3535 Panama Ln - Supermarket FOR SALE
Bakersfield, CA 93313 |
$14,650,000 USD
818-259-0476
3535 Panama Ln
Bakersfield, CA 93313
HIGHLIGHTS
- Corporate NNN lease with Sprouts Farmers Market (NASDAQ: SFM) - a national chain organic grocery with more than 420 stores and $6.8B revenue (2023)
- New 15-year lease eliminates landlord leasing & capital expenses, creating a secure cash flow. Scheduled 10% rent increasses every 5 years
- As a build-to-suit with fee-simple ownership, investors can benefit from new construction and depreciation tax benefits to enhance post-tax cash flow
- Sprouts is part of Bakersfield Crossings Center, which includes Walgreens, T-Mobile, Carl’s Jr., AutoZone, Wells Fargo, fitness, dining and more.
- Sprouts' CAM contribution is fixed for the 1st year with 3% annual increases. Current CAM expenses are lower than CAM income, creating additional NOI
FOR SALE DETAILS
PRICE
$14,650,000 USD
PRICE/SF
$628 USD /SF
CAP RATE
5.25%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Sprouts Farmers Market
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Supermarket
ADD'L SUBTYPES
Convenience Store, Freestanding, Restaurant
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2023
SPRINKLERS
-
PARKING SPACES
96
LAND DETAILS
LAND ACRES
2.09 AC
LAND SF
91,040 SF
ZONING
-
APN/PARCEL ID
515-032-40-00-2,515-032-41-00-5,515-032-44-00-4,515-032-55-00-6
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818-259-0476
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818-259-0476
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