Hobby Lobby

3917 Broadway Street, Mount Vernon, IL 62864

$4,461,685

Cap Rate 6.50%

Views: 89 DOM: 310 Updated: 05.01.24 Posted: 11.11.23 Status: Active

Summary

Price $4,461,685	Built/Renov 1974/2014	Tenant Hobby Lobby
Cap Rate 6.50%	Lease Type NN+	Guarantor Corporate
Size/SF 52,729	Lease Start 08-01-2021	#Units 994
Price/SF $84.62	Expiration 06-30-2034	Tenant Type Big Box Retail
NOI $290,010	R. Term 9.9	Ownership Fee Simple
Rent/SF $5.50	Increases 0.0%/11/yrs	Pop 5Mi 19,123
Lot/AC 1.24	Options 3/5yrs	AHHI 5Mi $67,331

Christopher Twist

Colliers NNN Investments

Contact

Lease Highlights

Hobby Lobby recently signed a new 10-year lease extension
The lease features rent increases of $0.25/SF in each of the 3 (5-year) renewal options
Favorable NN+ lease with landlord responsibilities limited to roof & structure
Corporate guaranteed lease

Location Description

Hobby Lobby is strategically located along Broadway Street (Highway 15), with clear visibility and access to 19,200 vehicles passing by daily. Direct entry to Interstate 57 in the west, connecting to St. Louis via Interstate 64, further enhances the property's accessibility. Positioned in the southeast quadrant of Broadway and I-57, the property benefits from excellent visibility due to its...

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Key Features

Major thoroughfare
Big Box center
Strategically located
Freeway close
Highway location
Strong tenant synergy
Top 100 MSA
Recently extended lease
Favorable NN+ lease
Corporate Guarantee

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Links

Hobby Lobby Wikipedia Hobby Lobby Wikipedia Mt. Vernon, Illinois Zip Code 62864 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Hobby Lobby
Guarantor:Corporate
Company:Hobby Lobby Stores, Inc.
# Units:994
Stock:Private

About Tenant

Hobby Lobby Stores, Inc. is an industry-leading home decor and craft retailer. The company operates a retail chain offering craft & jewelry supplies, picture framing, fashion fabrics, artificial...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,389	14,503	18,992
2023 Total Population :	4,465	14,699	19,269
2023 Employed Civilian Pop :	2,009	6,141	8,379
2023 Total Businesses :	358	1,113	1,224
2023 Average Household Income :	$ 74,376	$ 71,430	$ 73,562
2023 Total Consumer Spending :	$ 144 M	$ 403 M	$ 536 M
2023 Median Age :	46	41	42
2023 Total Households :	2,227	6,418	8,297
2023 Pop Age 25+: Bachelor's Degree :	585	1,383	1,950
2023 Average Home Value :	$ 153,553	$ 131,158	$ 138,686

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Broadway St	Westwood Dr	2013	23,600	0.15 mi
S 42nd St	Times Square Mall	2011	9,100	0.16 mi
Crown Vw	Broadway St	2011	450	0.17 mi
Broadway St	Crown Vw	2005	24,500	0.18 mi
S 42nd St	Lasalle St	2001	9,900	0.19 mi
S 42nd St	Rose Ln	2011	6,400	0.22 mi
Westwood Dr	Broadway St	2011	550	0.23 mi
Sunset Dr	Broadway St	2011	250	0.25 mi
Crownview	Crown Vw	2011	225	0.27 mi
Rose Ln	S 42nd St	2011	1,050	0.29 mi

Listing Broker

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