T-Mobile

Lowest
Cap Rate

5.00%

Lowest cap rate over past 24 months

Average
Cap Rate

5.75%

12 mo avg with 5+ yr lease term

Overview

T-Mobile retail stores are typically 1,200 to 2,000 square feet, located in inline strips, endcaps, or small outparcels in high-traffic retail centers. Lease terms are generally 10- to 15-year absolute NNN, with 7% to 10% rent increases every 5 years, and are corporately guaranteed by T-Mobile US, Inc. These locations focus on customer acquisition, bill payment, and device sales.

Average Property & Lease

Average Sale Price	$1,400,000 – $2,200,000
Average NOI	$80,000 – $125,000
Building SF	1,200
Lease Term	10 Years
Escalations	7% every 5 years
Stock Symbol	NASDAQ:TMUS

CREDIT RATING

S&P	BBB+
Moody's	Baa1

TENANT DESCRIPTION

T-Mobile was founded in 1994 as VoiceStream Wireless and rebranded as T-Mobile in 2002 after its acquisition by Deutsche Telekom. In 2020, T-Mobile completed its merger with Sprint, solidifying its position as the second-largest wireless carrier in the U.S. The brand is known for its aggressive pricing, 5G coverage, and consumer-friendly policies. Operated under T-Mobile US, Inc., the company is publicly traded and majority-owned by Deutsche Telekom.

Founded	1994
Headquarters	Bellevue, WA, U.S.
Number of Locations	7,000
Revenue	$80.1 B
Company Website	https://www.t-mobile.com
Key Principal	Mike Sievert

T-Mobile

Lowest Cap Rate

5.00%

Average Cap Rate

5.75%

Overview

Average Property & Lease

CREDIT RATING

S&P

BBB+

Moody's

Baa1

TENANT DESCRIPTION

PROS

CONS

COMPANY QUICK STATS

Lowest
Cap Rate

Average
Cap Rate