Listed by Summit Real Estate
$1,450,000
Corporate T-Mobile Value Add Strip
Details
Property Type Retail
Sub Type Shopping Center
Square Footage 4,799
NOI $47,312
Occupancy 38%
Tenancy Multi
Lease Type NNN
Pro-Forma Cap Rate 10.00%
Pro-Forma NOI $145,376
Price per SqFt $302
Year Built 1974
Acreage 0.720
Investment Type Value Add
Tenant Credit Corporate Guarantee
Ground Lease No
10% Cap Rate Proforma Offering | Major 2023 Renovation | Corporate-T Mobile Lease
Investment highlights
- Significant Value-Add Upside – 61.78% of the GLA (2,965 SF) is Vacant, Offering the Opportunity to Achieve a
- Projected 10%+ Cap Rate Proforma Upon Stabilization; Vacant Space is Built Out as a Former Restaurant with
- Strong Endcap Visibility
- Corporate Guaranteed NNN Lease – T-Mobile (NASDAQ: TMUS), the 2nd-Largest Wireless Carrier in the US, is
- on a Corporate Lease Running Through March 2028 with Two 5-Year Renewal Options and Rent Increases to $37.40
- and $41.14 PSF
- High-Quality 2023 Renovation – Landlord Invested $650,000 in Major Capital Improvements Including a New
- Roof, Parking Lot, Electrical, Plumbing, Sewer, HVAC, and Exterior Framing/Painting
- Freeway-Visible Location with High Traffic – Situated at the Most Eastern I-10 Exit Along S. Lovekin Blvd, Benefiting
- from Over 65,000 Vehicles Per Day at the Nearest Off-Ramp
- Owner/User Opportunity – Buyer Can Occupy the 2,965 SF Vacant Suite While Collecting T-Mobile Rent to Offset
- Carry Costs
- Strategic Commuter & Tourist Market – Blythe Serves as the Halfway Point Between Los Angeles and Phoenix Along
- I-10, with Seasonal Winter Population Exceeding 500,000 and Major Hotel Adjacencies (Comfort Suites, Quality
- Inn, Super 8, Motel 6)
- Surrounded by National Retailers and QSR Brands – Surrounding National Retailers Include Denny’s, Circle K,
- Comfort Suites, Holiday Inn Express, Motel 6, McDonald’s, Carl’s Jr., Jack in the Box, Taco Bell, Del Taco, Dollar
- General, Verizon, Ace Hardware, O’Reilly Auto Parts, Sizzler, Albertsons, Rite Aid, AutoZone, Smart & Final, and
- Dollar Tree.
Listing Contacts
Listed by Summit Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$47,312.00
$3,942.67/mo
Valuation Metrics
0
DSCR
3.26%
Cap Rate
3.26%
ROI
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