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Views: 50 DOM: 171 Updated: 04.11.24 Posted: 11.28.23 Status: Active

Summary

Price $1,133,000
Built/Renov 2007/2023
Tenant T-Mobile
Cap Rate 7.50%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,000
Lease Start 12-01-2023
#Units 7,994
Price/SF $566.50
Expiration 12-01-2033
Tenant Type Tel/Cell
NOI $85,000
R. Term 9.6
Ownership Fee Simple
Rent/SF $42.50
Increases 10.0%/5/yrs
Pop 5Mi 7,001
Lot/AC 0.80
Options 2/5yrs/10%
AHHI 5Mi $60,303

Lease Highlights

  • 2023 remodel that features high quality materials, distinct design elements, and high level finishes
  • T-Mobile recently signed a brand-new 10-year lease with 2 (5-year) options to extend
  • Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
  • Corporate guaranteed lease | Investment grade tenant

Location Description

T-Mobile is strategically located at the signalized, hard corner Intersection of W Floyd St and S Pierce Street, with access to 11,900 vehicles passing by daily. The property boasts excellent visibility and accessibility. The immediate trade area is surrounded by national retailers such as Dollar General, McDonald’s, O’Reilly, Family Dollar, and more. The 5-mile trade area is supported by a...

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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 : 2,336 4,669 6,912
2023 Total Population : 2,352 4,732 7,001
2023 Employed Civilian Pop : 602 1,461 2,353
2023 Total Businesses : 222 288 329
2023 Average Household Income : $ 44,665 $ 55,157 $ 60,303
2023 Total Consumer Spending : $ 32 M $ 84 M $ 141 M
2023 Median Age : 37 39 39
2023 Total Households : 817 1,721 2,644
2023 Pop Age 25+: Bachelor's Degree : 44 139 241
2023 Average Home Value : $ 117,231 $ 145,346 $ 150,689
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Pierce St Williams Ave 2005 7,800 0.19 mi
N Pierce St W 21st St 2005 9,300 0.27 mi
Radio Station Road N Wayne St 2021 2,180 0.31 mi
North Pierce Street E 14th St 2021 10,400 0.32 mi
North Pierce Street E 20th St 2019 10,100 0.32 mi
North Pierce Street E 20th St 2018 9,820 0.32 mi
West 16th Street S Glynn St 2018 6,130 0.52 mi
West 16th Street S Glynn St 2021 5,770 0.52 mi
North Pierce Street Magnolia Dr 2021 7,440 0.52 mi
North Pierce Street Williams Ave 2019 7,120 0.52 mi

Listing Broker

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