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199 Saddle Creek Dr 14,700 SF Office Building Tupelo, MS 38801 $7,168,049 CAD ($487.62 CAD/SF) 9.50% Cap Rate
INVESTMENT HIGHLIGHTS
- U.S. Government credit
- Value-Add Opportunity to Negotiate a Long-Term Lease
- Next Closest SSA is over 48 Miles
- Build-to-suit in 2006
- Busy Facility Serving all of Lee County
- Convenient Access from Highway 45
EXECUTIVE SUMMARY
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.
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.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Build to Suit
Property Type
Office
Building Size
14,700 SF
Building Class
B
Year Built
2003
Price
$7,168,049 CAD
Price Per SF
$487.62 CAD
Cap Rate
9.50%
NOI
$680,965 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
14,700 SF
Building FAR
0.09
Lot Size
3.76 AC
Zoning
C1 - Commercial
Parking
60 Spaces (4.08 Spaces per 1,000 SF Leased)
1 1
PROPERTY TAXES
| Parcel Number | 077N-35-028-09 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $285,094 CAD |
PROPERTY TAXES
Parcel Number
077N-35-028-09
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$285,094 CAD
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199 Saddle Creek Dr
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