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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
| Showing Instructions | |
|---|---|
| Call Listing Agent | No |
| Use Discretion | No |
| Detail Listing Information | |
|---|---|
| Min Total SF | 0 SF |
| Max Total SF | 0 SF |
| Lease Rate Low | $ 0.00 |
| Lease Rate High | $ 0.00 |
| Retail Information | |
|---|---|
| Signage | Signage on Building and Freestanding |
| Retail Asset Class Info | |
|---|---|
| Crane Tonnage | 0 |
| Building Information | |
|---|---|
| Building Status | Existing |
| # of Buildings | 1 |
| # of Floors | 1 |
| # of Units | 0 |
| Total Building SF | 424,612 SF |
| Net Rentable Area | 62,100 SF |
| Total Office SF | 0 SF |
| Largest Contiguous SF | 0 SF |
| Lot SF | 1,233,689 SF |
| Acres | 28.32 |
| Year Built | 1989 |
| Year Renovated | 2006 |
| Construction Type | Framed |
| Property Type | |
|---|---|
| Property Type | Retail |
| Location | |
|---|---|
| County | Linn |
| Market Area | Not Assigned |
| Tax ID # | 105433 |
| Zoning | RC |
| Parking Information | |
|---|---|
| #Covered Spaces | 0 |
| # Uncovered Spaces | 0 |
| Total Parking Spots | 0 |
Hobby Lobby | New 10-Year Lease | $0.50 Increases
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
Hobby Lobby | New 10-Year Lease | $0.50 Increases Every 5-Ye
1859 14th Ave SE Albany OR 97322
Listing #: 687176 | Status: Available | Listing Date: 9/23/2024 | Last Modified: 9/23/2024 | Email Listing
For Sale
Hobby Lobby | New 10-Year Lease | $0.50 Increases Every 5-Ye
