T-Mobile,
Lincoln, IL Investment Summary
| Price | $1,923,000 |
| 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 Five (5) Years |
| Year Built | 2021 |
| Building Size | 3,698 SF |
| Lot Size | 0.743 Acres (32,396 SF) |
| Status | Sold |
| 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
NET LEASE TO GROWING NATIONAL RETAILER IN ILLINOIS SUBMARKET
» T-Mobile (NASDAQ: “TMUS”) is the second largest wireless carrier in the United States (104.79 million users)
» T-Mobile recorded $68.4 billion in 2020 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
HIGH-TRAFFIC ALONG MAJOR LINCOLN THOROUGHFARE
» Strategic location at the signalized, hard corner of Woodlawn Road/State Route 121 and Malerich Drive, with excellent visibility and access to 16,003 vehicles per day
» Outparcel to Walmart Supercenter
» Only T-Mobile store within a 28-mile radius
» Beneficial proximity to Interstate 55 (23,800 AADT) and Historic U.S. Route 66 (8,385 AADT)
» Surrounded by national retailers including ALDI, AutoZone Auto Parts, Culver’s, McDonald’s, and many others
CENTRAL LOCATION NEAR HOSPITALS AND SCHOOLS
» Walking distance from the Abraham Lincoln Memorial Hospital (25 beds, 75 employees)
» Two miles from Lincoln College (700 students)
» Minutes from Northwest Elementary School (258 students) and West Lincoln- Broadwell Elementary School (234 students)
» Average household income projected to increase eight percent by 2026, poising T-Mobile and Lincoln for concurrent growth
Property Description
SOLD
The property is strategically located at the signalized hard corner of Woodlawn Road/State Route 121 and Malerich Road, with excellent visibility and access to 16,003 AADT vehicles per day directly in front of the store. The subject property is an outparcel to Walmart Supercenter in the primary retail and transportation corridor of Lincoln. The site maintains beneficial proximity to Interstate 55 (23,800 AADT) and Historic U.S. Route 66 (8,385 AADT). The property is surrounded by many national retailers including ALDI, AutoZone Auto Parts, Culver’s, McDonald’s, and many others. The site is just walking distance to Abraham Lincoln Memorial Hospital (25 beds, 75 employees) and minutes from Northwest and West Lincoln-Broadwell Elementary School (492 students combined). Lincoln College is two miles from the site with an enrollment of 700 students. There are 29,796 residents with an average household income of $74,129 within a 15-mile radius of the property, providing the subject property with an immediate customer base. The average household income is projected to grow eight percent by 2026, poising T-Mobile and the Lincoln area for concurrent growth.
