York, SC - T-Mobile

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, freestanding, T-Mobile investment property located in York, SC (Charlotte, NC MSA). The tenant, T-Mobile South LLC, recently signed a brand new 10-year lease with 2 (5-year) option periods to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation. The lease is signed by the corporate entity (NASDAQ: TMUS | S&P: BBB) and is NN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Founded in 1999, T-Mobile is among the largest wireless carriers with over 125.9M subscribers as of Q2 2024.

T-Mobile is strategically located along Liberty Street with clear visibility and access to an average of 17,800 vehicles passing by daily. The asset also benefits from nearby access onto State Highway 161 (16,200 VPD), State Highway 5 (15,200 VPD), and other major commuter routes, making it a centralized location with easy access. T-Mobile is ideally situated within a dense retail trade area with many strong nearby tenants including Food Lion, Walmart Supercenter, Lowe’s, Harbor Freight Tools, AutoZone, and others. The strong trade area drives a loyal, local consumer base to the area, promoting crossover exposure and contributing to the local economy. Furthermore, the property is near numerous single-family communities and multi-family complexes including York Townhouses (46 units), White Oaks (40 units), Cedar Terrace (104 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 69,100 residents and 28,000 daytime employees, with a healthy average household income of $80,283.