Verizon

1108 Allen Drive, Grand Island, NE

$1,911,000

Price

6.5%

Cap Rate

$124,230

NOI

Overview
Cap Rate
6.5%
NOI
$124,230
Building Size
4,050 sqft
Lot Area
0.6855 acres
Occupancy
100%
Lease Type
Double Net
Year Built
2010
Tenancy
Single
Year Last Renovated
2010
Gross Leaseable Area
4050
Lease Expire Year
04/15/2025
Description

Verizon has a recently executed 1st option with 5 years remaining on NN Lease with 10% rental escalations every 5 years (In Options). The tenant, Verizon Wireless (VAW) LLC, was formed on June 30, 2000 and is celebrating its 20th year as one of the world’s leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $131.9 billion in 2019. Currently, Verizon has 1,600+ retail stores in the U.S.

This asset is well positioned on main retail corridor - Pad site to Gordmans, Home Depot and Ashley Furniture anchored retail center – Great visibility on US Hwy 281 (19,089 CPD).

Verizon is located in Grand Island, Nebraska, with nearby retailers including Hobby Lobby, Slumberland Furniture, Dick’s Sporting Goods, Bed Bath & Beyond, Sam’s Club, Burlington, Dollar Tree, Best Buy, Dillard’s, Petco, Petsense, Shoe Carnival, Hibbett Sports, Harbor Freight Tools, Tractor Supply Co., Goodwill, AMC Theatres and Planet Fitness.

Highlights
  • Recently Executed 1st Option with 5 Years Remaining on NN Lease with 10% Rental Escalations Every 5 Years (In Options)
  • Great Visibility on US Hwy 281 (19,089 CPD), Just South of W 13th St (7,643 CPD)
  • UNEMPLOYMENT RATE: According to U.S. Bureau of Labor Statistics, Nebraska’s Rate at 2.9% and National Rate at 3.6% (January 2020)
  • RARE Corporate Store - Verizon Wireless (VAW) LLC (NYSE: VZ | S&P BBB+ Credit Rating | Moody’s Baa1 Rating) Operates 1,600+ Verizon Retailers Nationwide
  • Well Positioned on Main Retail Corridor - Pad Site to Gordmans, Home Depot and Ashley Furniture Anchored Retail Center
  • 2019 DEMOGRAPHICS (5-MI): Total Population: 54,027 | Average Household Income: $63,894
Documents
Title
verizon.grandisland_mktgpkg.pdf
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Location
Gallery