3535 Panama Ln | Bakersfield, CA 93313
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- LoopNet Team
3535 Panama Ln
Bakersfield, CA 93313
Sprouts Farmers Market · Retail Property For Sale
Investment 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)
- 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' CAM contribution is fixed for the 1st year with 3% annual increases. Current CAM expenses are lower than CAM income, creating additional NOI
- New 15-year lease eliminates landlord leasing & capital expenses, creating a secure cash flow. Scheduled 10% rent increasses every 5 years
- Sprouts is part of Bakersfield Crossings Center, which includes Walgreens, T-Mobile, Carl’s Jr., AutoZone, Wells Fargo, fitness, dining and more.
Property Facts
Property Type
Retail
Property Subtype
Building Size
23,313 SF
Building Class
B
LoopNet Rating
4 Star
Year Built
2023
Tenancy
Single
Building Height
1 Story
Building FAR
0.26
Lot Size
2.09 AC
Zoning
C-2 - Regional Commercial
Parking
96 Spaces (4.18 Spaces per 1,000 SF Leased)
Frontage
435’ on Panama Lane
Property Taxes
| Parcel Number | 515-032-61-00-3 | Improvements Assessment | $8,160,000 |
| Land Assessment | $1,139,238 | Total Assessment | $9,299,238 |
Property Taxes
Parcel Number
515-032-61-00-3
Land Assessment
$1,139,238
Improvements Assessment
$8,160,000
Total Assessment
$9,299,238
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