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T-Mobile, Starke, FL

T-Mobile

Starke, Florida

Price $1,800,000
Cap Rate 5.85%
NOI $105,300
Lease Term 10 Years
Lease Type Net, With Tenant Responsible For All Taxes, Insurance, and Maintenance
Rental Increases 10% Rental Increases Every Five (5) Years
Year Built Contact For Details
Building Size 2,700 SF
Lot Size 0.72 Acres (31,343 SF)
Status Available
Lead Broker Information Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

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

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

Investment Highlights

NET LEASE TO GROWING NATIONAL RETAILER IN FLORIDA SUBMARKET
» T-Mobile (NASDAQ: “TMUS”) is the second largest wireless carrier in the United States (98.3 million users)
» T-Mobile recorded $45 billion in 2019 revenue
» 10% rental increases every five (5) years, providing a hedge against inflation
» Three (3) extension periods of five (5) years each
» New 2021 remodel to latest T-Mobile prototype
» Large, .72-acre parcel

HIGH-TRAFFIC AND GROWING LOCATION ALONG MAJOR STARKE THOROUGHFARE
» Prominent location outparcel to Walmart Supercenter
» Surrounded by a strong mix of local and national retailers, including Tractor Supply, Bealls Outlet, McDonald’s, KFC, IHOP, Dunkin’, Taco Bell, Dollar General, Advance Auto Parts, and many more
» Strategically located along U.S. Hwy 301, with excellent visibility and access to 33,000 vehicles per day
» Projected 10% average annual household income increase within five miles of the site in the next five years, poising Starke and T-Mobile for significant concurrent growth
» 25 miles from the University of Florida with over 65,000 students and staff
» Site serves as the only T-Mobile authorized retailer within 30 minutes of the property
» 50 miles from Downtown Jacksonville and 23 miles to Downtown Gainesville

NEWLY REMODELED IN AN INCOME TAX-FREE STATE
» New 2021 remodel
» Located in an income tax-free state



Property Description

The property is strategically located on U.S. Highway 301 with excellent access and visibility to 33,000 vehicles per day directly in front of the store. The subject property is located outparcel to Walmart Supercenter on the primary retail corridor in Starke with many other national retailers including Tractor Supply Company, Ace Hardware, O’Reilly Auto Parts, Advance Auto Parts, Murphy USA, IHOP, McDonald’s, Popeyes, KFC, Dunkin’ and many others. Within a five-mile radius of the property, there are 13,819 residents and an average household income over $59,000. The average household income is projected to grow by 10% over the next five years poising T-Mobile and the Starke area for strong growth.

Contact Us About This Property

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