4107 Broadway St Mount Vernon, IL 62864

This exceptional investment opportunity presents a fee-simple ownership of a 52,729 square foot Hobby Lobby store in Mount Vernon, Illinois. Located at 4107 Broadway St, 62864, this strategically positioned property benefits from high traffic counts due to its proximity to major highways (I-57 and I-64) and its location within Times Square Mall (2.3M visits/year). The property sits on a 1.24-acre lot and boasts a strong 100% occupancy rate under a corporate-guaranteed, net lease (NNN) with Hobby Lobby, the nation's largest privately owned arts and crafts retailer. The current lease, commencing July 1, 2014, and expiring June 30, 2034, has a remaining term of 9.6 years, with built-in rent bumps of $0.25/SF every five years, providing a hedge against inflation. The current rent is $5.50/SF, significantly below market rates estimated at $10.00-$12.00/SF. The property features a strong NOI of $290,010 and a 6.75% cap rate. Built in 1974 and renovated in 2014, the property includes a transferable 15-year roof warranty extending to May 2029, minimizing landlord responsibilities. The lease includes three, five-year options, further securing long-term income potential. This is the only Hobby Lobby within a 50+ mile radius, ensuring a dominant market position. The asking price is $4,295,000.