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Views: 28 DOM: 81 Updated: 04.11.24 Posted: 02.25.24 Status: Active

Summary

Price $1,314,000
Built/Renov 1987/2023
Tenant T-Mobile
Cap Rate 7.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,000
Lease Start 03-15-2024
#Units 7,994
Price/SF $657.00
Expiration 03-31-2034
Tenant Type Tel/Cell
NOI $92,000
R. Term 9.10
Ownership Fee Simple
Rent/SF $46.00
Increases 10.0%/5/yrs
Pop 5Mi 9,084
Lot/AC 0.77
Options 2/5yrs/10%
AHHI 5Mi $67,426

Lease Highlights

  • T-Mobile will be executing a brand-new 10-year lease with 2 (5-year) options to extend
  • The lease features 10% rental escalations throughout the initial term and option periods
  • Corporate guarantee (NASDAQ: TMUS)
  • Investment grade tenant (S&P: BBB)

Location Description

T-Mobile is strategically located on E Memorial Dr, a major retail thoroughfare, with access to 18,000 vehicles passing by daily. The property is conveniently situated near Ahoskie Commons, a shopping center featuring well-known national tenants including Food Lion, Tractor Supply Co, and more. Additionally, it is adjacent to New Market Shopping Center, a shopping center anchored by Citi...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: T-Mobile
  • Guarantor:Corp T and Rated
  • Company:T-Mobile US Inc
  • # Units:7,994
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock: NASDAQ: TMUS

About Tenant

T-Mobile is the brand name used by some of the mobile communications subsidiaries of the German telecommunications company Deutsche Telekom. The T-Mobile brand was introduced in 1996 and the name...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,987 6,285 8,710
2023 Total Population : 2,068 6,532 9,084
2023 Employed Civilian Pop : 774 2,602 3,658
2023 Total Businesses : 219 489 543
2023 Average Household Income : $ 67,493 $ 70,049 $ 67,426
2023 Total Consumer Spending : $ 52 M $ 173 M $ 234 M
2023 Median Age : 42 44 44
2023 Total Households : 867 2,762 3,874
2023 Pop Age 25+: Bachelor's Degree : 178 605 797
2023 Average Home Value : $ 189,421 $ 184,247 $ 169,323
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Memorial Drive Hwy 561 E 2022 19,301 0.17 mi
Catherine Creek Road E Myers St 2022 9,591 0.17 mi
Catherine Creek Road E 1st St 2022 4,247 0.55 mi
E Memorial Dr 2022 3,509 0.55 mi
Main Street N Lloyd St 2022 3,910 0.56 mi
E Memorial Dr 2022 10,768 0.58 mi
Rhue Street E Myers St 2022 858 0.60 mi
Rhue Street E 1st St 2022 1,767 0.69 mi
US 13/NC 42-561 S Maple St 2020 11,000 0.71 mi
Main Street W Main St 2022 3,150 0.82 mi

Listing Broker

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