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Views: 111 DOM: 712 Updated: 09.10.24 Posted: 01.09.23 Status: Active

Summary

Price $1,395,000
Built/Renov 2009
Tenant AT&T
Cap Rate 5.85%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 4,220
Lease Start 03-07-2011
#Units 5,528
Price/SF $330.57
Expiration 08-31-2026
Tenant Type Tel/Cell
NOI $81,614
R. Term 1.8
Ownership Fee Simple
Rent/SF $19.34
Increases 5.0%/3/yrs
Pop 5Mi 305,279
Lot/AC 0.80
Options 2/5yrs/5%
AHHI 5Mi $67,005

Lease Highlights

  • AT&T exercised a 5-year extension in August of 2021
  • Tenant has 3 years of term remaining with 2 (5-year) options
  • Lease features 5% rental increases in each option period
  • Ranked 13th on the Fortune 500 of largest U.S. corporations as of 2022
  • Corporate guaranteed by AT&T, Inc.

Location Description

This AT&T is located on the heavily traveled Gratiot Ave., which sees in excess of 61,000 VPD, and is equipped with a drive-through for future re-development opportunities. The site benefits from strong demographics, with a population of 305,279 within a 5-mile radius, and an AHHI of $67,055. The property also benefits from strong consumer spending of $183,000,000 within a 1-mile radius, and...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: AT&T
  • Guarantor:Corp T and Rated
  • Company:AT&T, Inc.
  • # Units:5,528
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock: NYSE: T

About Tenant

AT&T Inc. is an American multinational telecommunication holding company. In addition to telephone, data, and video telecommunications, AT&T provides mobile communications and internet services for...


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Demographics

  1 Miles 3 Miles 5 Miles
2027 Total Population : 16,919 128,429 306,872
2022 Total Population : 17,062 129,942 308,686
2022 Employed Civilian Pop : 8,070 63,556 148,762
2022 Total Businesses : 412 4,009 8,952
2022 Average Household Income : $ 67,317 $ 76,825 $ 79,009
2022 Total Consumer Spending : $ 429 M $ 3699 M $ 8839 M
2022 Median Age : 40 43 43
2022 Total Households : 7,333 55,577 129,434
2022 Pop Age 25+: Bachelor's Degree : 1,441 13,362 34,711
2022 Average Home Value : $ 164,312 $ 183,236 $ 188,593
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
E 12 Mile Rd Ruthdale St 2015 20,395 0.05 mi
Gratiot Ave E 12 Mile Rd 2015 45,550 0.05 mi
Gratiot Ave Tranquill St 2012 62,094 0.08 mi
Gratiot Ave Florence St 2015 66,500 0.09 mi
Gratiot Ave E 12 Mile Rd 2015 45,650 0.10 mi
12 MILE RD Gratiot Ave 2020 31,273 0.11 mi
E 12 Mile Rd PkSt 2011 22,614 0.12 mi
Gratiot Ave Birmingham 2011 45,125 0.13 mi
Birmingham Gratiot Ave 2011 3,130 0.15 mi
Gratiot Ave Galloway St 2020 28,283 0.18 mi

Listing Broker

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