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Views: 39 DOM: 113 Updated: 11.25.24 Posted: 08.30.24 Status: Active

Summary

Price $2,991,500
Built/Renov 2024
Tenant COX Mobile
Cap Rate 5.85%
Lease Type NN+
Guarantor Corp Rated
Size/SF 3,500
Lease Start 11-01-2024
#Units 129
Price/SF $854.71
Expiration 10-31-2034
Tenant Type Tel/Cell
NOI $175,000
R. Term 9.10
Ownership Fee Simple
Rent/SF $50.00
Increases 10.0%/5/yrs
Pop 5Mi 182,972
Lot/AC 1.41
Options 2/5yrs/10%
AHHI 5Mi $82,921

Lease Highlights

  • Brand new 2024 construction
  • New 10-year lease with 2 (5-year) options to extend
  • The lease features 10% rental increases throughout the initial term and option periods
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guarantee | Investment grade tenant

Location Description

COX Mobile is strategically located at the signalized, hard corner intersection of NW 43rd Street and 16th Boulevard, with access to a combined daily traffic count of 43,800 vehicles. The property benefits from nearby access to Interstate 75, which sees 104,500 VPD. It features excellent visibility via large signage and direct street frontage. The site is adjacent to The Marketplace,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: COX Mobile
  • Guarantor:Corp Rated
  • Company:Cox Enterprises, Inc.
  • # Units:129
  • Tenant S&P: BBB
  • Moody’s: Baa2
  • Stock:Private

About Tenant

Cox Communications (aka “Cox Cable”) is an American provider of digital cable television, telecommunications, and home automation services. It is the third-largest cable television provider and...


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Listing Broker

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