10405 Southpointe Blvd Louisville, KY 40291
- Retail properties
- 4,430 SF
- 1.13 lot acres
Current Use by Public Records
- Retail properties
Property Details for 10405 Southpointe Blvd
- Year built
- 2020
- Lot size
- 1.13 lot acres
- Property size
- 4,430 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a fee simple ownership (land and building) of a Panera Bread restaurant in Louisville, KY. The 4,430 square foot property, built in 2020, sits on a 1.13-acre lot with 76 parking spaces and boasts a strong 5.13% cap rate. The property benefits from a 15-year Net Net Net (NNN) lease with Panera Bread, LLC, with approximately 11 years remaining and three 5-year renewal options. The lease includes 10% rental increases every five years, providing consistent NOI growth and inflation protection. Located at the highly visible, signalized intersection of Bardstown Rd and Southpointe Blvd (46,700 VPD), this property is an outparcel to a future Hy-Vee anchored center, surrounded by other national retailers including Bank of America, Bubba's 33, Walmart, Kroger, Kohl's, Chick-fil-A, McDonald's, Chipotle, Starbucks, Raising Cane's, Cracker Barrel, and Valvoline. The property's C2 zoning and prime location within a densely populated area (over 144,700 residents within a 5-mile radius, with an average household income of $99,261) ensures strong tenant performance and long-term investment value. The current NOI is $194,544, making this a low-management, high-return investment opportunity. The asking price is $3,795,000. Property APN is 22052601060000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Louisville
- County
- Jefferson
- State
- Kentucky
- Longitude
- -85.5807
- Latitude
- 38.138
