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Views: 135 DOM: 168 Updated: 09.13.24 Posted: 05.13.24 Status: Sold 10.28.24

Summary

Price $3,573,000 $4,400,000
Built/Renov 1979/1993
Tenant Hobby Lobby
Cap Rate 8.31% 6.75%
Lease Type NN+
Guarantor Corporate
Size/SF 66,000
Lease Start 08-07-1999
#Units 1,000
Price/SF $54.14 $66.67
Expiration 02-28-2030
Tenant Type Big Box Retail
NOI $297,000
R. Term 5.1
Ownership Fee Simple
Rent/SF $4.50
Increases 0.0%/0/yrs
Pop 5Mi 74,200
Lot/AC 4.61
Options 2/5yrs
AHHI 5Mi $78,488

Lease Highlights

  • Hobby Lobby has been operating in this location since 1999
  • The tenant has 5+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features $0.50/PSF rental escalations at the start of each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Hobby Lobby is strategically located on East Disk Drive, with access to 12,622 vehicles passing by daily. The property is adjacent to Rushmore Mall, a regional mall, and is situated next to Interstate 90, which sees 24,700 VPD. Additionally, it is within proximity to Mount Rushmore National Memorial, Badlands National Park, Black Hills National Forest, and Nebraska National Forest. Nearby...

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Maps

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  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Hobby Lobby
  • Guarantor:Corporate
  • Company:Hobby Lobby Stores, Inc.
  • # Units:1,000
  • 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
2029 Total Population : 4,155 32,067 79,035
2024 Total Population : 4,114 30,564 75,756
2024 Employed Civilian Pop : 2,039 15,757 40,092
2024 Total Businesses : 356 2,783 4,906
2024 Average Household Income : $ 51,294 $ 63,469 $ 77,916
2024 Total Consumer Spending : $ 79 M $ 725 M $ 2199 M
2024 Median Age : 31 35 37
2024 Total Households : 1,727 12,873 32,027
2024 Pop Age 25+: Bachelor's Degree : 306 3,119 10,654
2024 Average Home Value : $ 262,595 $ 273,013 $ 328,298
*ESRI data is presented for informational purposes only

Listing Broker

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Eric Carlton

Colliers NNN Group

Contact
  • 180 Listings
  • 27591 Views
  • 63 Sold
Jereme Snyder

Colliers NNN Group

Contact
  • 168 Listings
  • 25602 Views
  • 59 Sold

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

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Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

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