1859 14th Ave SE
Albany OR 97322

Hobby Lobby | New 10-Year Lease | $0.50 Increases Every 5-Ye

1859 14th Ave SE Albany OR 97322

Listing #: 687176 | Status: Available | Last Modified: 9/23/2024 |

For Sale
Clayton Brown
Showing Instructions
  • Call Listing AgentNo
  • Use DiscretionNo
016-Realiant Photography-HobbyLobby.jpg
Price Information
  • Listing Price$ 6,450,000.0
  • $/SF$ 15.2
  • Listing StatusAvailable
  • Days on Market3
  • Asset ClassRetail
  • Terms
Investment Information
  • Investment Type
Detail Listing Information
  • Min Total SF0
  • Max Total SF0
  • Lease Rate Low$ 00.0
  • Lease Rate High$ 00.0
  • Heat Source
  • Total Units
Utilities
  • Water
  • Electricity
  • Storm Sewer
Retail Information
  • SignageSignage on Building and Freestanding
  • Anchor
Retail Asset Class Info
  • Crane Count
  • Crane Tonnage0
  • Clearance Height Min
  • Clearance Height Max
  • Bay Depth
  • Second Road Front
  • Grade Level Door Count
  • Tennant Improvement Allowance
Building Information
  • Building StatusExisting
  • # of Buildings1
  • # of Floors1
  • # of Units0
  • # of Elevators
  • Clearance Height Min
  • Clearance Height Max
  • Bay Depth
  • Total Building SF424612
  • Net Rentable Area62100
  • Total Office SF
  • Largest Contiguous SF
  • Lot SF1233689
  • Acres28.32
Property Type
  • Property TypeRetail
  • Office Type
  • Building Class
Location
  • CountyLinn
  • Vicinity
  • Location Description
  • Second Address
  • Cross Street
  • Market AreaNot Assigned
  • Tax ID #105433
  • Additional Parcels769888
  • ZoningRC
Parking Information
  • # Covered Spaces0
  • # Uncovered Spaces0
  • Total Parking Spots0
  • Parking Ratio
Construction
  • Year Built1989
  • Year Renovated2006
  • Completion Date
  • Roof Type
  • Construction TypeFramed

Hobby Lobby | New 10-Year Lease | $0.50 Increases

Public Comments

Marcus & Millichap's Brown Retail Group has been selected to exclusively market for sale an AAA Location Corporate Hobby Lobby featuring below-market rent and 10 years of term located in Albany, OR. The Property is located in the central Albany, OR trade area and situated on an endcap of the Heritage Mall which receives over 3.3 million visitors annually and provides strong visibility, ample parking and multiple access points. The Property benefits from paying well below market rents with achievable anchor rents in the sub market being in the $13-$15 range providing for long term stability and upside. The Property features $0.50/SF rent increases every 5 years (7.5% rent increase in 5 years) with $0.75/SF rent increases starting in the 2nd option period. The cap rate increases to 6.98% wi

Listing Images