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Sprouts - Venice FL 1120 Jacaranda Blvd 23,250 SF 4-Star Retail Building Venice, FL 34292 $15,074,000 ($648.34/SF) 5.40% Cap Rate
Investment Highlights
- Brand New 20-Year Lease | Scheduled Rent Increases | Options to Extend | Established Grocery Operator | Strong Earnings
- Part of Retail Development | Marlowe Jacaranda Retail Outparcels |Dense Consumer Base | South of I-75 | Wellen Park | 2025 Construction
- NN Leased | Fee Simple Ownership | No State Income Tax | Limited Landlord Responsibilities
- Strong Demographics In 5-mile Trade Area
Executive Summary
• The tenant recently signed a brand new 20-year lease with 4 (5-year) options to extend
• The lease features $1.00/SF rent increases every 5 years including options, generating NOI and hedging against inflation
• The tenant is currently paying far below market rents in Orange County
• Headquartered in Phoenix, AZ, Sprouts employs approximately 35,000 team members and operates more than 450 stores in 24 states nationwide
• In their most recent earnings report, Sprouts reported same-store comp growth of 10.2% and net sales increased 17%
• The lease features $1.00/SF rent increases every 5 years including options, generating NOI and hedging against inflation
• The tenant is currently paying far below market rents in Orange County
• Headquartered in Phoenix, AZ, Sprouts employs approximately 35,000 team members and operates more than 450 stores in 24 states nationwide
• In their most recent earnings report, Sprouts reported same-store comp growth of 10.2% and net sales increased 17%
Property Facts
Sale Type
Investment
Property Type
Building Size
23,250 SF
Building Class
B
LoopNet Rating
4 Star
Year Built
2025
Price
$15,074,000
Price Per SF
$648.34
Cap Rate
5.40%
NOI
$813,960
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
2.20 AC
Zoning
Commercial - Commercial
Parking
95 Spaces (4.09 Spaces per 1,000 SF Leased)
Amenities
- Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 0423-01-0005 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $584,760 |
Property Taxes
Parcel Number
0423-01-0005
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$584,760
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Sprouts - Venice FL | 1120 Jacaranda Blvd
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