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Views: 11 DOM: 7 Updated: 09.12.24 Posted: 09.12.24 Status: Active

Summary

Price $1,653,847
Built/Renov 1994/2024
Tenant Verizon
Cap Rate 6.50%
Lease Type NN+
Guarantor Franchisee
Size/SF 3,340
Lease Start 12-01-2025
#Units 800
Price/SF $495.16
Expiration 11-30-2031
Tenant Type Tel/Cell
NOI $107,500
R. Term 7.2
Ownership Fee Simple
Rent/SF $32.19
Increases 10.0%/7/yrs
Pop 5Mi 284,923
Lot/AC 0.29
Options 4/5yrs/10%
AHHI 5Mi $78,079

Lease Highlights

  • Brand new 7-year lease with 4 (5-year) options to extend
  • The lease features 10% rental escalations at the start of each option period
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Lease guaranteed by largest Verizon authorized retailer in the U.S. - Cellular Sales of Knoxville, Inc.

Location Description

Verizon is strategically located on Southfield Road, a major retail thoroughfare with access to a substantial daily traffic count of 93,000 vehicles. The property is in close proximity to numerous Ford Motor Company facilities, Roush Industries, and several hotel developments. The immediate area features prominent national tenants including CVS, AutoZone, Culver's, Kroger, Chick-fil-A,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Verizon is the largest wireless telecommunications provider in the United States. The company offers America's largest 4G LTE network and the nation’s largest high-speed 3G network. For...


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Listing Broker

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