675 N Germantown Pkwy Cordova, TN 38018

This property features an ±11.50-year remaining base term on a 20-year ground lease. T-Mobile subleases the space from a Hardee’s franchisee, with the sublease running through July 2031 and including three 5-year options. T-Mobile currently pays the Hardee’s franchisee $10,000 per month, which is $3,125 more than the base rent of the original lease. The franchisee operates 32 Hardee’s locations and 6 7Brew locations. The lease is an absolute NNN lease with zero landlord responsibilities. The property benefits from attractive 10% rent increases every 5 years, with the next increase scheduled for December 2026. The property is situated on a large 1-acre parcel in Cordova, a wealthy suburb of Memphis, TN. It is surrounded by a dense variety of national retailers, including Walmart, Kroger, Panera, CVS, Starbucks, HomeGoods, ALDI, Chipotle, Aspen Dental, Petco, Party City, Outback Steakhouse, IHOP, Dunkin’, Tropical Smoothie, Whataburger, Freddy’s, AutoZone, and Discount Tire. Traffic counts on Germantown Pkwy exceed 57,300 vehicles daily. The 5-mile population is 146,019 residents. The property includes four 5-year options with 10% rent increases.