T-Mobile,
Lamesa, TX Investment Summary
| Price | $924,000 |
| Cap Rate | 6.50% |
| NOI | $60,030 |
| Lease Term | 5 Years |
| Lease Type | Net, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Excluding Roof, Structure, And Parking Lot |
| Rental Increases | Approximate 10% Rental Increases In Option Periods |
| Year Built | 2022 |
| Building Size | 5,220 SF |
| Lot Size | 0.48 Acres (20,865 SF) |
| Status | Sold |
| Lead Brokers | Ryan Forsyth Executive Managing Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Vincent Aicale Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 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 Jack Hinson Brokerage 704.572.9921 jack.hinson@cushwake.com CA RE License #02059267 |
Investment Highlights
NEW FIVE-YEAR NET LEASE TO GROWING RETAIL TENANT
» New five-year net lease to growing retail tenant
» Approximate 10% rental increases in option periods, providing a hedge against inflation
» No landlord management, excluding roof, structure, and parking lot
» Excellent investment opportunity for an out-of-area investor
MAJOR NATIONAL TENANT WITH STRONG FINANCIALS
» T-Mobile (NASDAQ: “TMUS”) is the second largest wireless carrier in the United States (104.79 million users)
» 16,000 retail stores offer T-Mobile products, including branded and non-exclusive locations
» T-Mobile has annual revenues of over $68.4 billion, and its network reaches 98% of Americans
» In 2021 T-Mobile added 1.2 million postpaid accounts, 5.5 million postpaid customers, and extended Ultra Capacity 5G to 210 million people
» T-Mobile was the first and only U.S. wireless provider to commit to and achieve its RE100 goal in 2021, years ahead of others
SIGNALIZED HARD-CORNER LOCATION AT THE INTERSECTION OF U.S. ROUTES 87 AND 180
» Easily accessible location from the signalized hard-corner of U.S. Route 87/North Dallas Avenue and U.S. Route 180/North 4th Street (14,830 AADT)
» Surrounded by a strong mix of local and national retailers, including McDonald’s, Sonic Drive-In, Dairy Queen, Domino’s Pizza, and many more
» Surrounded by high-density, single-family housing developments and large townhouse complexes
» Projected 10 percent average annual household income increase within five miles of the site in the next five years, poising T-Mobile and Lamesa for concurrent growth
NEW 2021 REMODEL IN INCOME TAX FREE STATE
» New 2021 remodel to T-Mobile’s latest prototype, limiting near-term deferred maintenance or capital costs
» Texas has no state income tax, estate tax, or inheritance tax
» Ample and easily accessible parking on site
» 30-foot illuminated pylon sign at the signalized intersection of U.S. Route 87/North Dallas Avenue and U.S. Route 180/North 4th Street
Property Description
Sold
This T-Mobile is easily accessible from the signalized hard-corner of U.S. Route 87/North Dallas Avenue and U.S. Route 180/North 4th Street (14,830 AADT). The property is strategically located at the confluence of two major U.S. routes carrying significant amounts of traffic in and out of Texas.
The site is surrounded by a strong mix of local and national retailers, including McDonald’s, Sonic Drive-In, Dairy Queen, Domino’s Pizza, and many more. The property is also surrounded by high-density, single family housing developments and large townhouse complexes, and with a projected 10 percent average annual household income increase within five miles of the site in the next five years, T-Mobile and Lamesa are poised for concurrent growth.
