318 E State Highway 152
Mustang, OK 73064
Verizon Wireless · Retail Property For Sale

The Chetek Group of Marcus & Millichap is pleased to present the opportunity to acquire a single tenant net leased Verizon Wireless property located in the Oklahoma City MSA, approximately 15 miles west of downtown Oklahoma City. The property is located in a retail corridor within a dense residential community. The property is brand new construction and has excellent street-front visibility. Verizon Wireless has more than 9 years remaining on the lease which expires February 28, 2027. The modified triple net lease features a 10 percent rent bump in 2022 and in each of the two 5-year renewal option periods. Verizon Wireless provides wireless services to over 130 million subscribers making it the largest wireless telecommunications provider in the United States. Verizon Wireless is a wholly owned subsidiary of Verizon Communications, a publicly traded company on the New York Stock Exchange using the symbol “VZ”. The Verizon Wireless lease is guaranteed by Cellular Sales of Knoxville, the largest Verizon Wireless retailer in the United States with more than 600 stores. The 2,400 square-foot property is located along State Highway 152, the primary east-west thoroughfares in Mustang, OK. State Highway 152 experiences traffic counts of approximately 23,000 vehicles per day. Retailers located in the area include Walmart Supercenter, Lowe’s Home Improvement, CVS Pharmacy, Walgreens, O’Reilly Auto Parts, NAPA Auto, Tractor Supply and a number of national quick service restaurants. The property is also located within close proximity to multiple residential communities, local businesses, and schools. Mustang High School, Mustang Middle School and Mustang Elementary School are located roughly one mile from the property. The Oklahoma National Guard headquarters and St. Anthony Healthplex Mustang, a fully licensed freestanding Emergency care hospital, are located less than one-quarter mile from the property. There are over 54,425 people living within a five mile radius of the property earning an average household income of $88,228 per year.