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Views: 88 Updated: 01.08.24 Posted: 10.16.23 Status: Sold

Summary

Price $1,200,090 $1,231,477
Built/Renov 2023
Tenant T-Mobile
Cap Rate 6.67% 6.50%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,000
Lease Start 09-08-2023
#Units 7,994
Price/SF $600.04 $615.74
Expiration 09-07-2033
Tenant Type Tel/Cell
NOI $80,046
R. Term 8.7
Ownership Fee Simple
Rent/SF $40.02
Increases 10.0%/5/yrs
Pop 5Mi 10,040
Lot/AC 0.34
Options 2/5yrs/10%
AHHI 5Mi $70,342

Lease Highlights

  • Brand new 2023 construction
  • 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 guarantee by T-Mobile US Inc (NASDAQ: TMUS)

Location Description

T-Mobile is situated along US Highway 82, also known as Lubbock Road, which has a daily traffic count of 15,588 vehicles. The surrounding area is populated with several well-known tenants, including Dollar General Market, O'Reilly Auto Parts, McDonald's, Burger King, Sonic, Ford, and Phillips 66. Additionally, the property is conveniently located less than half a mile west of the Brownfield...

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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 : 4,627 9,099 9,576
2023 Total Population : 4,710 9,251 9,735
2023 Employed Civilian Pop : 1,756 3,588 3,811
2023 Total Businesses : 337 431 447
2023 Average Household Income : $ 53,397 $ 69,038 $ 70,064
2023 Total Consumer Spending : $ 78 M $ 194 M $ 209 M
2023 Median Age : 33 36 36
2023 Total Households : 1,659 3,160 3,346
2023 Pop Age 25+: Bachelor's Degree : 197 524 552
2023 Average Home Value : $ 82,497 $ 112,079 $ 115,115
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Lubbock Road E Lanny Ave 2021 15,588 0.28 mi
Tahoka Road N Cub Dr 2021 7,925 0.36 mi
North 1st Street N 1st St 2021 17,692 0.38 mi
N 1st St W Hill St 2002 12,700 0.42 mi
Bridges Street N 5th St 2021 466 0.46 mi
West Main Street N 3rd St 2021 5,254 0.49 mi
West Main Street S 1st St 2020 4,325 0.49 mi
South 1st Street W Main St 2020 14,806 0.51 mi
South 1st Street W Buckley St 2021 14,769 0.51 mi
Lubbock Road Ranch Rd 2066 2021 12,912 0.58 mi

Listing Broker

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