808-810 Progress Dr - Office FOR SALE


Farmington, MO 63640
$1,600,000 USD
888-275-0429
808-810 Progress Dr, Farmington, MO for Sale
$1,600,000 USD
Office - FOR SALE
1/39
null | 11.96% Cap Rate

808-810 Progress Dr
Farmington, MO 63640


OVERVIEW

Rare government lease investment opportunity located in Farmington, MO! This four-building property is currently leased to USDA/Farm Services Agency through 2034 (guaranteed through November 2027), with additional tenants to be added. USDA/FSA has occupied the property since 1999. The main 7,238 SF office building (812 Progress Dr.) has recently been remodeled with new furnace, two new A/C units, new doors, new ductwork, and new flooring. The rear building (820 Progress Dr.) is 2,127 SF with a shop, office, loft storage, and overhead door, currently leased to Missouri Department of Conservation. The property sits on 2.53 acres with a vacant 800 SF shop (806 Progress Dr.) with garage door and restroom, accessible via easement from Captain D's, as well as a new 400 SF utility shed with fenced parking bullpen that is shared between tenants. The next year and a half has over $191,000+ net operating income (10.63% initial cap rate). Don't miss this great Core Plus investment opportunity!

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$128 USD /SF

CAP RATE

11.96%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

ADD'L SUBTYPES

Telecom Hotel/Data Hosting, Warehouse, Service

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

A

YEAR BUILT

1995

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

2.53 AC

LAND SF

110,207 SF

ZONING

OP-1

APN/PARCEL ID

14-10-02-00-000-0034.28

ASK ABOUT THIS PROPERTY

Chris ColeLorimont Commercial Real EstateMore Info
888-275-0429

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Chris ColeLorimont Commercial Real EstateMore Info
888-275-0429

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