Retail    

Hobby Lobby — Anchored Center

 Olean, NY

Asking Price

$7,568,000

Cap Rate

7.50%

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Lot Size

± 11.62 AC

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Year Built

1995

Expansion

GLA

± 114,948 SF

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Population (5-Mile)

22,990

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Avg HHI (1-Mile)

$76,734

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Tenants

4

For more details on this exclusive listing

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INVESTMENT HIGHLIGHTS

  • Primary Retail Corridor
    Less than one mile from St. Bonaventure University | Development surrounded by area grocers Aldi, Walmart, Tops, & BJs Wholesale | Good traffic volume with 20K VPD on W State Street | Signalized intersection at W State Street and S 28th Street | Shared entrance with Aldi
  • Excellent Tenant Mix
    Anchored by national retailers Hobby Lobby and Marshalls | Market vacancy is low at 3.2% | Approximately 6.5 years of WALT for the four tenants
  • Potential Upsides
    Outlot development opportunity – ask Listing Agent for more information | Hobby Lobby is paying low rent at $4.00 psf NNN | New roof installed in 2018
  • Placer.ai Chain Rankings
    Ollie’s Bargain Outlet ranked #1 nationally for visits, sales, and transactions.

Exclusively Listed By

Patrick Metz

Associate Vice President
  pmetz@northmarq.com      513.906.5397

Ryan Roedersheimer

Senior Vice President
  ryanr@northmarq.com   

Steven Di Iorio

Associate
  sdiiorio@northmarq.com   

In Association With:
John Rotunno

NY Lic. #10491208850

Northmarq

1101 St Gregory St, Suite 345
Cincinnati, OH 45202


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