Restaurant
For Sale
Contact for pricing
2950 James Sanders Blvd, Paducah, KY 42001
Panera Bread operates under a recently renewed ground lease with approximately five years remaining.
Property Size4,856 SF
Lot Size1.28 Acres
Price / SF$350.08
Days on Market258
Property Features for 2950 James Sanders Blvd
General Information
Standard status
Active
Size
4,856 SF
Lot size
1.28 Acres
Property subtype
RETAIL
Site & Location
Anchor Co-Tenants
Academy Sports, Walmart, Home Depot, T.J. Maxx, Pet Smart, Office Depot, Dollar Tree
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2010
Buildings
1
Tenancy
Single
Listing Agency:
Marcus & Millichap | Dallas
(972) 755-5279
Listed By:
John Paine · License #(S):TX:764689
Source:
Moodyscre
Added: Dec 16, 2025
Changed: Aug 31
Last Checked: Aug 30 at 12:23PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap | Dallas
Investment Insights
Based on property information with market context.
This restaurant property includes a 4,856-square-foot building constructed in 2010 on a 1.28-acre lot. Panera Bread occupies the building under a renewed ground lease with approximately five years remaining, including 10 percent rent escalations every five years and additional rent equal to 4 percent of sales above the breakpoint.
The property has direct access to US-60, which records over 22,707 VPD, as well as James Sanders Blvd, with over 15,449 VPD. It is located across from Kentucky Oaks Mall in a shopping center anchored by Academy Sports. Other retailers identified in the surrounding center include Walmart, Home Depot, T.J. Maxx, PetSmart, Office Depot, and Dollar Tree.
The property has direct access to US-60, which records over 22,707 VPD, as well as James Sanders Blvd, with over 15,449 VPD. It is located across from Kentucky Oaks Mall in a shopping center anchored by Academy Sports. Other retailers identified in the surrounding center include Walmart, Home Depot, T.J. Maxx, PetSmart, Office Depot, and Dollar Tree.
Key Highlights
- Renewed ground lease with approximately five years remaining
- 4,856 SF building constructed in 2010
- 1.28‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$57,779
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,155,580
$1.2M
Cap Rate 7%
$825,414
$825.4K
Cap Rate 9%
$641,989
$642.0K
Market Conditions
NOI Build-Up for 4,856 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$79.8K $16.44/SF
− Vacancy
−$2.8K −$0.58/SF
EGI
$77.0K $15.86/SF
− OpEx
−$19.3K −$3.97/SF
NOI
$57.8K $11.90/SF
Area
McCracken County, KY
Vacancy
3.50%
Lease Rate
$16.44 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,155,580
Cap Rate 7%
$825,414
Cap Rate 9%
$641,989
Alternative Uses
Best Use
Specialty Retail
$825.4K
$722.2K – $963.0K
NOI $57,779 @ 7.0% cap · market cap 3.40%
Second Best
Retail
$758.4K
$663.6K – $884.8K
NOI $53,089 @ 7.0% cap · market cap 3.12%
Theoretical Best
Warehouse
$1.01M
$885.3K – $1.18M
NOI $70,825 @ 7.0% cap · market cap 4.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
716
Businesses Nearby
913k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 32%
Apparel 23%
Shops & Services 21%
Superstores 15%
Walmart
Superstores
136,578 visits/mo
0.4 miles
Academy Sports + Outdoors
Apparel
56,801 visits/mo
0.1 miles
Hobby Lobby
Shops & Services
53,113 visits/mo
0.4 miles
DICK'S Sporting Goods
Apparel
48,620 visits/mo
0.5 miles
Five Below
Shops & Services
43,601 visits/mo
0.3 miles
Demographics for 42001, KY
31,579
Population
14,815
Households
2.1
Avg Household Size
41
Median Age
36%
College-Educated
94%
High-School Grad
74.2 sq mi
ZIP Area
426
Density / Sq Mi
$68,868
Median Household Income
$42,334
Median Earnings
$916
Median Rent
$210,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Panera Bread operates under a recently renewed ground lease with approximately five years remaining.
Where is this conventional restaurant located?
The property is located at 2950 James Sanders Blvd Paducah, KY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Renewed ground lease with approximately five years remaining; 4,856 SF building constructed in 2010; 1.28‑acre lot
