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Sprouts Farmers Market

4501 66th Street North, St. Petersburg, FL 33709

$8,670,000

Cap Rate 5.50%

Views: 98 DOM: 338 Updated: 10.21.24 Posted: 01.18.24 Status: Active

Summary

Price $8,670,000
Built/Renov 1970/2023
Tenant Sprouts Farmers Market
Cap Rate 5.50%
Lease Type NN+
Guarantor Corp Traded
Size/SF 23,256
Lease Start 08-18-2023
#Units 407
Price/SF $372.81
Expiration 08-31-2038
Tenant Type Grocery
NOI $476,748
R. Term 13.8
Ownership Fee Simple
Rent/SF $20.50
Increases 4.8%/4/yrs
Pop 5Mi 268,321
Lot/AC 2.55
Options 4/5yrs/4.5%
AHHI 5Mi $89,004

Eric Carlton
Colliers NNN Group
Contact

Jereme Snyder
Colliers NNN Group
Contact

Lease Highlights

  • Sprouts Farmers Market has 13+ years remaining on the current lease term with 4 (5-year) options to extend
  • Lease features 4.8% rental increases every 5 years throughout the initial term and 4.5% at the start of each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Sprouts Farmers Market is strategically located at the signalized, hard corner intersection of 66th Street N and 46th Avenue N, which has a combined daily traffic count of 48,000 vehicles. The property holds a prominent location, being just half a mile from HCA Florida St Petersburg Hospital, a 215-bed facility, and Hollins High School with a student enrollment of 1,700 students. In the...

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Key Features

  • Signalized intersection

  • Hard corner intersection

  • Dense retail corridor

  • Near major nationals

  • Top 100 MSA

  • Income tax free state

  • Long 10+ yr lease

  • Favorable NN+ lease

  • Corporate Guarantee

  • Publicly traded company

    • ...

Links

Sprouts Farmers Market Wikipedia Sprouts Farmers Market Wikipedia Kenneth City, Florida Zip Code 33709 Broker Site Page

Documents

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Sprouts Farmers Market, Inc. is one of the largest and fastest-growing specialty retailers of fresh, natural, and organic food in the United States. The supermarket chain offers a wide...


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Listing Broker

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