Listed by Trinity Commercial Group
$9,900,000
Hobby Lobby
Details
Property Type Retail
Sub Type Storefront
Square Footage 55,000
Cap Rate 5.50%
NOI $577,500
Tenancy Single
Brand/Tenant Hobby Lobby
Lease Expiration 10/31/2031
Rent Bumps Yes
Price per SqFt $180
Year Built 2016
Acreage 6.450
Ownership Fee Simple
Retail | 5.37% CAP 55,000 SF
Marketing description
Hobby Lobby is irreplaceable real estate located on the NWC of US 41 & Triangle Blvd in Naples, Florida.
Investment highlights
- Cap Rate: 5.5%
- 15-year base term with over 8 years remaining
- Below market rent at $10.50 psf with increases every 5 years
- Strong demographics and incomes
- Base Term Expiration November 2031
- Irreplaceable real estate in Naples, FL
- Phenomenally successful brand in Hobby Lobby
- Located in one of the top trade areas in Southwest, FL
Listing Contacts
Listed by Trinity Commercial Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$577,500.00
$48,125.00/mo
Valuation Metrics
0
DSCR
5.83%
Cap Rate
5.83%
ROI
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Property History
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