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.
Federal Government backed.
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