Wichita, KS - Panera Bread

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, franchisee guaranteed, Panera Bread investment property located in Wichita, Kansas. The tenant, Panera Bread has over 11 years remaining on there lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 7.5% 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 absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

The Panera Bread is located along the highly trafficked N. Rock Road retail corridor with visibility to over 28,200 VPD, complemented by nearby E. 13th Street N. (16,400 VPD) and State Highway 96 (62,600 VPD). The property is positioned as an outparcel to the Bradley Fair Shopping Center, a premier lifestyle destination anchored by Dillard’s, Trader Joe’s, Barnes & Noble, and The Fresh Market. In addition, the Panera Bread benefits from proximity to other major shopping destinations including The Village at Greenwich and Regency Lakes Shopping Center, which feature anchors such as Target, Hobby Lobby, Academy Sports, Marshalls, Ross, Michaels, HomeGoods, and Old Navy.The surrounding trade area is densely populated and well established, with over 165,000 residents within 5 miles and an average household income exceeding $96,500. The property also draws strong daytime demand from the nearby 112,500 employees within 5 miles, anchored by major employers such as Wichita State University, Wesley Medical Center, Cessna Aircraft, and Beechcraft. Positioned in one of Wichita’s most desirable submarkets, the Panera Bread benefits from strong cross-shopping patterns, robust consumer traffic, and long-term trade area stability.

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