For Auction
Hobby Lobby Anchored Center I $1.45M NOI I 72% Occupied
Sterling, IL 61081Represented by
Brookwood Capital
Asset Snapshot
Offering Summary
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Investment Highlights
- NOI: $1,456,847.32
- 72% occupied with additional value-add through ±82,028 SF in availabilities
- Brand new 10-year Hobby Lobby lease thereby providing a strong national driver
- LOI's from TJMaxx and Big Lots and outparcel interest from AutoZone, O'Reilly Auto Parts, Chipotle, Panda Express, Dunkin' Donuts, and Thornton's
- New parking lot asphalt completed in 2022 ($500K in expense) and full building renovation completed in 2016 by current ownership
- Strong national retail center located 2 hours from Chicago
Offering Details
Brookwood Capital Advisors and RI Marketplace are pleased to present this 10-year Hobby Lobby anchored power center, a 292,959 square foot shopping center located in Sterling, IL. The Property generates a collective net operating income (NOI) of $1,456,847.32 with Hobby Lobby, Planet Fitness, and Dunham's Sports as its anchors. This is a value-add deal with long-term stability of nationals with recent LOI's from TJ Maxx & Big Lots for the remaining vacancy. Significant capital improvements in the center have been completed including a new parking lot in 2022 ($500K expense), and a full building renovation in 2016.A high cap deal with a fresh 10 year Hobby Lobby, significant Capex and room for TJ Maxx and Big Lots ready for acquisition.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
