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Social Security Administration (SSA) 2350 4th Ave 9,260 SF Office Building Rock Island, IL 61201 $1,850,990 CAD ($199.89 CAD/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- U.S. Government credit (AA+ S&P credit rating)
- Build-to-Suit in 2001
- Long-Term Tenant since 2001
- High-Quality and Well-Maintained Masonry Building
- Lease Renewed for 10-Years effective 5/24/2022
- Busy Facility Serving all of Rock Island County
EXECUTIVE SUMMARY
This single-tenant facility, built-to-suit in 2001, consists of 9,260 rentable square feet. The site includes 0.47 acres and is an extremely busy facility. The GSA/SSA executed a 10-year, 5-year firm term renewal effective May 24, 2022, with the firm term expiring May 24, 2027, and full term expiring 5/24/2032, illustrating their commitment to the location. There were no tenant improvement requirements for this well-maintained building. Serving all of Rock County Illinois, the next closest SSA to Rock Island Illinois is 38 miles in Galesburg Illinois. This lease provides investors with a stable cash flow from this long-term U.S. Government tenant (AA+ S&P credit rating).
Rock Island is part of the Quad Cities area, which consists of Rock Island, Moline, and East Moline in Illinois, and Davenport and Bettendorf on the Iowa side of the river. The Quad Cities area combined population is close to 400,000. The area has major, private sector employers ranging from global manufacturing giants to food suppliers, from aerospace to defense. The Quad Cities comprises several close municipalities in eastern Iowa and western Illinois. It is easily accessible by rail, barge, and air and sits at the junction of Interstates 74, 80, and 88. This mid-sized metropolitan area is large enough for a great transportation infrastructure, cultural attractions, and high quality of life, yet small enough for ease of travel, low cost of living, and low crime rate.
PROPERTY FACTS
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
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- Public Administration
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Social Security provides financial protection for the nation’s people, supporting Americans throughout all of life’s journeys. They administer retirement, disability, survivor, and family benefits, and enroll individuals in Medicare. They also provide Social Security Numbers, which are unique identifiers needed to work, handle financial transactions, and determine eligibility for certain government services. Social Security provides retirement income for almost every American worker. They also administer Supplemental Security Income (SSI) to some individuals over a certain age who have limited income and resources. With retirement, disability, and survivors benefits, Social Security is one of the most successful anti-poverty programs in the nation's history. Social Security is committed to helping maintain the basic well-being and protection of the people they serve. They pay benefits to millions of people including retirees, children, widows, and widowers.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Public Administration | - | $9.99 | Lorem Ipsum | Jan 0000 |
PROPERTY TAXES
| Parcel Number | 07-35-225-003 | Improvements Assessment | $597,047 CAD |
| Land Assessment | $41,312 CAD | Total Assessment | $638,359 CAD |
PROPERTY TAXES
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Social Security Administration (SSA) | 2350 4th Ave
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