Hibbett Sports Vernal, Utah

$700,635
Cap Rate: 7.85%
Available
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 7.85%
Price: $700,635
Rentable Square Feet: 4,536
Price PSF: $154.46
Annual Rent: $55,000
Rent PSF: $12.13
Land Area: 0.598 Acres
Year Built: 2013
Lease Guarantor: Corporate
Lease Type: NN
Term Remaining: 3 Years
Lease Expiration: 10/31/2023

1495 West Highway 40
Vernal, UT 84078

Investment Highlights

  • Long Term, Double Net Lease with Three Years Remaining on Base Term
  • Located in Busy Retail Area off Highway 40, with a Daily Traffic Counts of More Than 21,420 Vehicles
  • Within Close Proximity to Salt Lake City; 20 Miles from Colorado State Border
  • Surrounding National Retailers Include Walmart Supercenter, Lowe’s, Bealls, Harbor Freight Tools, Anytime Fitness, Aaron’s, Petco, Wells Fargo, McDonald’s, Pizza Hut, Wendy’s, Walgreens and Many More

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Hibbett Sports in Vernal, Utah. This Hibbett Sports has a long term, double net (NN) lease with three years remaining on the base term. This is a corporate lease with Hibbett Sports, Inc. a publicly traded holding company for Hibbett Sporting Goods, which is a leading athletic-inspired fashion retailer with more than 1,000 stores in 32 states.

Hibbett Sports is located in busy retail area off Highway 40 with a daily traffic count of more than 21,400 vehicles. Surrounding national retailers include Walmart Supercenter, Lowe’s, Bealls, Harbor Freight Tools, Anytime Fitness, Aaron’s, Petco, Wells Fargo, McDonald’s, Pizza Hut, Wendy’s, Walgreens and many more.

Vernal, Utah is within close proximity to Salt Lake City and is 20 miles from the Colorado state border. Vernal is home to the Uintah and Ouray Indian Reservation which is the second largest Indian Reservation in the United States and covers over 4.5 million acres. It is estimated that 72 percent of the world’s oil shale reserves are found in the Green River Formation in Utah. These are the richest deposits of oil shale in the United States.


Phil Brierley
Broker of Record
Lic.# 10385788-PB00
Phil.Brierley@marcusmillichap.com

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