Lowest cap rate over past 24 months
12 mo avg with 5+ yr lease term
|Average Sale Price||$4,000,000 - $12,000,000|
|Average NOI||$300,000 - $900,000|
|Building SF||55,000 - 65,000|
|Lease Term||15 Years|
As an industry leader in arts & crafts, Hobby Lobby Stores, Inc., can be seen in Forbes and Fortune’s list as one of the largest privately held corporations in the U.S. In addition to being financially solvent, they continue to expand, likely with attributions to their Christian rooted principles. They are known for their generosity and charitable works in local neighborhoods, as well as working with many different charities.
Back in 1972, Hobby Lobby started with just three hundred sq. ft. out of Oklahoma City, OK. They first began as a garage-based effort 2 years prior, headed by David Green. They worked with Greco Products, a picture frame manufacturer at first, then later with the Christian educational store Mardel alongside Hemispheres furnishings. With over 67k products ranging from crafts to home decorations, each of their 569 properties in the U.S. have average dimensions of 55k sq. ft.
|Headquarters||Oklahoma City, Oklahoma|
|Number of Locations||969|
|Key Principal||David Green|