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Social Security Administration

80 Veterans Memorial Drive, Kosciusko, MS 39090

$1,841,000

Cap Rate 7.75%

Views: 53 DOM: 131 Updated: 08.28.24 Posted: 05.09.24 Status: Active

Summary

Price $1,841,000
Built/Renov 2003
Tenant Social Security Administration
Cap Rate 7.75%
Lease Type Modified Gross
Guarantor Corp Rated
Size/SF 6,700
Lease Start 09-02-2024
#Units 1,318
Price/SF $274.78
Expiration 08-31-2034
Tenant Type Government
NOI $142,665
R. Term 9.11
Ownership Fee Simple
Rent/SF $21.29
Increases 10.0%/6/yrs
Pop 5Mi 13,749
Lot/AC 2.44
Options 0/0yrs
AHHI 5Mi $63,176

Geoff Ficke
Colliers
Contact

Zachary Ficke
Colliers
Contact

Lease Highlights

  • Social Security Administration (SSA) recently executed a brand new 10-year lease 
  • The lease features 10% rental escalations throughout the initial term starting year 6
  • New HVAC and landlord-controlled thermostats
  • Backed by U.S. Government (S&P: AA+)

Location Description

Social Security Administration field office is strategically located on Veterans Memorial Drive. This single-tenant facility, built-to-suit in 2003, consists of 6,700 rentable square feet and 38 parking stalls. The site includes 2.44 acres and is a busy facility with the nearest SSA office over 35 miles in Philadelphia, MS. The 5-mile trade area is supported by a population of 13,749 residents...

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Key Features

  • Recent building upgrades

  • Build to suit

  • In location for years

  • Brand new lease

  • Long operation history

  • Long 10+ yr lease

  • Corporate Guarantee

  • Investment grade tenant

  • Over 1000 units backed

  • Credit rated company

    • ...

Links

Social Security Administration Wikipedia Social Security Administration Broker Site Page

Documents

Download OM

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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Listing Broker

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