Property details

Off Market Social Security Administration Single Tenant, Great Lakes - Big Rivers Region

Property Description

Off Market Social Security Administration Single Tenant

Coming to market shortly.

Brand new 10 year lease extension (firm term).

They just spent a significant amount of money on tenant improvements updating the building, showing their intention to be there long-term.

Typical GSA SSA lease.

Rent is $160,000, expenses are about $38,000, so $122k NOI.

Asking price will be $1,765,000 which comes out to about a 6.85% cap.

It is expected that this property will be well received when taken out to market due to their history here, new extension and recent remodel.



Net Lease Properties For Sale



Please update your file: our updated phone number is: Direct Phone / Text: (808) 283-8980

About the Tenant

Federal Government backed.

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Highlights

Status:
Available
Price:
$1,765,000
Cap Rate:
6.85%
Annual Rent:
$122,000
Rent Increases:
Inquire
 

Property Information

Property Type:
Net Lease
Industry Type:
Government
Units/Spaces:
1
Purchase Tenure:
Fee Simple
 

Lease information

Tenant:
Social Security Administration
Lease Type:
NN
Lease Commencement:
09/14/2019
Lease Expiration:
09/14/2019
Lease Remaining:
10.0 years
Landlord Responsibilities:
Typical SSA lease
Options:
Inquire
 

Existing financing information

N/A

The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.