Hibbett Sports (Bolivar, TN)
1365 W Market st, Bolivar Tennessee 38008
Property Summary
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Price: $386,373
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CAP Rate: 7.50%
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Leasable Area: 4,800 SF
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Status: Available
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Lease Type: NN Double Net
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Lease Term Remaining: Estimated 6 Years
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Guarantee: Corporate
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NOI: $28,978
Investment Highlights
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Hibbett Sports in Bolivar, TN Lease is a Corporate Guarantee and recently extended lease for additional 6 years which is demonstrating the tenant’s commitment to the location
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Hibbett Sports (NYSE: HIBT) was founded in 1945 and has been a publicly traded company since 1996
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Recent Lease Extension | After 12 years, tenant extended lease till 2029 demonstrating their commitment to the location and working business model.
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The Lease Features an Attractive Increase Rental Structure during option period
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Above Average Traffic Counts | High Traffic Counts with counts exceeding more than 13,000 cars per day
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Successful Tenant Business Model | Publicly traded (NYSE: HIBB) and high margin business supports Hibbett Sports to a net worth of more than $660 million
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Hibbett Sports (NYSE: HIBT) annual revenue for 2022 was $1.7B, has an estimated 4,350 employees, and the revenue per employee ratio is $392,716
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The Company offers a range of athletic equipment, footwear and apparel. Its stores concepts are Hibbett Sports (NYSE: HIBT), Sports Additions, Sports & Co. and Hibbett Team Sales, Inc.
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Ideal Location with Neighboring & Anchor Tenants Such As: Tractor Supply, Dollar General, Dollar Tree, McDonalds, KFC, Fast Pace Urgent Care, O’Reilly Auto, Auto Zone and Several national brands
Neil Naran (Lead Contact)
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The Naran Group of Marcus & Millichap is a net lease investment group. Marcus & Millichap is the most dominant brokerage group in the country with more than 80+ offices and nearly 2,000 agents throughout the US and Canada. Marcus & Millichap currently closes more transactions than any other firm.