544
R. Term 11.2
Ownership Fee Simple
Rent/SF $43.92
Increases 10.0%/5/yrs
Pop 5Mi 144,773
Lot/AC 1.13
Options 3/5yrs/10%
AHHI 5Mi $99,261

Lease Highlights

  • Panera Bread has 11+ years remaining on the current lease term with 3 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Favorable NN+ lease | Landlord is responsible for roof & structure | CAM charges, taxes & insurance are subject to tenant reimbursement
  • Corporate guaranteed lease

Location Description

Panera Bread is strategically located at the signalized, hard-corner intersection of Bardstown Road and Southpointe Boulevard, a major retail thoroughfare with a combined daily traffic count of 46,700 vehicles. The property will be an outparcel to a future Hy-Vee grocery store-anchored center, which will also feature well-known national tenants such as Bank of America and Bubba’s 33....

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Panera Bread
  • Guarantor:Corporate
  • Company:JAB Holding Company
  • # Units:2,118
  • Stock:Private

About Tenant

Panera Bread Company is an American bakery-café fast-casual restaurant chain, offering bakery items, pasta, salads, sandwiches, soups, and specialty drinks. Founded in 1987 as Paradise...


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