Hobby Lobby NNN Property For Sale
Hobby Lobby Stores, Inc. is a leading arts & crafts retailer known for its highly visible real estate and strong sales performance. The company consistently appears on the Forbes list of largest privately held corporations in the US, indicating a financially sound and attractive brand for investors. Lease terms typically range from five to fifteen years, with ten-year NNN leases being common. Hobby Lobby often offers initial lease terms of fifteen years with three five-year renewal options. While landlord responsibilities can vary, they are generally minimal regarding building maintenance costs.
- Asking price $8.00M
- 5.50% cap rate
- NOI $600,000
- 15 years remaining
- NNN lease
- Year built: 1972
- Building size: 60,000 SF
- Rent increases: Varies
- Guarantor: Corporate
Asset type: Retail