- For Sale $4,400,000
- Property Type Other
- Property Size 66,000 SF
- Lot Size 4.61 SF
- Date Updated May 4, 2024
The Snyder Carlton National Net Lease Team is pleased to present an opportunity to acquire a single tenant net leased Hobby Lobby in the Black Hills of South Dakota. Rapid City is the second largest city in the state with a population exceeding 78,000, is situated between Badlands National Park, Black Hills National Forrest, and Nebraska National Forrest and is 30 minutes from the iconic Mount Rushmore National Memorial.
Hobby Lobby operated over 1,000 stores across 48 states and has demonstrated the strength of this location with over 24 years of successful occupancy. With 5.8 lease years remaining in the primary term, two 5-year option periods rental increases every 5 years and limited landlord responsibilities, this asset is ideal for an opportunistic investor seeking inflation resistant income with low downside risk.
The subject property is located on E Disk Drive, which sees 12,622 VPD, and is right off Interstate 90 which sees 24,700 VPD. Nearby retailers include Lowe’s Home Improvement, Walmart Supercenter, Target, Sam’s Club, Scheels, Fleet Farm, Starbucks, Panera Bread, Olive Garden and more. This is an excellent opportunity to own a net leased single-tenant retail asset in the Black Hills of South Dakota with a corporate signed lease, rent increases and limited landlord responsibilities providing years of inflation resistant cash flows.
Available
Want more info on this listing?
Reach out to the broker for more info on lease terms and amenities
Attachments
False
Contacts
Eric Carlton
Jereme Snyder
Tina Volpe
Location
Getting Around
-
Walk Score ®
43/100
Car-Dependent
-
Bike Score ®
17/100
Somewhat Bikeable
- City Rapid City, SD
- Neighborhood Rushmore Mall
- Zip Code 57701
Points of Interest
-
I-90 Service Center
0.15 miles
-
Corner Pantry
0.17 miles
-
Rapid City, SD Supercharger
0.30 miles
-
Exxon
0.34 miles
-
Sam's Club
0.75 miles
-
Sinclair
0.83 miles
-
Loaf 'N Jug
0.96 miles
-
Corner Pantry
1.40 miles
-
Tidal
1.41 miles
-
Holiday
1.41 miles
-
City Parking Lot
2.22 miles
-
South Parking Lot
2.70 miles
-
North Parking Lot
2.74 miles
-
Truck Parking
3.42 miles
-
Comfort Inn & Suites Parking
3.77 miles
-
Golf Course
4.69 miles
-
Employee Parking
4.70 miles
-
Fishing
5.31 miles
-
Boat Ramp/Fishing
5.55 miles
-
Rental Car Parking
8.55 miles
-
Country Inn & Suites
0.10 miles
-
Best Western Ramkota Hotel
0.14 miles
-
Super 8
0.21 miles
-
Econo Lodge
0.25 miles
-
Holiday Inn Express & Suites
0.29 miles
-
Grand Gateway Hotel
0.37 miles
-
Hilton Garden Inn Rapid City
0.39 miles
-
Motel 6
0.40 miles
-
Ramada
0.40 miles
-
Microtel Inn & Suites
0.43 miles
-
Guadelajara
0.10 miles
-
Denny's
0.16 miles
-
Minervas Restaurant and Bar
0.17 miles
-
Burger King
0.21 miles
-
Boston's Restaurant & Sports Bar
0.21 miles
-
Dickey's Barbecue Pit
0.29 miles
-
Fuji Asian Express
0.29 miles
-
Arby's
0.30 miles
-
DQ Orange Julius
0.32 miles
-
Taco John's
0.32 miles
-
Knollwood Heights Elementary
0.54 miles
-
Oglala Lakota College
0.60 miles
-
North Middle School
0.69 miles
-
General Beadle Elementary
1.04 miles
-
South Dakota Mines
2.36 miles
-
Rapid City High School
2.46 miles
-
Wilson Elementary
2.96 miles
-
South Middle School
3.10 miles
-
Robbinsdale Elementary
3.17 miles
-
South Park Elementary
3.18 miles
-
Youth & Family Services
1.14 miles
-
Youth & Family Services
2.39 miles
Frequently Asked Questions
What is the lease rate for Hobby Lobby | 24 Years of Successful Occupancy?
Rental asking rate at Hobby Lobby | 24 Years of Successful Occupancy is $2,200,000.00/YR.
What is the total square footage of Hobby Lobby | 24 Years of Successful Occupancy?
Hobby Lobby | 24 Years of Successful Occupancy totals 66,000 square feet.
Looking for more in-depth information on this property?
Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.
