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Sprouts Farmers Market 3535 Panama Ln 23,313 SF 4-Star Retail Building Bakersfield, CA 93313 $14,105,000 ($605.03/SF) 6% Cap Rate
Investment Highlights
- New (2024), pride-of-ownership, build-to-suit Sprouts Farmers Market with approximately 13 years remaining on the lease.
- Extremely rare 10% rent increases every 5 years, compared to typical Sprouts leases and other alternative net lease grocery investment opportunities.
- Fee simple ownership providing investors with depreciation benefits.
- Triple Net (NNN) Lease featuring minimal landlord responsibilities limited to maintaining and replacing the roof and structure.
- Corporately guaranteed by Sprouts Farmers Market (NASDAQ: SFM), a publicly traded company with more than 490 locations across 25 states.
- Sprouts Farmers Market (NASDAQ: SFM) is a leading national grocery retailer with more than 490 locations across the United States.
Executive Summary
Sands Investment Group is pleased to exclusively offer for sale the new construction, pride of ownership, freestanding Sprouts Farmers Market located at 3535 Panama Lane in the City of Bakersfield, California. With approximately 13 years remaining on the primary term of the lease, this asset offers an investor long term security backed by 1 of the fastest growing specialty grocery retailers in the country. Sprouts Farmers Market (NASDAQ: SFM) operates over 490 locations within 25 states and generated annual revenue of $8.81 billion in 2025 recognizing a 14.08% increase year-over-year. The lease features extremely rare 10% rental increases every 5 years, compared with other alternative grocery opportunities, providing a new investor with a strong hedge against inflation. Bakersfield is California’s 9th largest city and remains one of the fastest growing major municipalities in the state offering additional security for an investor. The subject property benefits from its location within a larger destination oriented shopping center featuring cross shopping synergy from the adjacent retailers including Walgreens, AutoZone, Wells Fargo, Carl’s Jr., and others. This location benefits from dense infill & affluent demographics with a population of over 140,000 and average household incomes exceeding $72,000 within 3-miles. The property features high traffic counts in excess of 40,000 vehicles per day and is strategically located adjacent to State Highway 99. Other nearby retailers include Lowe’s, In-N-Out Burger, Albertsons, Walmart Supercenter, Costco, and more.
In Cooperation With Sands Investment Group, Inc - Lic. #1768950
In Cooperation With Sands Investment Group, Inc - Lic. #1768950
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
23,313 SF
Building Class
B
LoopNet Rating
4 Star
Year Built
2024
Price
$14,105,000
Price Per SF
$605.03
Cap Rate
6%
NOI
$846,262
Tenancy
Single
Building Height
1 Story
Building FAR
0.26
Lot Size
2.09 AC
Zoning
C-2 - Regional Commercial
Parking
96 Spaces (4.12 Spaces per 1,000 SF Leased)
Frontage
435’ on Panama Lane
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Sprouts Farmers Market
- Retailer
- 23,313 SF
- -
- Triple Net
- Feb 2039
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Sprouts Farmers Market | Retailer | 23,313 SF | - | Triple Net | Feb 2039 |
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
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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