T-Mobile,
Cleveland, MS Investment Summary
| Price | $1,000,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 10 Years |
| Lease Type | Net, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Excluding Roof, Structure, And Parking Lot |
| Rental Increases | 10% Rental Increases Every 5 Years |
| Year Built | 2021 |
| Building Size | 2,000 SF |
| Lot Size | 0.62 Acres (27,007 SF) |
| Status | Sold |
| Lead Brokers | Vincent Aicale Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Managing Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
NET LEASE TO GROWING NATIONAL RETAILER IN MISSISSIPPI SUBMARKET
» 10-year net lease to T-Mobile (NASDAQ: “TMUS”), the second largest wireless carrier in the United States (98.3 million users and 16,100+ locations)
» T-Mobile recorded $68.4 billion in 2020 revenue
» 10% rental increases every five years, providing a hedge against inflation
» Net lease with minimal landlord responsibilities
HIGH-TRAFFIC LOCATION – OUTPARCEL TO WALMART SUPERCENTER
» Outparcel to busy Walmart Supercenter
» Strategically located along North Davis Avenue, Cleveland’s primary retail and transportation corridor, with excellent visibility and access to 23,000 vehicles per day
» Surrounded by major national retailers including Kroger, Advance Auto Parts, AutoZone, Dollar Tree, Zaxby’s, Wendy’s, Taco Bell, and many others
» Walking distance to Baxter Healthcare, one of the largest employers in the area
» Only corporate T-Mobile store in over 97 miles
NEWLY REMODELED
» New 2021 remodel
» Features latest T-Mobile prototype
Property Description
SOLD
The property is strategically located on North Davis Avenue with excellent access and visibility to 23,000 vehicles per day directly in front of the store. The subject property is an outparcel to Walmart Supercenter along Cleveland’s primary retail corridor, and is located near many other national retailers including Kroger, Advance Auto Parts, AutoZone, Dollar Tree, Zaxby’s, Wendy’s, Taco Bell, and many others.
The subject property is walking distance from Baxter Healthcare, one of the largest employers in the area. Within a five-mile radius of the property, there are 18,490 residents, providing the subject property with an immediate customer base. The average household income is projected to grow by 9% over the next five years poising T-Mobile and the Cleveland area for strong growth.
