Single Tenant Verizon Wireless for Sale

Retail-Commercial for Sale
Catylist Listing ID: 30646559
Property Subtypes: Retail-Pad
Building Status: Under Construction
Building Size (RSF): 2,500 SF
Gross Building Area: See Agent
Sale Price: $1,793,650
Unit Price: $717.46 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 6.3%
Last Updated: 9/28/2020

Overview / Comments

Form G Commercial Advisors is pleased to offer for sale this new construction Verizon Wireless. The property is under construction and the tenant is estimated to commence rent in November 2020. This is a unique investment offering for qualified investors to acquire this well located, investment grade credit, single tenant net leased asset in Hammond, Indiana, an Indiana Suburb of Chicago, IL. This is a tremendous opportunity to purchase a recession and pandemic proof essential business use. Overall the combination of: tenant strength/creditworthiness, high traffic dense retail location in a major metropolitan U.S. suburb, and highly stable use make this one of the most stable retail investments available for sale!

Verizon Communications Inc, headquartered in New York, is a global leader in delivering broadband and other wireless and wire-line communications services to mass markets, business, government and wholesale customers. Verizon Wireless operates America’s most reliable wireless network serving more than 108 Million customers nationwide. Globally, they offer voice and data services in more than 200 countries. Verizon employs over 75,000 people.

The business operator, Cellular Sales, was founded in Knoxville, Tennessee in 1993 by Dane and Meg Scism. The company is currently operating 700+ strong performing locations and is actively growing. It is recognized as the largest Verizon retailer is the United States. In 2012, the company was ranked on Inc. Magazines 5000 list as the 60th fastest growing U.S. Retailer.

Tenant: * Cellular Sales of Indiana; d/b/a Verizon Wireless
Address *7935 Indianapolis Blvd Hammond, IN 46322
Offering Price *$1,793,650.70
CAP Rate *6.30%
Building Size *2,500 Square Feet
Lot Size *.504 Acres
First Year Rent *$113,686.89
Net Operating Income (NOI) *$113,000.00
Rent Commencement *November 2020
Tenant Sales * 2020 Revenues expected to surpass $2,000,000,000.

Please contact listing broker for confidential offering memorandum.

Current Tenants

Tenant Business Name Cellular Sales of Knoxville

Additional Details

Nearest MSA: Chicago-Naperville-Elgin
County: Lake
Tax ID/APN: 45-07-17-426-009.000-023
Zoning: C1
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Visibility: Excellent
Traffic/Vehicle Count: 41,000
Tenancy: Single Tenant
Property Condition: Excellent
Year Built: 2020
Roof Type: Flat

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,141 130,092 272,352
Median Age: 38.09 37.37 37.47
Households: 4,136 50,150 103,518
© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Kentucky Commercial Real Estate Alliance nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.