Hobby Lobby
Retail / Posted 3 months ago by Deborah Vannelli, Upland Real Estate Group, Inc. / 91 views
- Price : $6,964,640
- Cap Rate : 7.0%
- Net Operating Income : $487,524.84
- Tenant : Hobby Lobby
- Lease Type : NN
- Lease Term Remaining (Years) : 6 Years
- Building Size (SF) : 61,712
- Land Area (Acres) : 4.07
- Year Built : 1982 / 2015
- Hobby Lobby is the largest privately owned arts-and-crafts retailer in the world with 900 Stores in 46 States.
- Hobby Lobby is subleasing from J.E. West Saint Paul 2014 LLC with 6 years remaining on the primary lease term. The master lease is guaranteed by Roundy’s, Inc., a subsidiary of Kroger. Roundy’s operates 150 retail stores in Wisconsin & Illinois. Kroger operates 2,755 stores in 35 states.
- Excellent location near Super Target, Wal-Mart and Lowe’s.
- Strong demographics with a 5-mile population of 224,310 and average household income of $86,278.
- High traffic counts in front of the property averaging 23,400 vehicles daily on South Robert Street.
- Large lot size over 4 acres.