Electronics

Verizon Wireless | NNN Lease

4223 Sebring Pkwy, Sebring, FL 33870

Listing Price: $749,000

Cap Rate
8.50%
Tenant Name
Verizon Wireless
Years Remaining On Lease
0.70
Gross SF
2,500
Guarantor
Corporate Guarantee
Rentable SF
2,500
Price/Gross SF
$299.60
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$25.48

Investment Overview

The subject property is a freestanding Verizon Wireless store in Sebring, FL. The 2,500+/- store was built on .40+/- acres in 2004 for Alltel Wireless, who was later acquired by Verizon in 2009. The store is ideally located as an outparcel to a 175,000+ square foot shopping center anchored by Winn Dixie, Goodwill and Pet Supermarket. Other retailers in the immediate area include Walmart, Home Depot, Lowe’s, ALDI, Walgreens, Ross, Marshall’s, Bed Bath & Beyond and more. US Highway 27 boasts an average daily traffic count of 40,500. The tenant, Alltel Communications, LLC, which is indirectly, wholly owned by Cellco Partnership d/b/a Verizon Wireless. They recently exercised the renewal option, at the option rent which included a rental increase. Their decision to extend the existing lease term is indicative of their high level of comfort in this location. The lease is NNN with Tenant being responsible for CAM, taxes, insurance, roof and structure.

Investment Highlights

  • RARE NNN LEASE | TENANT RESPONSIBLE FOR CAM, TAXES, INSURANCE, ROOF AND STRUCTURE
  • TENANT IS INDIRECTLY, WHOLLY OWNED BY VERIZON WIRELESS
  • TENANT RECENTLY EXERCISED RENEWAL OPTION WITH RENTAL INCREASE
  • OUTPARCEL TO 175,000+/- SF GROCERY ANCHORED SHOPPING CENTER
  • LONG-TERM HISTORICAL OCCUPANCY | TENANT SINCE 2004

Exclusively Listed By

  • Robby Pfeiffer

    Senior Vice President Investments

    Email Robby

    License(s): GA: 281335, AL: 000091407-1

    Atlanta

Electronics

Verizon Wireless | NNN Lease

Listing Price: $749,000

Cap Rate
8.50%
Tenant Name
Verizon Wireless
Years Remaining On Lease
0.70
Gross SF
2,500
Guarantor
Corporate Guarantee
Rentable SF
2,500
Price/Gross SF
$299.60
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$25.48

Investment Highlights

  • RARE NNN LEASE | TENANT RESPONSIBLE FOR CAM, TAXES, INSURANCE, ROOF AND STRUCTURE
  • TENANT IS INDIRECTLY, WHOLLY OWNED BY VERIZON WIRELESS
  • TENANT RECENTLY EXERCISED RENEWAL OPTION WITH RENTAL INCREASE
  • OUTPARCEL TO 175,000+/- SF GROCERY ANCHORED SHOPPING CENTER
  • LONG-TERM HISTORICAL OCCUPANCY | TENANT SINCE 2004

Investment Overview

The subject property is a freestanding Verizon Wireless store in Sebring, FL. The 2,500+/- store was built on .40+/- acres in 2004 for Alltel Wireless, who was later acquired by Verizon in 2009. The store is ideally located as an outparcel to a 175,000+ square foot shopping center anchored by Winn Dixie, Goodwill and Pet Supermarket. Other retailers in the immediate area include Walmart, Home Depot, Lowe’s, ALDI, Walgreens, Ross, Marshall’s, Bed Bath & Beyond and more. US Highway 27 boasts an average daily traffic count of 40,500. The tenant, Alltel Communications, LLC, which is indirectly, wholly owned by Cellco Partnership d/b/a Verizon Wireless. They recently exercised the renewal option, at the option rent which included a rental increase. Their decision to extend the existing lease term is indicative of their high level of comfort in this location. The lease is NNN with Tenant being responsible for CAM, taxes, insurance, roof and structure.

Exclusively Listed By

  • Robby Pfeiffer

    Senior Vice President Investments

    Email Robby

    License(s): GA: 281335, AL: 000091407-1

    Atlanta

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