Panera Bread Drive-Thru | Indianapolis, IN

Premier Net-Lease Commercial Investment: Panera Bread Drive-Thru | Indianapolis, IN

Lee & Associates is pleased to exclusively present the fee simple interest (land and building) for sale in a newly constructed, freestanding Panera Bread located at 8616 U.S. 31 South in Indianapolis, Indiana. Completed as a 2025 build-to-suit construction with a dedicated drive-thru, this premier quick-service restaurant (QSR) asset offers commercial real estate investors long-term, passive cash flow backed by a strong corporate lease guaranty from one of the nation's leading fast-casual dining brands.

Corporate Lease Security & Financial Overview

Priced at $4,076,000, the investment generates a Net Operating Income (NOI) of $214,200, delivering a 5.25% Cap Rate. Panera operates under a new 15-year Double-Net (NN) corporate lease with approximately 14.6 years of primary term remaining. The lease includes 10% rental increases every five years to hedge against inflation, supported by three additional 5-year renewal options. Panera Bread operates over 2,000 locations across North America and generated approximately $6.1 billion in annual revenue in 2025, bringing exceptional corporate credit strength to this asset.

Commercial Property & Technical Specifications

• Property Address: 8616 U.S. 31 South, Indianapolis, IN 46227

• Offering Price: $4,076,000

• Cap Rate: 5.25%

• Net Operating Income (NOI): $214,200

• Tenant / Guarantor: Panera Bread (Corporate Guarantee)

• Property Type / Sub-Type: Commercial Retail / Fast Casual Restaurant / Drive-Thru

• Gross Leasable Area (GLA): 3,875 Sq. Ft.

• Price Per Square Foot: $1,052 / SF

• Lot Area: 1.10 Acres (47,916 Sq. Ft.)

• Year Built: 2025 (Build-to-Suit Drive-Thru Construction)

• Lease Structure: Double-Net (NN)

• Remaining Lease Term: 14+ Years (14.6 Years Remaining)

• Rent Escalations: 10% Increases Every 5 Years

• Renewal Options: Three (3) 5-Year Options

• Parking Capacity: 45 Dedicated Parking Spaces (11.61 spaces per 1,000 SF)

High-Traffic Retail Placement & Surrounding Synergy

Situated on 1.10 acres within The Shops at Fountain Creek, this location serves as a strategic relocation site featuring a modern drive-thru format tailored for high transaction volume. The property benefits from exceptional visibility and access along U.S. 31 South, which carries over 35,490 vehicles per day. Neighboring tenants within the center include Shake Shack, CAVA, and T-Mobile, amplifying daily retail foot traffic. The surrounding super-regional retail trade area is further anchored by Greenwood Park Mall (over 100 retailers), Target, Walmart, Costco, and Kroger.

Dense Infill Demographics & Regional Connectivity

• Dense Population Base: Features 88,668 residents within 3 miles and 213,965 residents within 5 miles.

• High Purchasing Power: Average household incomes reach $92,354 within 3 miles and $103,965 within 5 miles, driving more than $1.05 billion in annual food and beverage spending within a 5-mile radius.

• Strategic Transit Connectivity: Positioned just 10 minutes from I-65 and I-465, 22 minutes from Indianapolis International Airport, and 25 minutes south of downtown Indianapolis. The property serves the vibrant southern Indianapolis and Southport submarkets within an MSA home to over 2.17 million residents.