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Zeekin

U.S. Department of Agriculture

3500 Wabash Avenue, Springfield, IL 62711

$3,180,000

Cap Rate 8.50%

Views: 96 DOM: 191 Updated: 10.04.24 Posted: 05.16.24 Status: Active

Summary

Price $3,180,000
Built/Renov 2011
Tenant U.S. Department of Agriculture
Cap Rate 8.50%
Lease Type Modified Gross
Guarantor Corp Rated
Size/SF 18,693
Lease Start 04-01-2023
#Units 4,500
Price/SF $170.12
Expiration 03-31-2028
Tenant Type Government
NOI $270,146
R. Term 3.4
Ownership Fee Simple
Rent/SF $14.45
Increases 0.0%/0/yrs
Pop 5Mi 85,765
Lot/AC 1.69
Options 0/0yrs
AHHI 5Mi $81,988

Geoff Ficke
Colliers
Contact

Zachary Ficke
Colliers
Contact

Lease Highlights

  • Recent 2023 renovations
  • U.S. Department of Agriculture has 3+ years remaining on the current lease term with no options to extend
  • Mission critical State Executive Director Office that serves 93 offices located in all Illinois County seats
  • Backed by the U.S. Government (S&P: AA+)

Location Description

U.S. Department of Agriculture is strategically located on Wabash Avenue. The 5-mile trade area is supported by a population of 85,765 residents with an affluent average household income of $81,988. Springfield, the capital city of Illinois and the county seat of Sangamon County, had a population of 114,394 according to the 2020 census. It ranks as the state's seventh most populous city, the...

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Key Features

  • Recent renovation

  • Build to suit

  • Affluent suburb location

  • Over 2000 units backed

  • Corporate Guarantee

  • Investment grade tenant

  • Credit rated company

    • ...

Links

U.S. Department of Agriculture Wikipedia U.S. Dept. of Agriculture Wikipedia Springfield, Illinois Zip Code 62711 Broker Site Page

Documents

Download OM

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: U.S. Dept of Argriculture
  • Guarantor:Corp Rated
  • Company:U. S. Federal Government
  • # Units:4,500
  • Tenant S&P: AA+
  • Moody’s: Aaa
  • Stock:Private

About Tenant

The United States Department of Agriculture (USDA) is an executive department of the United States federal government that aims to meet the needs of commercial farming and livestock food...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 4,216 37,913 87,753
2024 Total Population : 4,167 38,112 88,334
2024 Employed Civilian Pop : 2,271 19,330 43,836
2024 Total Businesses : 648 2,112 5,089
2024 Average Household Income : $ 135,487 $ 123,909 $ 103,633
2024 Total Consumer Spending : $ 239 M $ 1926 M $ 3758 M
2024 Median Age : 47 45 42
2024 Total Households : 2,036 17,850 41,215
2024 Pop Age 25+: Bachelor's Degree : 1,004 7,986 15,399
2024 Average Home Value : $ 259,211 $ 272,989 $ 228,848
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Hollis Dr S Koke Mill Rd 2017 3,850 0.08 mi
S Koke Mill Rd Progress Dr 2017 5,100 0.13 mi
Hollis Drive S Koke Mill Rd 2022 4,050 0.26 mi
Cockrell Lane Ogden Rd 2022 4,100 0.27 mi
Robbins Road Progress Dr 2022 7,000 0.28 mi
Robbins Rd Wabash Trl 2017 8,200 0.31 mi
Wabash Avenue S Koke Mill Rd 2017 14,700 0.32 mi
Mayflower Blvd 2022 4,100 0.32 mi
S Koke Mill Rd Wabash Ave 2017 9,150 0.33 mi
Hollis Drive Wabash Ave 2022 3,300 0.37 mi

Listing Broker

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