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Views: 188 DOM: 206 Updated: 10.04.24 Posted: 06.04.24 Status: Active

Summary

Price $1,745,000
Built/Renov 2011
Tenant Social Security Administration
Cap Rate 7.75%
Lease Type Modified Gross
Guarantor Corp Rated
Size/SF 6,500
Lease Start 08-31-2022
#Units 1,318
Price/SF $268.46
Expiration 08-30-2032
Tenant Type Government
NOI $135,257
R. Term 7.8
Ownership Fee Simple
Rent/SF $20.81
Increases 0.0%/0/yrs
Pop 5Mi 18,537
Lot/AC 0.59
Options 0/0yrs
AHHI 5Mi $70,170

Lease Highlights

  • Social Security Administration has been operating in this location since 2011
  • The tenant has 7+ years remaining on the current lease term
  • Well-maintained masonry building
  • Lease guaranteed with the full faith and credit of the U.S. Government (S&P: AA+)

Location Description

The Social Security Administration is strategically located at the signalized, hard corner intersection of Vernon Street and South 7th Street. The property is surrounded by well-known national tenants, including Pizza Hut, Advance Auto Parts, Wendy's, Little Caesars Pizza, Buffalo Wild Wings, and more. The 5-mile trade area is supported by a population of 18,537 residents with an average...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Social Security Administration
  • Guarantor:Corp Rated
  • Company:U.S. Federal Government
  • # Units:1,318
  • Tenant S&P: AA+
  • Moody’s: Aaa
  • Stock:Private

About Tenant

The United States Social Security Administration (SSA) is an independent agency of the United States federal government that administers Social Security, a social insurance program consisting of...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 5,329 24,243 43,427
2024 Total Population : 5,516 24,971 44,486
2024 Employed Civilian Pop : 1,977 10,102 17,516
2024 Total Businesses : 373 1,004 2,046
2024 Average Household Income : $ 58,528 $ 75,721 $ 72,302
2024 Total Consumer Spending : $ 127 M $ 708 M $ 1204 M
2024 Median Age : 44 44 44
2024 Total Households : 2,409 10,377 18,412
2024 Pop Age 25+: Bachelor's Degree : 479 2,322 3,941
2024 Average Home Value : $ 136,785 $ 155,359 $ 155,900
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Park Ave S 5th St 2016 13,323 0.08 mi
Park Avenue S 8th St 2021 14,497 0.12 mi
N 6TH ST Railroad St 2020 2,521 0.14 mi
North 5th Street Railroad St 2021 4,462 0.17 mi
Park Avenue S 4th St 2021 6,236 0.18 mi
Railroad Street N 5th St 2021 2,763 0.21 mi
South 3rd Street Washington St 2021 3,925 0.25 mi
SR-93 SB RAMP PkDr 2021 2,203 0.26 mi
Park Dr PkAve 2018 16,611 0.26 mi
Lawrence Street N 5th St 2021 681 0.26 mi

Listing Broker

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