loader
Join Free
Views: 96 Updated: 09.30.24 Posted: 02.22.24 Status: Inactive 10.02.24

Summary

Price $14,655,000
Built/Renov 2023
Tenant Sprouts Farmers Market
Cap Rate 5.25%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 23,313
Lease Start 03-01-2024
#Units 407
Price/SF $628.62
Expiration 02-28-2039
Tenant Type Grocery
NOI $769,329
R. Term 14.1
Ownership Fee Simple
Rent/SF $33.00
Increases 10.0%/5/yrs
Pop 5Mi 272,105
Lot/AC 2.09
Options 3/5yrs/10%
AHHI 5Mi $84,657

Lease Highlights

  • New 2023 construction
  • Brand new 15-year lease with 3 (5-year) options to extend
  • The lease features 10% rental escalations every 5 years throughout the initial term and each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Sprouts Farmers Market is strategically located near the hard corner intersection of Panama Lane, a major east/west thoroughfare, and Wible Road, benefiting from access to a combined daily traffic count of 41,000 vehicles. The property is adjacent to State Highway 99 and situated in Bakersfield Crossings, a grocery/drug anchored shopping center, featuring prominent national tenants such as...

...

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...


...

Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 18,843 148,588 263,979
2023 Total Population : 19,185 148,377 262,825
2023 Employed Civilian Pop : 8,155 63,866 111,493
2023 Total Businesses : 500 3,268 7,151
2023 Average Household Income : $ 106,410 $ 83,810 $ 88,885
2023 Total Consumer Spending : $ 497 M $ 3097 M $ 6262 M
2023 Median Age : 31 30 31
2023 Total Households : 5,384 42,432 81,034
2023 Pop Age 25+: Bachelor's Degree : 1,108 10,084 21,442
2023 Average Home Value : $ 383,597 $ 335,659 $ 350,101
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Panama Ln Castleford St 2009 29,844 0.05 mi
Panama Ln Wible Rd 2017 31,570 0.11 mi
Panama Ln Fortune St 2017 40,142 0.21 mi
Wible Rd Pendragon St 2007 15,342 0.27 mi
Panama Ln Windrift Way 2017 30,939 0.28 mi
Wible Rd Auto Mall Dr 2004 14,150 0.32 mi
Akers Rd Panama Ln 2017 8,509 0.35 mi
Akers Rd Woodton Ave 2017 6,117 0.35 mi
Panama Ln Phyllis St 2014 43,638 0.44 mi
Wible Rd Harris Rd 2017 14,090 0.47 mi

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity