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T-Mobile, Williston, FL

T-Mobile, Williston, FL


Investment Summary

Price $1,573,000
Cap Rate 6.15%
NOI $96,739
Lease Term 10 years
Lease Type Net lease, with tenant responsible for all taxes, insurance, and maintenance, excluding roof, structure, and parking lot. Tenant is responsible for coordination and payment of all daily maintenance (including landscaping)
Rental Increases 10% rental increases every five (5) years
Year Built 2024
Building Size 2,000 SF
Lot Size 0.32 acres (13,939 SF)
Status Available
Lead Brokers Ryan Forsyth
Vice Chairman
916.320.2541
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Vice Chairman
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Vice Chairman
512.677.8810
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

BRAND NEW 10-YEAR LEASE TO S&P INVESTMENT-RATED TENANT
» 10-year net lease with 10% rental increases in initial term and option periods
» T-Mobile is one of the United States premier wireless carriers, boasting total revenue in excess of$78 Billion in 2023
» Provide essential service to locals of Williston, increasing the stability of customers in the surrounding area
» T-Mobile is America’s largest, fastest, and most reliable 5G network
» T-Mobile touts an impressive user count of nearly 110 million Americans
» Ability to take “Accelerated/Bonus Depreciation”

EXCELLENT LOCATION AT THE CONFLUENCE OF TWO MAJOR U.S. HIGHWAYS
» High-visibility and easily accessible location along West Noble Avenue (18,200 AADT)
» Located at the confluence of U.S. Route 41 & U.S. Route 27, significantly increasing visibility to the location for both commuters and locals
» Excellent proximity to major traffic drivers such as Winn-Dixie, Tractor Supply Co., Ace Hardware, Walgreens, McDonald’s, Hardee’s, Wendy’s, Popeyes, AutoZone Auto Parts, Dollar General, and many more
» 19 miles from The University of Florida (60,795 students, $16B in annual economic impact) and Downtown Gainesville (145,214 population)

DENSELY POPULATED AND GROWING FLORIDA CITY WITH EXCELLENT SUBURBAN DEMOGRAPHICS
» 55,445 residents live within fifteen miles of the property, providing a reliable customer base for the site
» Affluent customer base with an average annual household income of $93,686 within a fifteen-mile radius
» Projected population and income increases within 5-, 10-, and 15-mile radii over the next five years poise T-Mobile and Williston for steady concurrent growth
» Beneficial proximity to Williston Municipal Airport (received $3.5 million in 2023 to build new terminal)

NEW 2024 CONSTRUCTION IN A TAX-FREE STATE
» New high-quality 2024 construction built to the latest T-Mobile prototype
» Site features ample parking for added customer convenience
» Florida is an income tax-free state

Property Description

» This T-Mobile has a high-visibility location along West Noble Avenue (18,200 AADT)
» The site is located at the confluence of U.S. Route 41 & U.S. Route 27, significantly increasing visibility to the location for both commuters and locals
» “Self-Maintaining” lease (Tenant shall be responsible for all repair and maintenance to the property)
» 55,445 residents live within five miles of the property, providing a reliable customer base for the site
» Additionally, the site is centrally located near several major traffic drivers such as Winn-Dixie, Tractor Supply Co., Ace Hardware, Walgreens, McDonald’s, Hardee’s, Wendy’s, Popeyes, AutoZone Auto Parts, Dollar General, and many more
» The site is the only T-Mobile location within a 24-mile radius and in the city of Williston, providing limited competition
» The property resides 19 miles from The University of Florida (60,795 students, $16B in annual economic impact) and Downtown Gainesville (145,214 population)
» Projected population and income increases within 5-, 10-, and 15-mile radii over the next five years poise T-Mobile and Williston for steady concurrent growth

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