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Views: 55 DOM: 128 Updated: 11.21.24 Posted: 08.15.24 Status: Active

Summary

Price $1,538,000
Built/Renov 2023
Tenant T-Mobile
Cap Rate 7.15%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 2,000
Lease Start 11-01-2024
#Units 7,994
Price/SF $769.00
Expiration 10-31-2034
Tenant Type Tel/Cell
NOI $110,000
R. Term 9.10
Ownership Fee Simple
Rent/SF $55.00
Increases 10.0%/5/yrs
Pop 5Mi 21,651
Lot/AC 0.40
Options 2/5yrs/10%
AHHI 5Mi $83,843

Lease Highlights

  • New 2023 construction
  • Brand new 10-year lease with 2 (5-year) options to extend
  • The lease feature 10% rental escalations throughout the initial term and option periods
  • Corporate guarantee | Investment grade tenant

Location Description

T-Mobile is strategically located near the signalized, hard-corner intersection of N. Clinton Street and State Highway 66, with access to a combined daily traffic count of 27,200 vehicles. The property has convenient access to State Highway 15 (10,700 VPD) and U.S. Highway 24 (20,200 VPD). It is positioned in a densely populated retail trade area, directly across from Northtowne Mall, 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 (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
2029 Total Population : 4,029 16,966 21,424
2024 Total Population : 4,073 17,159 21,651
2024 Employed Civilian Pop : 1,917 8,401 10,536
2024 Total Businesses : 404 925 1,041
2024 Average Household Income : $ 71,415 $ 82,142 $ 83,843
2024 Total Consumer Spending : $ 103 M $ 528 M $ 675 M
2024 Median Age : 39 40 41
2024 Total Households : 1,625 7,213 9,053
2024 Pop Age 25+: Bachelor's Degree : 403 1,686 2,107
2024 Average Home Value : $ 185,341 $ 190,052 $ 193,143
*ESRI data is presented for informational purposes only

Listing Broker

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