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T-Mobile, Greenville, OH

T-Mobile, Greenville, OH


Investment Summary

Price $1,400,000
Cap Rate 7.00%
NOI $98,000
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 five (5) years
Year Built 2023 (Renovated)
Building Size 2,570 SF
Lot Size 0.747 acres (32,539 SF)
Status Under Contract
Lead Brokers 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

Ryan Forsyth
Executive Managing Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Scott Crowle
Executive Managing Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

10-YEAR NET LEASE TO GROWING A NATIONAL RETAILER
» 1O-year net lease with 10% rental increases every five (5) years
» T-Mobile (NASDAQ: “TMUS”) is the second-largest wireless carrier in the United States with approximately 109.5 million users
» T-Mobile is America’s largest, fastest, and most reliable 5G network
» T-Mobile total revenues were $80.1 billion in 2021
» High-quality renovation currently underway projected to complete May 4, 2023

WALMART OUTPARCEL WITH ACCESS TO 24K VEHICLES PER DAY
» Prime location along Wagner Avenue (14,501 AADT) with beneficial proximity to U.S. Route 127 (9,510 AADT)
» Walmart outparcel near prominent retailers such as Kroger, Lowe’s Home Improvement, Marshalls, Tractor Supply Co., Dollar Tree, Sally Beauty, GameStop, McDonald’s, Taco Bell, KFC, Arby’s, Bob Evans, and more
» Walking distance to Quality Inn Greenville North (55 rooms), Holiday Inn Express & Suites Greenville, an IHG Hotel (80 rooms)
» Situated near several single and multi-family developments including Treaty City Manor, Willow Place Apartments, Hunters Oak Apartments (72 units), and Fox Run Senior Apartments (60 units)
» Less than two miles from Greenville Senior High School (858 students) and Whirlpool distribution center (1,360 employees)
» Three miles from Wayne HealthCare (92 beds)

ONLY T-MOBILE LOCATION IN GREENVILLE OHIO
» Only T-Mobile location within a 24-mile radius and in the city of Greenville, providing limited competition
» Supported by a population of 18,342 within a five-mile radius
» Average annual household income of $68,823 within five miles
» Gateway to Dayton (137,571 people), the 6th most populous city in Ohio
» Downtown Dayton is home to 42,000 employees, 2,000 residents, and more than 7 million yearly visitors
» Ohio has the lowest state taxes in the Midwest and the third lowest in the nation

Property Description

» T-Mobile is located along Wagner Avenue (14,501 AADT) and maintains beneficial proximity to U.S. Route 127 (9,510 AADT)
» The property is a Walmart outparcel near prominent retailers such as Kroger, Lowe’s Home Improvement, Marshalls, Tractor Supply Co., Dollar Tree, Sally Beauty, GameStop, McDonald’s, Taco Bell, KFC, Arby’s, Bob Evans, and more
» The location is within walking distance to Quality Inn (55 rooms), Holiday Inn Express & Suites (80 rooms)
» The site is less than two miles from Greenville Senior High School (858 students) and Whirlpool distribution center the global hub of the company’s small appliances business with 1,360 employees
» This is the only T-Mobile location within a 24-mile radius and in the city of Greenville, providing limited competition
» The site is supported by a population of 18,342 with an average annual household income of $68,823 within a five-mile radius
» The location is a gateway to Dayton (137,571 people), the sixth most populous city in Ohio
» Downtown Dayton is home to 42,000 employees, 2,000 residents, and more than 7 million yearly visitors
» Ohio has the lowest state taxes in the Midwest and the third lowest in the nation

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