Hobby Lobby

1960 W Ridge Rd, Rochester, NY
Deal Type:
Net Lease
Price:
$9,204,146
Cap Rate:
5.75%
Current Rent:
$529,238
Lease Type:
Triple Net
Lease Term:
12 years
Landlord Responsibilities:
Capital Improvements and Replacements
Renewal Options:
3, Five Year Options
Building Sq. Ft.:
55,129 SF
Rent Increases:
3% in Year 7; 3% In Each Renewal Term
Site Size:
Approx 5.12 Acres

Investment Highlights

  • COMMITMENT: Brand new construction 12-year NNN lease that will commence on April 28, 2023.
  • LOCATION: One Block away from 104/390 Interchange with over 100,000 vehicles per day.
  • CREDIT: Hobby Lobby is one of America’s largest companies by Forbes and is a national leader in arts and crafts with more than 980+ stores across the country. Hobby Lobby doesn’t carry any long term debt.
  • DEMOGRAPHICS: Property is located in an affluent trade area with an average household income of nearly $80,000 and a population of over 225,000.
  • SURROUNDING RETAIL: Situated in a dense retail corridor including: Home Depot, Wegmans, Chick Fil A, and The Mall at Greece Ridge, 1.9 Million SF of retail.

Listing Agents

Phil DiGennaro

Managing Director
203 610 1541
phil@stream-cp.com

Adam English

Managing Director
256 694 9803
Adam@stream-cp.com

Adam Baxter

Vice President
205 394 3520
abaxter@stream-cp.com

Jaymes Keenan, CBRE | Lic: 10401234545

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