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SPROUTS FARMERS MARKET 576 S Perkins Rd 27,833 SF Retail Building Memphis, TN 38117 $9,050,000 ($325.15/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Corporate lease | SFM LLC | 443+ operating locations across 28 U.S. states | Currently averaging 30 newly built stores annually
- Affluent surrounding area | $175,318 average household income within a 1-mile radius
- Strategically located on a signalized corner intersection with easy access | 49,050 VPD combined
- #1 most trafficked Sprouts Farmers Market in Tennessee via Palcer.ai
- Surrounding market has very high barriers to entry | The subject property has been operating as a grocery store since the 1960’s
- Located inside of dense retail corridor | 4.1M SF within a 1-mile radius
EXECUTIVE SUMMARY
Carl Brendes and Ransome Foose of Berkeley Capital Advisors are pleased to present for sale Sprouts in Memphis, TN. We welcome your review this attractive investment.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS Under Contract
Sale Type
Investment
Sale Condition
Build to Suit
Property Type
Retail
Property Subtype
Supermarket
Building Size
27,833 SF
Building Class
C
Year Built/Renovated
1964/2017
Price
$9,050,000
Price Per SF
$325.15
Cap Rate
6.50%
NOI
$588,000
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.35
Lot Size
1.83 AC
Zoning
CH
Parking
125 Spaces (4.49 Spaces per 1,000 SF Leased)
Walk Score®
Very Walkable (70)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 05-7016-0-0001C | Improvements Assessment | $2,402,960 |
| Land Assessment | $861,720 | Total Assessment | $3,264,680 |
PROPERTY TAXES
Parcel Number
05-7016-0-0001C
Land Assessment
$861,720
Improvements Assessment
$2,402,960
Total Assessment
$3,264,680
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SPROUTS FARMERS MARKET | 576 S Perkins Rd
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