T-Mobile
| Price | $1,656,000 |
| Cap Rate | 6.25% |
| NOI | $103,500 |
| 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 | 2020 |
| Building Size | 2,875 SF |
| Lot Size | 0.779 Acres |
| Status | Under Contract |
| Lead Broker Information | Scott Crowle Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
NET LEASE TO GROWING NATIONAL RETAILER IN TEXAS SUBMARKET
» New long-term lease with three (3) five (5) year options
» 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 years, providing a hedge against inflation
» Large, .78-acre parcel
HIGH-TRAFFIC LOCATION NEAR DOWNTOWN BROWNWOOD
» Strategically located at the hard corner of U.S. Route 84/West Commerce Street and Looney Street, with excellent visibility and access to 18,770 vehicles per day
» Located at the confluence of several highly trafficked Texas thoroughfares, including U.S. Route 183, U.S. Route 377, U.S. Route 283, and U.S. Route 67
» Surrounded by national retailers such as Walmart Supercenter, ALDI, The Home Depot, Bealls, Walgreens, Tractor Supply Co., Starbucks, McDonald’s, KFC, and many more
» Pad building to dominant Walmart and Home Depot, yet not bound by their CC&R’s
BENEFICIAL PROXIMITY TO SEVERAL SCHOOLS AND MAJOR EMPLOYERS
» Located in the quickly-growing Hill Country of Texas
» Within five miles of Brownwood’s largest employers, including Kohler (1,145 employees) and 3M (600 employees)
» Central location within the Brownwood Independent School District (7 schools, 3,692 students, 505 employees)
» 2.3 miles from Howard Payne University (1,072 students, 432 employees)
LOCATED IN AN OPPORTUNITY ZONE WITH TAX INCENTIVES
» Brownwood has been designated as an opportunity zone by the State of Texas
» Investors can invest in qualified Opportunity Zones through an investment called an Opportunity Fund, which provides both temporary and long-term tax deferrals for eligible investors
» No taxes on 10% of gains after five years, 15% of gains after seven years, and 100% of gains after ten years
» Located in an income tax free state
Property Description
The property is strategically located at the hard corner of U.S. Route 84/West Commerce Street and Looney Street, with excellent visibility and access to 18,770 vehicles per day. The site is also located at the confluence of several highly trafficked Texas thoroughfares, including U.S. Route 183, U.S. Route 377, U.S. Route 283, and U.S. Route 67. With a beneficial proximity to downtown Brownwood, the property is in the center of one of the city’s major retail corridors. Notable retailers near the property include Walmart Supercenter, ALDI, The Home Depot, Bealls, Walgreens, Tractor Supply Co., Starbucks, McDonald’s, KFC, and many more.
The property is centrally located near several schools and major employers. The location is within five miles of Brownwood’s largest employers, including Kohler (1,145 employees) and 3M (600 employees). The site is prominently located within the Brownwood Independent School District, which features 7 schools, 3,692 students, and 505 employees. The property is also 2.3 miles from Howard Payne University (1,072 students, 432 employees).
