309 N Church St - Office FOR SALE


Dyersburg, TN 38024
$2,800,000 USD
859-907-2006
309 N Church St, Dyersburg, TN for Sale
$2,800,000 USD
Office - FOR SALE
1/8
null | 8.68% Cap Rate

309 N Church St
Dyersburg, TN 38024


HIGHLIGHTS

  • Anchored by a busy, full-service post office with passport application processing and 21 carrier routes
  • Long-term private tenants
  • Value-Add component to lease two vacant suites
  • S&P AA+ investment grade credit tenants
  • Long-term U.S. Fish and Wildlife Service and Office of Hearing and Appeals tenants
  • Newer roof, chiller and automated heat and A/C controls

OVERVIEW

The Ficke Team of Colliers has been retained to exclusively market for sale the Jere E. Cooper Federal Building located at 309 North Church Ave., Dyersburg, TN, 38024. This multi-tenanted building consists of 33,318 rentable square feet and is anchored by the United States Post Office (USPS), representing 53.50% of the property with its full-service post office that includes passport application processing. This is a busy and effective Post Office with 21 carrier routes in zip code 38024. The USPS lease renewed on August 1, 2024, for 5-years firm term, and includes tenant responsibility for 53% of the real estate taxes. In addition to the USPS, there are two federal government tenants, the U.S. Fish and Wildlife Service, and the Office of Hearing and Appeals. The U.S. Fish and Wildlife renewed their lease effective August 1, 2022, for 10-years firm and 15-years overall. The Office of Hearing and appeals leased commenced June 15, 2019, for 10-years firm 15 years overall with a 5-year renewal option. The weighted average remaining lease term for the three (3) government tenants is 5.18 years firm term and 7.08 years overall. There are also seven (7) private, long-term tenants, and a value-add component to lease two vacant suites. This building is well-maintained with a newer roof and automated controls for heat and A/C installed in 2019, and new chiller in 2016. Dyersburg is a city in and the county seat of Dyer County, Tennessee. It is located in northwest Tennessee and is considered the gateway to middle America. Dyersburg is a regional retail, medical, employment and cultural center for more than 300,000 people who live in a tri-state area that includes Tennessee, Arkansas and Missouri.

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$72 USD /SF

CAP RATE

8.68%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

100

LAND DETAILS

LAND ACRES

2.1 AC

LAND SF

91,476 SF

ZONING

-

APN/PARCEL ID

099B-E-007.00

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.