Interested in selling your Hobby Lobby NNN property or Hobby Lobby lease property and was wondering what you can get for it in today’s changing market?
Contact us for a complimentary broker opinion of value for your off-market Hobby Lobby NNN property for sale or Hobby Lobby ground lease property for investment, specifically tailored to support your 1031 exchange requirements. This valuable assessment will provide you with the necessary clarity to make informed decisions regarding the sale of your Hobby Lobby NNN property or the inclusion of a Hobby Lobby ground lease property in your investment portfolio. As specialists in working with 1031 exchange buyers seeking off-market Hobby Lobby properties, we are dedicated to delivering competitive offers with reduced fees to help you maximize your investment returns.
Number of locations
As of January 2023, Hobby Lobby has expanded its presence to include over 900 stores across the United States.
Revenue and income
In the fiscal year 2022, Hobby Lobby reported a total revenue of approximately $5.6 billion. The company’s net income for the same period was around $300 million.
Future plans
Hobby Lobby is committed to its growth strategy and plans to continue enhancing its offerings and customer experience. As part of its expansion plan, the company intends to open several new stores in strategic locations nationwide in 2023.
Corporate vs. franchise
All of Hobby Lobby’s stores are owned and operated by the company. The organization maintains a consistent approach to its retail operations, ensuring a unified customer experience across all locations.
Additional information Hobby Lobby Properties
Hobby Lobby, founded in 1972, started as a small arts and crafts store in Oklahoma City. The company is known for its commitment to providing a wide range of creative and artistic products. Hobby Lobby offers various products, including art supplies, home décor, fabrics, and seasonal items. The organization is recognized for its strong emphasis on family values and unique store closures on Sundays, aligning with its founders’ religious beliefs. Hobby Lobby is privately held and operated by the Green family, who remain actively involved in its operations and decision-making processes.
Hobby Lobby History
Hobby Lobby’s origins date back to 1972, when David and Barbara Green established a small arts and crafts store in Oklahoma City. Starting as a modest operation, the company grew steadily and gained recognition for its commitment to providing diverse creative products. The Green family’s dedication to their business values significantly shaped Hobby Lobby’s identity and success.
Why Invest in Ground Lease and NNN Lease of Hobby Lobby?
Investing in Hobby Lobby’s ground lease and triple net (NNN) lease properties offer compelling reasons:
1) Hobby Lobby NNN Property Investment: Stable income
Hobby Lobby’s strong reputation and popularity translate to consistent and reliable income. Ground and NNN leases provide a predictable revenue stream over the long term.
2) Hobby Lobby NNN Property Investment: Established tenant
The well-established brand of Hobby Lobby reduces the risk of lease defaults or vacancies, ensuring a steady tenant for the property.
3) Hobby Lobby NNN Property Investment: Low management responsibility
Ground and NNN leases shift property maintenance and operational responsibilities to the tenant, minimizing the landlord’s management obligations.
4) Hobby Lobby NNN Property Investment: Favorable lease terms
Extended lease periods with predetermined rent increases provide dependable income and the potential for rental growth.
5) Hobby Lobby NNN Property Investment: Real estate value
Hobby Lobby’s strategic locations in high-traffic areas can contribute to the appreciation of property value, offering potential capital gains.
Pros and Cons of Hobby Lobby Ground Lease and NNN Lease Investment
Pros:
1. Stable income from a well-established brand.
2. Established tenant reduces vacancy and lease default risks.
3. Minimal management responsibility for landlords.
4. Long lease terms provide stability and potential income growth.
Cons:
1. Lease renewal risk when the term expires.
2. Dependency on Hobby Lobby’s success.
3. Market saturation and competition affect profitability.
4. Limited control over property decisions.
5. Economic and market risks inherent in real estate investments.
To make well-informed investment choices, it is imperative to undertake comprehensive due diligence. Consider location, lease terms, tenant strength, and investment strategy. Seeking advice from real estate professionals and financial advisors is recommended to align your investment goals with your risk tolerance.