T-Mobile,
Greenville, MS Investment Summary
| Price | $2,032,000 |
| Cap Rate | 6.00% |
| NOI | |
| Lease Term | 10 Years |
| Lease Type | Net, With Tenant Responsible For All Taxes, Insurance, And Maintenance |
| Rental Increases | 10% Rental Increases Every 5 Years |
| Year Built | 2021 |
| Building Size | 3,838 SF |
| Lot Size | 1.148 acres (50,006 SF) |
| Status | Sold |
| Lead Brokers | Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Vincent Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Scott Crowle Executive Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
NET LEASE TO GROWING NATIONAL RETAILER IN MISSISSIPPI SUBMARKET
» T-Mobile (NASDAQ: “TMUS”) is the second largest wireless carrier in the United States (98.3 million users)
» T-Mobile recorded $45 billion in 2019 revenue
» 10% rental increases every five years, providing a hedge against inflation
» Three (3) extension periods of five (5) years each
» New 2021 remodel to latest T-Mobile prototype
» Large, 1.148-acre parcel
HIGH-TRAFFIC LOCATION OUTPARCEL TO WALMART SUPERCENTER
» Prominent location outparcel to Walmart Supercenter
» Strategically located along MS-1, Greenville’s primary retail and transportation corridor, with excellent visibility and access to 17,000 vehicles per day
» Surrounded by major national retailers including Lowe’s, Kroger, Harbor Freight, PetSense, Dollar Tree, O’Reilly Auto Parts, Taco Bell, Wendy’s and many others.
» Walking distance to the Greenville Mall and anchor tenants T.J. Maxx and Belk
» Only corporate T-Mobile store in over 100 miles
NEWLY REMODELED
» New 2021 remodel
» Features latest T-Mobile prototype
Property Description
SOLD
The property is strategically located on MS-1 with excellent access and visibility to 17,000 vehicles per day directly in front of the store. The subject property is located outparcel to Walmart Supercenter on the primary retail corridor in Greenville with many other national retailers including Lowe’s, Harbor Freight, Kroger, Petsense, Dollar tree, O’Reilly Auto parts, Taco Bell, Wendy’s and many others.
The subject property is just walking distance from the Greenville Mall with anchor tenants T.J. Maxx and Belk. Within a five-mile radius of the property, there are 34,559 residents providing the subject property with an immediate customer base. The average household income is projected to grow by 10% over the next five years poising T-Mobile and the Greenville area for strong growth.
