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Views: 160 DOM: 189 Updated: 08.27.24 Posted: 06.15.24 Status: Active

Summary

Price $5,320,646
Built/Renov 2006/2013
Tenant Hobby Lobby
Cap Rate 6.50%
Lease Type Double NN
Guarantor Corporate
Size/SF 49,406
Lease Start 02-12-2014
#Units 1,000
Price/SF $107.69
Expiration 02-28-2034
Tenant Type Big Box Retail
NOI $345,842
R. Term 9.2
Ownership Fee Simple
Rent/SF $7.00
Increases 0.0%/0/yrs
Pop 5Mi 124,929
Lot/AC 5.54
Options 2/5yrs
AHHI 5Mi $147,391

Lease Highlights

  • Hobby Lobby has 9+ years remaining on the current lease term with 2 (5-year) options to extend
  • The lease features $.50/PSF rental escalations throughout the initial term and option periods
  • Top ranking store
  • Corporate guaranteed lease

Location Description

Hobby Lobby is strategically located on Hudson Road, with access to 17,900 vehicles passing by daily. This location ranks among the top quarter of sites in Minnesota and the top half nationwide (Placer.ai). Moreover, it sits just half a mile south of the Interstate 94 on-ramp, which sees 106,905 VPD. Co-anchoring Woodbury Marketplace with Sam’s Club and Goodwill, it is also in proximity to key...

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Maps

  • 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 : 9,626 53,027 135,124
2024 Total Population : 8,734 50,479 128,132
2024 Employed Civilian Pop : 4,796 27,345 67,531
2024 Total Businesses : 301 2,005 3,320
2024 Average Household Income : $ 150,063 $ 167,323 $ 152,150
2024 Total Consumer Spending : $ 486 M $ 2745 M $ 6252 M
2024 Median Age : 40 40 39
2024 Total Households : 3,770 19,196 47,839
2024 Pop Age 25+: Bachelor's Degree : 2,611 13,797 30,458
2024 Average Home Value : $ 513,897 $ 515,552 $ 489,648
*ESRI data is presented for informational purposes only

Listing Broker

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