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Views: 40 DOM: 100 Updated: 11.05.24 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 11.0
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 increases every 5 years 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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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 7,882 57,761 146,727
2024 Total Population : 7,831 57,085 145,174
2024 Employed Civilian Pop : 3,711 30,649 76,105
2024 Total Businesses : 269 1,117 3,481
2024 Average Household Income : $ 94,837 $ 110,323 $ 104,268
2024 Total Consumer Spending : $ 280 M $ 2179 M $ 5278 M
2024 Median Age : 43 41 40
2024 Total Households : 3,392 22,674 57,845
2024 Pop Age 25+: Bachelor's Degree : 1,014 9,627 24,616
2024 Average Home Value : $ 322,852 $ 302,738 $ 298,647
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Bardstown Rd Wingfield Ave 2012 43,500 0.10 mi
Wingfield Rd Wingfield Ave 2010 20 0.12 mi
I- 265 2022 2,568 0.21 mi
I-265 RAMP from US 31E Bardstown Rd 2021 2,568 0.21 mi
2015 5,622 0.24 mi
Cedar Creek Rd Adair Creek Dr 2012 2,100 0.25 mi
Bardstown Rd 2022 7,124 0.25 mi
Brentlinger Ln Bardstown Rd 2012 5,400 0.27 mi
Bardstown Rd 2022 13,422 0.31 mi
I-265 RAMP to US 31E I- 265 2021 13,422 0.31 mi

Listing Broker

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