306 11th Street Sw Plz - Office FOR SALE


Spencer, IA 51301
$1,342,000 USD
678-347-2250
306 11th Street Sw Plz, Spencer, IA for Sale
$1,342,000 USD
Office - FOR SALE
1/1
null | 8% Cap Rate

306 11th Street Sw Plz
Spencer, IA 51301


HIGHLIGHTS

  • U.S. Department of Agriculture (USDA) and All Risk Crop Insurance
  • Credit Strength
  • High Renewal Probability & Long-Term Tenant
  • Commitment to the Property
  • Strong Residual Value
  • Location

OVERVIEW

Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase this two-tenant property located at 306 11th Street SW Plaza (the "Property"). It is a one-story, 5,768 net rentable square foot property, with the U.S. Department of Agriculture (USDA) occupying 4,434 rentable square feet and All Risk Crop Insurance leasing the remaining 1,334 rentable square feet. The building was constructed as a build-to-suit for USDA in 1970, with the most recent USDA lease commencing in May 2023, and a recent early lease extension that goes through April of 2033.

FOR SALE DETAILS

PRICE

$1,342,000 USD

PRICE/SF

$303 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

U.S. Department of Agriculture (USDA)

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

-

YEAR BUILT

1970

SPRINKLERS

-

PARKING SPACES

46

LAND DETAILS

LAND ACRES

1.24 AC

LAND SF

54,014 SF

ZONING

C-2 Highway Commercial

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Brian LaneNorthmarqMore Info
678-347-2250

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Brian LaneNorthmarqMore Info
678-347-2250

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