Verizon Wireless Communications Facility NNN Ground Lease
NNN Long-Term Ground Lease - RARE Fee-Simple Property - 1,845 SF Leased Area - 15% Increases
Marketing description
VERIZON WIRELESS COMMUNICATIONS FACILITY NNN LONG-TERM GROUND LEASE INVESTMENT
RARE Fee-Simple NNN Long-Term Ground Lease Investment. The 1,845 sq ft leased area is subdivided as a separate parcel and address affording conventional fee-simple property ownership…not a just a leasehold or "easement-only" investment!
Secure investment with blue-chip tenant and use: Verizon Wireless (Investment-Grade S&P Rated BBB+) has ground leased the property since 1996 for a wireless communications facility building with cabling, utility connections, standby generator and gated private driveway access essential for its operations and use of the 120’ monopole tower on an adjacent parcel that services multiple wireless carrier antennas (monopole parcel owned by others/not part of offering).
Long-term commitment to the site: Tenant has leased the site for approximately 25 years, recently completed facility improvements (including new equipment, cabling/trays and generator) as well as initiated an extension addendum which expanded the leased area from approximately 1,250 sq ft to 1,845 sq ft and added an additional 20 years of terms with 15% increases every 5 years.
Ideal strategic location: services heavy traffic counts and an exceptionally high metro Philadelphia population density. Ideally situated next to interstate 95 with 123,000+ vehicles per day passing the site as well as a 1/3/5 mile radius population of 86K/436K/1.01M respectively.
High barriers to entry and exceptional property values: The desirable Pennsport riverfront community is in high-demand with an explosion of luxury residential development. Adjacent new construction town-home sales are presently exceeding $700K per unit and land is in very short supply.
Zero Landlord Responsibilities: Tenant is directly responsible for all maintenance, utilities, insurance as well as lessor reimbursement of the annual property tax. Rental payments are direct-deposited into your bank account monthly. The additional 5-year lease terms automatically renew unless the tenant terminates with at least 6 months notice prior to the end of the current term.
Term Annual Rent (paid monthly via direct deposit)
Current – 9/30/31 $23,143.75
10/1/31 – 9/30/36 $26,615.31
Investment highlights
- PRIME bite-sized investment and RARE Northeast Market Offering in Desirable Metro Philadelphia Riverfront
- Ideal location adjacent to interstate I-95 serving 123,000+ vpd in the upscale Pennsport riverfront area of Center City Philadelphia
- Long-Term NNN Ground Lease with 15% increases in every 5-year option period
- Secure Blue-Chip investment with S&P BBB+ rated national tenant Verizon Wireless
- Zero Landlord Responsibilities - Tenant is directly responsible for all maintenance, utilities, insurance as well as lessor reimbursement of annual property tax. Rental payments are automatically deposited into your bank account monthly.
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