120 Executive Park Ln - Office FOR SALE


Selma, AL 36701
$3,384,000 USD
770-209-1700
120 Executive Park Ln, Selma, AL for Sale
$3,384,000 USD
Office - FOR SALE
1/3
null | 7.5% Cap Rate

120 Executive Park Ln
Selma, AL 36701


HIGHLIGHTS

  • 7.5% cap rate on 2025 projected net income
  • Term through 11/11/2033 / Firm term through 11/11/2028 / Rent escalation last 5 years of term
  • $87,474 annual renovation reimbursement paid to landlord through May 2029
  • Single story brick built 2003, renovated 2018, new roof
  • Operating expense reimbursement and CPI formula increases
  • Increases of property taxes over a base year reimbursement

OVERVIEW

The single tenant leased office investment is a build to suit for the Social Security Administration serving as a field office. The 13,421 square foot single story brick building was constructed in 2003 with substantial renovation in 2018. The renovation work was comprised of HVAC upgrades, new offices and front interview areas and CAT 6 cable upgrades. A new roof was installed in 2024. The renovation costs plus interest are repaid to the landlord amortized over the lease term at $87,474 per year through May 2029. In addition to rent, the landlord is paid for operating expenses with an annual CPI formula increase and increases of property taxes over a base year. The lease term is through November 11, 2033 with firm term through November 11, 2028, after which the lease may be terminated early. A third party study reported only 2.82% of GSA leases are terminated early, and one reason is a lack of expansion space. The 2.2 acre site can accommodate expansion.

FOR SALE DETAILS

PRICE

$3,384,000 USD

PRICE/SF

$252 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

GSA Leased Investment SSA Selma

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

83

LAND DETAILS

LAND ACRES

2.33 AC

LAND SF

101,291 SF

ZONING

OI

APN/PARCEL ID

11-08-27-1-002-003.0120

ASK ABOUT THIS PROPERTY

Matthew LevinSVN Interstate BrokersMore Info
770-209-1700

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Matthew LevinSVN Interstate BrokersMore Info
770-209-1700

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.