10405 Southpointe Blvd, Louisville, KY 40291

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an NN 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 NN with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.

The Panera Bread is located at the signalized, hard corner intersection of Bardstown Rd and Southpointe Blvd. Bardstown Rd averages over 46,700 vehicles passing by daily and is a major retail thoroughfare serving the city of Louisville. The asset will be an outparcel to a future Hy-Vee grocery store anchored center that also features national/credit tenants including Bank of America and Bubba’s 33 pads. The asset is located less than a mile from a Walmart Supercenter and Cedar Springs Shopping Center, a 99,000+ square foot Kroger anchored shopping center. In addition, Panera Bread is also located in close proximity to an 87,000+ square foot Kohl’s, with a Chick-fil-A outparcel. The property is in the center of a primary retail corridor with other nearby national/credit tenants including McDonald’s, Chipotle, Starbucks, Raising Cane’s, Cracker Barrel, Valvoline, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 144,700 with an average household income of $99,261.