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T-Mobile, Reidsville, GA

T-Mobile, Reidsville, GA


Investment Summary

Price $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 2023 (Remodeled)
Building Size 2,000 SF
Lot Size 0.60 acres (26,136 SF)
Status Closed
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 REIDSVILLE’S PRIMARY RETAIL AND TRANSPORTATION CORRIDOR
» Located just off the signalized intersection of W Brazell St and S Main St with 15,380 vehicles per day at the intersection
» Prominent location on Reidsville’s primary retail corridor surrounded by major national retailers including Ace Hardware, Food Lion, O’Reilly Auto Parts, McDonald’s, Dairy Queen, Dollar General and several others
» This is the only telecommunications store in Reidsville and is the only T-Mobile within 15 miles of the property

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

SOLD

» Ten-year net lease to investment-grade tenant with strong financials (NASDAQ: “TMUS”)
» Located just off the signalized intersection of West Brazell Street and South Main Street with 15,380 vehicles per day at the intersection
» Prominent location on Reidsville’s primary retail corridor surrounded by major national retailers including Ace Hardware, Food Lion, O’Reilly Auto Parts, McDonald’s, Dairy Queen, Dollar General and several others
» This is the only telecommunications store in Reidsville and is the only T-Mobile within 15 miles of the property
» New 2023 remodel to T-Mobile’s latest prototype, limiting near-term deferred maintenance or capital cost

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