2603 Hart St
Vincennes, IN 47591
Verizon Wireless · Retail Property For Sale

Marcus & Millichap is pleased to exclusively present for your acquisition review the net leased Verizon Wireless in Vincennes, Indiana. The 1,617 square foot building sits on a 0.72 acre parcel of land and is well positioned with excellent visibility off Hart Street. The Verizon store sits across the street from a Walmart Supercenter anchored shopping center, as well as Kohl’s, Office Max, Applebee’s, KFC, Hampton Inn and two car dealerships. There is a Ponderosa Steakhouse next door and an AMC Theatre, Arby’s, Comfort Suites and Steak ‘n Shake all nearby as well. Verizon is situated as a U.S. Route 41 exit location, on the southeast side of Vincennes, which is the county seat of Knox County and is halfway between Evansville and Terre Haute. Verizon Wireless signed an original 10-year lease in August 2015, with the current lease set to expire on August 31, 2025 leaving 5.5 years remaining. There are rare rent increases every five years, including the base term increase that has already been exercised, and in each of the three, five-year renewal options. The lease is classified as double net, with the landlord being responsible for the roof and structure of the building and the tenant responsible for all common area maintenance, insurance and tax expenses and the HVAC. The lease is guaranteed by The Cellular Connection, LLC. The Cellular Connection, LLC., formerly known as Moorehead Communications, and doing business as, TCC, is the largest Verizon Premium Wireless Retailer in the country with more than 1,160 locations across 41 states. It is the 12th largest privately-held company in the state of Indiana and is headquartered in Carmel, Indiana.