T-Mobile,
Reidsville, GA Investment Summary
| Price | $973,000 |
| Cap Rate | 7.40% |
| NOI | $72,000 |
| 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 (Remodeled) |
| Building Size | 2,000 SF |
| Lot Size | 0.60 acres (26,136 SF) |
| Status | Under Contract |
| 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
» 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
