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T-Mobile, Glennville, GA

T-Mobile, Glennville, GA


Investment Summary

Price $1,000,000
Cap Rate 7.90%
NOI $79,008
Lease Term 10 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 every five (5) years
Year Built 2023 (Remodeled)
Building Size 2,400 SF
Lot Size 0.49 acres (21,344 SF)
Status Available
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

NEW TEN-YEAR NET LEASE TO GROWING RETAIL TENANT
» Ten-year net lease to investment-grade tenant with strong financials (NASDAQ: “TMUS”)
» 10% rental increases every five years throughout the primary and option periods
» Limited landlord management responsibilities
» 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 $79.57 billion, and its network reaches 98% of Americans
» In 2022 T-Mobile added 1.8 million postpaid accounts, 6.8 million postpaid customers, and increased their total customer count to 113.6 million customers

PROMINENT LOCATION ON GLENNVILLE’S PRIMARY RETAIL AND TRANSPORTATION CORRIDOR
» Located just off the signalized intersection of North Veterans Boulevard and West Barnard Street with 18,190 vehicles per day at the intersection
» Centrally located in an affluent Georgia city with the average household income over $80,000 within 1-,3-, and 5- mile radii
» Close proximity to many of the region’s major employers including Claxton Poultry Farms, Rotary Corporation, Duramatic Products, Mascot Pecan Shelling, Glennville Electric Motors and many others

NEW 2023 REMODEL TO T-MOBILE’S LATEST PROTOTYPE
» New 2023 remodel to T-Mobile’s latest prototype, limiting near-term deferred maintenance or capital costs

Property Description

» Ten-year net lease to investment-grade tenant with strong financials (NASDAQ: “TMUS”)
» Located just off the signalized intersection of North Veterans Boulevard and West Barnard Street with 18,190 vehicles per day at the intersection
» Centrally located in an affluent Georgia city with the average household income over $80,000 within 1-,3-, and 5- mile radii
» Close proximity to many of the region’s major employers including Claxton Poultry Farms, Rotary Corporation, Duramatic Products, Mascot Pecan Shelling, Glennville Electric Motors and many others
» New 2023 remodel to T-Mobile’s latest prototype, limiting near-term deferred maintenance or capital costs

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