Cabela’s

Lowest
Cap Rate

6.00%

Lowest cap rate over past 24 months

Average
Cap Rate

6.75%

12 mo avg with 5+ yr lease term

Overview

Cabela’s stores are often destination-style retail experiences, with building sizes ranging from 80,000 to 180,000 square feet on 10 to 25-acre parcels. Properties typically feature immersive environments such as indoor aquariums, archery ranges, and wildlife displays. Leases are generally absolute NNN and corporately guaranteed by Bass Pro Shops, with terms ranging from 15 to 25 years and rent escalations every 5 years. These locations are commonly found near interstates, regional shopping centers, or entertainment complexes.

Average Property & Lease

Average Sale Price	$15,000,000 – $25,000,000
Average NOI	$900,000 – $1,600,000
Building SF	80,000
Lease Term	15 Years
Escalations	10% Every 5 Years
Stock Symbol	N/A

CREDIT RATING

S&P	N/A
Moody's	N/A

TENANT DESCRIPTION

Cabela’s was founded in 1961 by Richard N. Cabela in Chappell, Nebraska, originally as a mail-order fishing gear business. It quickly grew into one of the nation’s largest specialty retailers of hunting, fishing, and outdoor gear. In 2017, Cabela’s merged with Bass Pro Shops, consolidating two of the most well-known names in the outdoor sporting goods industry under a single private ownership structure while retaining its branding and store operations.

Founded	1961
Headquarters	Sidney, NE
Number of Locations	80
Revenue	$4 B
Company Website	https://www.cabelas.com
Key Principal	Johnny Morris

Cabela’s

Lowest Cap Rate

6.00%

Average Cap Rate

6.75%

Overview

Average Property & Lease

CREDIT RATING

S&P

N/A

Moody's

N/A

TENANT DESCRIPTION

PROS

CONS

COMPANY QUICK STATS

Lowest
Cap Rate

Average
Cap Rate