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DOM: 134 Updated: 02.27.24 Posted: 08.29.23 Status: Sold 01.10.24

Summary

Price $1,212,500 $1,386,000
Built/Renov 1990/2023
Tenant T-Mobile
Cap Rate 8.00% 7.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 1,956
Lease Start 11-15-2023
#Units 7,994
Price/SF $619.89 $708.59
Expiration 11-14-2033
Tenant Type Tel/Cell
NOI $97,000
R. Term 8.6
Ownership Fee Simple
Rent/SF $49.59
Increases 10.0%/5/yrs
Pop 5Mi 12,406
Lot/AC 0.60
Options 2/5yrs/10%
AHHI 5Mi $59,235

Lease Highlights

  • Brand new remodel featuring high-quality materials, distinct design elements, and high-quality finishes
  • The tenant, T-Mobile South, LLC, recently signed a brand-new 10-year lease with 2 (5-year) options to extend
  • The lease features 10% rental increases every 5 years and at the beginning of each option period
  • Landlord responsibilities limited to roof, structure, and parking lot
  • Corporate guaranteed lease

Location Description

This recently renovated T-Mobile is strategically fronting N. Ron McNair Blvd. averaging 15,100 vehicles passing by daily. The asset benefits from significant street frontage and multiple points of ingress/egress. The immediate trade area is supported by several retailers such as Belk, Dollar Tree, Walmart Supercenter, Burger King, McDonald’s, O’Reilly Auto Parts and many more. Adjacent to the...

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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 : 2,523 9,517 12,147
2023 Total Population : 2,579 9,673 12,375
2023 Employed Civilian Pop : 967 3,672 4,731
2023 Total Businesses : 331 470 543
2023 Average Household Income : $ 60,304 $ 60,476 $ 59,238
2023 Total Consumer Spending : $ 59 M $ 208 M $ 262 M
2023 Median Age : 39 39 40
2023 Total Households : 1,101 3,866 4,955
2023 Pop Age 25+: Bachelor's Degree : 388 1,124 1,304
2023 Average Home Value : $ 130,717 $ 144,939 $ 139,787
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
North Ron McNair Boulevard Elizabeth Anne Ct 2021 15,100 0.15 mi
N Ron McNair Blvd Mercy St 2010 12,300 0.21 mi
Kelley Street Shelby Ct 2021 3,500 0.26 mi
West Main Street Burch St 2021 5,700 0.30 mi
West Main Street N McAlister St 2021 9,700 0.32 mi
N Matthews Rd Cyprus Ct 2010 4,500 0.40 mi
North Matthews Road Richtex Ct 2021 4,500 0.44 mi
Brown Street Gaddy St 2021 1,000 0.50 mi
West Thomas Street S McAllister St 2021 2,000 0.57 mi
Charles Street N Church St 2021 2,000 0.59 mi

Listing Broker

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