Log In/Sign Up
Your email has been sent.
Social Security Administration and USDA 1 Offices Properties Offered at $3,410,708 CAD in Spencer, IA
INVESTMENT HIGHLIGHTS
- Long-Term U.S. Government Lease Signed
- Commitment to the Property
- Strong Residual Value
- Credit Strength
- High Renewal Probability & Long-Term Tenant
- Location
EXECUTIVE SUMMARY
Northmarq Commercial is pleased to offer for sale to qualified investors the opportunity to purchase a portfolio of two GSA-leased office properties that are situated one mile apart in Spencer, Iowa (the "Properties").
The office property at 1610 12th Avenue SW is a Social Security Administration field office—a 100% leased, single-tenant, one-story, 5,200-net-rentable-square-foot facility.The building was constructed in 2005 as a build-to-suit for the SSA, and substantial tenant improvements were completed in 2025 by the tenant on a15-year lease that commenced in April of 2021.
The two-tenant property located at 306 11th Street SW Plaza 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-tosuit for USDA in 1970, with the most recent USDA lease commencing in May 2023 for five years.
The office property at 1610 12th Avenue SW is a Social Security Administration field office—a 100% leased, single-tenant, one-story, 5,200-net-rentable-square-foot facility.The building was constructed in 2005 as a build-to-suit for the SSA, and substantial tenant improvements were completed in 2025 by the tenant on a15-year lease that commenced in April of 2021.
The two-tenant property located at 306 11th Street SW Plaza 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-tosuit for USDA in 1970, with the most recent USDA lease commencing in May 2023 for five years.
PROPERTY FACTS
| Price | $3,410,708 CAD | Number of Properties | 2 |
| Price / SF | $655.91 CAD / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 5,200 SF |
| Status | Active | Total Land Area | 0.92 AC |
| Price | $3,410,708 CAD |
| Price / SF | $655.91 CAD / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 5,200 SF |
| Total Land Area | 0.92 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 1610 12th Ave SW, Spencer, IA 51301 | Office | 5,200 SF | 2005 | - |
1 1
1 of 2
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Social Security Administration and USDA
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.