T-Mobile NNN Investor Hub | Cap Rate Trends, Credit Rating Trends, Lease Terms & Due Diligence
Last Year Cap
6.9%
This Year Cap
7.2%
Cap Change
0.3%
Last Year Rating
BBB
This Year Rating
BBB-
Rating Change
Down
T-Mobile – NNN Cap Rate Trend
Cap Rate Trends
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | Tenant | Year | Cap Rate |
|---|---|---|---|---|---|---|---|
| 5779 | admin2 | 2026 04:17 AM | admin2 | 2026 04:17 AM | 7 Brew | 2,020 | 6.5 |
| 5780 | admin2 | 2026 04:17 AM | admin2 | 2026 04:17 AM | 7 Brew | 2,021 | 6.3 |
| 5781 | admin2 | 2026 04:17 AM | admin2 | 2026 04:17 AM | 7 Brew | 2,022 | 6.0 |
| 5782 | admin2 | 2026 04:17 AM | admin2 | 2026 04:17 AM | 7 Brew | 2,023 | 6.3 |
| 5783 | admin2 | 2026 04:17 AM | admin2 | 2026 04:17 AM | 7 Brew | 2,024 | 6.6 |
| 5784 | admin2 | 2026 04:17 AM | admin2 | 2026 04:17 AM | 7 Brew | 2,025 | 6.6 |
| Tenant | Year | Cap Rate |
Credit (what net-lease buyers care about)
Credit Snapshot
T-Mobile
T-Mobile Net Lease: Secure, Essential Investment
T-Mobile US is a nationally recognized telecommunications company and investment-grade net lease tenant. This guide reviews cap rates, lease structures, tenant credit, and key due diligence considerations for buyers and sellers evaluating T-Mobile net lease properties.
For 1031 exchange buyers, T-Mobile ground lease properties are important to compare against fee simple T-Mobile assets, as lease structure can materially impact pricing, financing, long-term flexibility, and resale value.
Investors often target T-Mobile assets for:
- Stable Service-Based Income Potential
- Essential Wireless and Connectivity Services
- Strong Investment-Grade Tenant Credit
- Attractive 1031 Exchange Compatibility
T-Mobile ground lease properties require close evaluation of rent escalations, remaining lease term, extension options, site utility, and residual land value versus fee simple ownership.
T-Mobile Ground Lease Properties for 1031 Exchange Buyers
T-Mobile ground lease properties often trade differently than fee simple T-Mobile assets. Buyers should carefully evaluate lease structure, remaining lease term, renewal options, landlord responsibilities, and long-term re-tenanting flexibility to better understand risk and return characteristics. Many T-Mobile locations occupy high-traffic retail corridors and dense suburban trade areas, making real estate quality, visibility, demographics, and site functionality important factors when underwriting long-term investment performance and resale value.
T-Mobile – Credit Trend (S&P vs Moody’s)
Tenant_Rating_Trend
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | TenantKey | Tenant | Year | Moody | SP | Moody_Grade | SP_Grade | Moody_GradeRank | SP_GradeRank |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | admin2 | 2025 03:43 PM | admin2 | 2025 03:43 PM | 7eleveninc | 7-Eleven, Inc. | 2022 | Baa2 | A | Lower Medium Grade | Upper Medium Grade | 5 | 6 |
| 2 | admin2 | 2025 03:43 PM | admin2 | 2025 03:43 PM | 7eleveninc | 7-Eleven, Inc. | 2023 | Baa2 | A | Lower Medium Grade | Upper Medium Grade | 5 | 6 |
| 3 | admin2 | 2025 03:43 PM | admin2 | 2025 03:43 PM | 7eleveninc | 7-Eleven, Inc. | 2024 | Baa2 | A | Lower Medium Grade | Upper Medium Grade | 5 | 6 |
| 4 | admin2 | 2025 03:43 PM | admin2 | 2025 03:43 PM | 7eleveninc | 7-Eleven, Inc. | 2025 | Baa2 | A | Lower Medium Grade | Upper Medium Grade | 5 | 6 |
| 5 | admin2 | 2025 03:43 PM | admin2 | 2025 03:43 PM | 99centsonlystoresllc | 99 Cents Only Stores, LLC | 2022 | Caa2 | CCC+ | Substantial Risk | Substantial Risk | 2 | 2 |
| TenantKey | Tenant | Year | Moody | SP | Moody_Grade | SP_Grade | Moody_GradeRank | SP_GradeRank |
T-Mobile Stock Price (NASDAQ: TMUS)
T-Mobile Investment Market Statistics
AVERAGE SALE PRICE
BUILDING SIZE
AVERAGE NOI
LAND
$/SF RANGE
LEASE TERM SHOWN
T-Mobile Investor Snapshot (Quick Facts)
Origins & Growth (Past)
• Founded in 1994 as VoiceStream Wireless
• Expanded through wireless acquisitions and mergers
• Rebranded as T-Mobile USA in 2002
• Built nationwide wireless network infrastructure
• Expanded 4G and 5G network capabilities
• Became leading U.S. wireless provider
Where T-Mobile Stands Today
• Extensive nationwide wireless network footprint
• Leading U.S. wireless telecommunications provider
• Millions of daily wireless and data connections
• Primarily corporate-operated retail locations
• Expanding 5G and digital service platforms
• Focus on network efficiency and cost control
Where T-Mobile Stands Today
• 5G Expansion
• Wireless Growth
• Network Efficiency
• Mobile Connectivity
• Broadband Expansion
• Customer Growth
• Retail Optimization
• Digital Adoption
Why investors buy T-Mobile NNN Properties or T-Mobile ground Lease Properties?
Pros (what buyers like)
- Strong tenant credit
Investment-grade wireless carrier with national scale - Essential wireless services
Mobile connectivity and broadband support recurring demand - Prime retail locations
Often located on major corridors and signalized intersections - Recognized national brand
Large customer base with strong market presence - Attractive lease structures
Long-term NNN and ground leases appeal to passive and 1031 buyers - Growing wireless and 5G demand
Mobile data usage and broadband adoption continue expanding
Cons (what can bite you)
- Lease structure variability
Some assets may be NN or modified NNN with landlord responsibilities - Retail footprint optimization risk
Store consolidation trends may affect certain locations over time - Flat or limited rent growth
Some leases contain minimal rent escalations - Re-tenanting challenges
Telecom-specific layouts may limit alternative tenant reuse - Location sensitivity
Secondary retail corridors may experience weaker long-term demand - Changing technology trends
Rapid telecom evolution can impact store strategy and format needs
Investor Decision Framework (Buy / Hold / Sell)
✓ Strong “Buy Box” for a T-Mobile Net Lease
• 10–15+ years term remaining with renewal options • Absolute NNN or landlord-light lease structure • Prime retail corridor with strong traffic and visibility • Signalized intersection or high-density trade area location • Strong wireless market coverage and customer demand • Rent aligned with market fundamentals and resale positioning • Modern store format with strong long-term usability
02
⚠ Yellow Flags (Price Accordingly)
• NN lease (not true NNN) with landlord responsible for roof, structure, or site work • Flat rent with limited or no rent escalations • Older or outdated retail store format with weaker long-term utility • Non-prime location with weak visibility, access, or traffic counts • Retail store consolidation risk due to evolving wireless sales trends • Telecom-specific layouts that may limit alternative tenant reuse • Short remaining lease term without strong renewal options
Find out more
T-Mobile Background & History
T-Mobile US is a national telecommunications company best known for its extensive wireless network, mobile services, and retail store presence across the United States. What began as a regional wireless provider evolved into one of the country’s largest telecommunications companies focused on wireless connectivity, broadband access, and digital communication services for both consumers and businesses.
Over time, the company built a nationwide footprint through wireless expansion, spectrum acquisitions, and major industry mergers. Today, customers rely on T-Mobile locations and services for mobile connectivity, internet access, wireless devices, and broadband solutions.
As consumer demand has shifted toward mobile data, digital connectivity, and faster wireless speeds, the company has adapted through 5G deployment, broadband expansion, digital platforms, and operational efficiencies that support growing network usage and customer demand.
Why T-Mobile Matters to NNN Investors
T-Mobile operates one of the largest wireless networks in the United States, serving millions of customers daily. The business model is centered on essential communication services, recurring subscription revenue, and retail locations positioned along major corridors and dense population centers.
Many T-Mobile locations occupy prime retail real estate with strong visibility, high traffic exposure, and convenient customer access, which helps support consistent consumer activity. In addition, the company continues to invest in 5G infrastructure, broadband services, and digital platforms to improve operational efficiency and customer engagement.
This focus on essential connectivity services helps explain why T-Mobile remains relevant as telecommunications technology continues to evolve. Management continues to optimize retail locations and adapt to changing consumer behavior, mobile usage trends, and digital service adoption.
What Buyers and Sellers Should Evaluate
For investors evaluating T-Mobile NNN properties, a T-Mobile net lease, or a T-Mobile ground lease, the investment thesis is typically centered on real estate quality, tenant credit strength, and long-term location relevance. As a result, buyers often place greater emphasis on lease structure, site fundamentals, demographics, and long-term usability than on brand recognition alone.
Common searches include T-Mobile real estate, T-Mobile cap rate, T-Mobile lease term, T-Mobile tenant credit, and T-Mobile store performance. Ultimately, T-Mobile net lease value is driven by site-specific factors, lease economics, traffic exposure, and how the location fits within the company’s broader retail and service network.
As wireless technology and consumer behavior continue to evolve, the strongest T-Mobile locations tend to be those that remain strategically positioned within dense retail trade areas. Buyers and sellers should evaluate each property individually, including ingress and egress, visibility, surrounding population density, nearby competition, lease language, and landlord responsibilities.
In addition, investors should consider long-term cash-flow durability, retail footprint optimization trends, evolving technology needs, and how the asset may perform across different hold periods and exit strategies.
our team of experts are here for you
Our team helps investors evaluate NNN properties with practical, market-based guidance. In addition, we support buyers and sellers with lease review, pricing analysis, and due diligence strategy.
Whether you are comparing T-Mobile ground lease properties or fee simple T-Mobile assets, we can help you review the details that affect risk and long-term value. As a result, clients can make more confident decisions based on lease structure, location quality, and investment goals.