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T-Mobile

1201 Egg Harbor Road, Sturgeon Bay, WI 54235

$896,552

Cap Rate 7.25%

Views: 112 DOM: 238 Updated: 11.02.24 Posted: 04.09.24 Status: Active 04.09.24

Summary

Price $896,552
Built/Renov 2022
Tenant T-Mobile
Cap Rate 7.25%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,500
Lease Start 05-01-2022
#Units 7,994
Price/SF $358.62
Expiration 04-30-2032
Tenant Type Tel/Cell
NOI $65,000
R. Term 7.4
Ownership Fee Simple
Rent/SF $26.00
Increases 10.0%/5/yrs
Pop 5Mi 13,109
Lot/AC 1.36
Options 3/5yrs/10%
AHHI 5Mi $91,349

Randy Blankstein
The Boulder Group (HQ)
Contact

Jimmy Goodman
The Boulder Group (HQ)
Contact

Lease Highlights

  • New 2022 renovation features state-of-the-art design with high-quality materials
  • T-Mobile has 7 years remaining on primary term with 3 (5-year) options to extend
  • The lease features 10% rental increases every 5 years and at the beginning of each option period
  • Corporate guarantee (NASDAQ: TMUS)
  • Investment grade tenant (S&P: BBB)

Location Description

T-Mobile is strategically located along Egg Harbor Rd which averages over 8,000 vehicles per day. The subject property is directly across the street from Cherry Point Mall, a 134,000 SF regional mall anchored by Anytime Fitness, Dollar Tree, Dunham’s Sports, Shoe Sensation, T.J. Maxx, and more. Other nearby national/credit tenants include Walmart Supercenter, CVS Pharmacy, Target, Walgreens,...

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Key Features

  • Recent renovation

  • Major thoroughfare

  • Dense retail corridor

  • Highway close

  • Affluent suburb location

  • Major MSA

  • Brand new lease

  • Long 10+ yr lease

  • Traded and rated company

  • Over 2000 units backed

    • ...

Links

T-Mobile Wikipedia T-Mobile Wikipedia Sturgeon Bay, Wisconsin Zip Code 54235 Broker Site Page

Documents

Download OM

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 (NASDAQ: TMUS) is the brand name used by some of the mobile communications subsidiaries of the German telecommunications company Deutsche Telekom. The company provides mobile wireless...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 5,081 11,038 13,134
2023 Total Population : 5,036 11,015 13,109
2023 Employed Civilian Pop : 2,887 6,472 7,617
2023 Total Businesses : 340 849 961
2023 Average Household Income : $ 81,285 $ 87,870 $ 91,349
2023 Total Consumer Spending : $ 174 M $ 413 M $ 504 M
2023 Median Age : 46 48 50
2023 Total Households : 2,450 5,389 6,326
2023 Pop Age 25+: Bachelor's Degree : 766 1,714 2,122
2023 Average Home Value : $ 268,502 $ 275,649 $ 290,893
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N 14th Ave Egg Harbor Rd 2003 3,500 0.13 mi
N 14th Ave Egg Harbor Rd 2009 4,400 0.21 mi
Egg Harbor Rd N 14th Ave 2018 6,800 0.21 mi
Egg Harbor Rd Alabama St 2018 6,600 0.40 mi
Egg Harbor Rd N 8th Ave 2018 8,600 0.40 mi
N 8th Ave Erie St 2015 2,100 0.42 mi
Delaware St N 8th Ave 2009 980 0.43 mi
Alabama St N 18th Ave 2018 1,500 0.60 mi
N 18th Ave Alabama St 2003 2,100 0.63 mi
Alabama St N 18th Ave 2015 2,000 0.71 mi

Listing Broker

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