Panera Bread

Panera Bread Net Lease Investment Opportunity
Spokane, WA MSA
10-Year Absolute Triple Net Lease | Corporate Guarantee | Fee Simple Ownership

This offering presents an excellent opportunity to acquire a Panera Bread bakery-café in the rapidly expanding Spokane, Washington Metropolitan Statistical Area. Secured by a 10-year absolute triple net (NNN) lease, the property delivers reliable, management-free income backed by one of the nation’s premier fast-casual dining brands. With a strong hard-corner location, favorable demographics, and a corporate-backed guarantee, this property is well positioned for stable long-term performance.

Location and Market Overview
Spokane is the largest city in Eastern Washington and serves as a key economic, medical, and educational hub for the Inland Northwest. With a metropolitan population exceeding 600,000, Spokane continues to experience growth fueled by healthcare, education, technology, and professional services. The city’s stable economy and expanding residential base make it a prime market for national tenants.

The subject property is situated on a hard corner along a busy retail corridor with daily traffic counts exceeding 29,000 vehicles. Its location offers excellent visibility and accessibility, attracting both commuter and destination traffic. The area is home to strong national retailers including Target, Walmart, Lowe’s, and Safeway, creating consistent consumer activity.

Demographics
Within a three-mile radius, the property is supported by more than 64,000 residents with average household incomes exceeding $78,000. Expanding to five miles, the population grows to over 145,000 residents, with household incomes averaging $81,000. This combination of strong residential density and stable income levels creates a robust customer base for Panera Bread’s fast-casual dining model.

Property Details
The property consists of a freestanding Panera Bread store totaling approximately 4,500 square feet on a 1.1-acre parcel. The building is designed to Panera’s latest prototype, offering modern architecture, a comfortable dining room, digital ordering kiosks, and a drive-thru to meet strong consumer demand for convenience. The parcel provides ample parking, strong signage, and easy ingress and egress for customers.

Fee simple ownership provides investors with full control of both the land and improvements, ensuring long-term stability.

Lease Structure and Tenant Guarantee
The property is secured by a 10-year absolute triple net (NNN) lease. Under the terms of the lease, the tenant is responsible for all property expenses including real estate taxes, insurance, and maintenance, resulting in a completely passive investment. The lease also includes 10% rental increases every five years, providing steady income growth.

Panera Bread operates more than 2,000 bakery-cafés nationwide and is a market leader in the fast-casual dining sector. Known for its high-quality food offerings and strong digital sales platform, Panera continues to expand across major markets. Backed by JAB Holding Company, the brand has significant resources and long-term stability, offering investors confidence in tenant performance.

Surrounding Area and Trade Drivers
Spokane’s steady growth and expanding residential base continue to drive retail demand. The subject property is strategically located near major retailers, medical facilities, schools, and dense housing communities. Its placement on a commuter-heavy corridor ensures steady daily traffic while the surrounding trade area provides consistent year-round consumer demand.

Investment Highlights

• 10-year absolute triple net (NNN) lease with Panera Bread.
• Fee simple ownership of a 1.1-acre parcel with a 4,500-square-foot modern prototype store including drive-thru service.
• Tenant responsible for all expenses, ensuring a truly passive investment.
• Scheduled 10% rental increases every five years, providing predictable income growth.
• Corporate-backed guarantee from Panera Bread, a nationally recognized fast-casual leader.
• Hard-corner Spokane MSA location with traffic counts exceeding 29,000 vehicles daily.
• Strong demographics: more than 64,000 residents within three miles and 145,000+ within five miles, with household incomes averaging $78,000 to $81,000.
• Surrounded by national retailers and strong community demand in a stable and growing market.
• Attractive opportunity for 1031 exchange buyers, REITs, family offices, and institutional investors.

Buyer Profile and Financing
The property is well-suited for 1031 exchange buyers, REITs, and institutional investors seeking stable long-term net lease income. The absolute NNN lease and corporate-backed guarantee provide excellent lender confidence and highly favorable financing opportunities.

Conclusion
This Panera Bread property in the Spokane MSA represents a premier single-tenant net lease opportunity. With a long-term 10-year absolute NNN lease, corporate guarantee, scheduled rent escalations, and a prime hard-corner location in a growing and stable market, the property offers secure, predictable income with strong appreciation potential.

Qualified investors are encouraged to request the full offering memorandum, tenant lease abstract, and financials.