199 Saddle Creek Dr - Office FOR SALE


Tupelo, MS 38801
$5,135,000 USD
859-907-2006
199 Saddle Creek Dr, Tupelo, MS for Sale
$5,135,000 USD
Office - FOR SALE
1/15
null | 9.5% Cap Rate

199 Saddle Creek Dr
Tupelo, MS 38801


HIGHLIGHTS

  • U.S. Government credit
  • Build-to-suit in 2006
  • Value-Add Opportunity to Negotiate a Long-Term Lease
  • Busy Facility Serving all of Lee County
  • Next Closest SSA is over 48 Miles
  • Convenient Access from Highway 45

OVERVIEW

The Ficke Team of Colliers is pleased to present to qualified investors the opportunity to acquire the Social Security Administration (SSA) located at 199 Saddle Creek Drive, Tupelo, Mississippi. This single-tenant property was build-to-suit for the GSA in 2006 and consists of a 14,700 rentable square-foot office building that includes eighty (80) parking spaces on 3.76 acres. The property is encumbered by the first generation, 18-year gross lease, which was recently extended for two-years firm term, expiring August 22, 2026. This is a busy facility that serves all of Lee County, with convenient access from Highway 45. The next closest Social Security building is over 48 miles in Corinth, MS. This investment option is an excellent value-add opportunity for an investor to negotiate a new long-term lease creating significant value for a long-term hold or disposition upon lease renewal. The GSA lease provides investors with stable returns guaranteed by the US Government (AA+ S&P credit rating). Tupelo is a city in the county seat of Lee County, Mississippi. Tupelo is the seventh most populous city in Mississippi and is considered a commercial, industrial, and cultural hub of North Mississippi. The city has also attracted manufacturing, retail, and distribution operations. Recently, Tupelo has become a strong tourism and hospitality sector based around the Elvis Presley birthplace and Natchez Trace historic forest trail.

FOR SALE DETAILS

PRICE

$5,135,000 USD

PRICE/SF

$349 USD /SF

CAP RATE

9.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

3.76 AC

LAND SF

163,786 SF

ZONING

-

APN/PARCEL ID

077N-35-028-09

ASK ABOUT THIS PROPERTY

Geoff FickeColliersMore Info
859-907-2006

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Geoff FickeColliersMore Info
859-907-2006

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