1851 US Highway 82 S
Tifton, GA 31793
Hobby Lobby · Retail Property For Sale

TENANT: Hobby Lobby Stores, Inc. (Hobby Lobby) is a US-based retail company. The company provides broad mix of products, including arts and crafts supplies, fashion fabrics, baskets, silk flowers, needlework, wearable art, picture framing, cards, party supplies and furniture. Its product portfolio covers more than 70,000 items under the store channel. LONG-TERM NET LEASE WITH RENT ESCALATIONS: Hobby Lobby’s 15-year net lease, which contains minimal landlord responsibilities, has ±11.8 years of primary term remaining with $0.50 PSF rent escalations every 5-years during the initial term and in each of its four 5-year options. BONUS BILLBOARD INCOME: The offering includes a ground lease to a billboard company with over 9 years of term remaining. The rent (25% of gross receipts) was approximately $4,000 in 2018. ATTRACTIVE ASSUMABLE DEBT: The property is encumbered by attractive debt with terms that are unattainable in today’s environment. The assumable loan features an interest rate of 4.5%, amortization period of 25 years, LTV of 56%, and a maturity of 8/31/2031.