Sprouts Farmers Market 4501 66th St N

The Snyder Carlton National Net Lease Team is pleased to offer to qualified investors an opportunity to acquire a brand-new single tenant net leased Sprouts Farmers Market in St. Petersburg, FL. Sprouts Farmers Market operates over 400 grocery stores across the U.S., plans to open an additional 35 stores in 2024 and has over $6.7 billion in annual revenue. The new NN lease comprises a 15-year primary term, four 5-year option periods, rent increases every 5 years and limited landlord responsibilities providing stable income for years to come.
The newly constructed 23,256 SF building on a 2.55-acre parcel is strategically positioned on the hard corner signalized intersection of 66th Street N and 46th Avenue N which have a combined traffic count exceeding 48,000 VPD. The subject property is a half mile from HCA Florida St Petersburg Hospital, a 215-bed facility, and Hollins High School with enrollment exceeding 1,700 students. Nearby retailers include At Home, Publix, Wells Fargo Bank, Auto Zone, Harbor Freight, McDonald’s, Taco Bell, Dunkin’ and more.
This is an excellent opportunity to purchase a newly constructed retail asset in the Tampa Bay MSA (3.2 million residents) on a long-term lease with 20 years in option periods, rent increases every 5 years and limited landlord responsibilities producing years of inflation resistant income.