8% CAP - Fully Leased - Federal Government Tenant

Office for Sale
Sale Pending
Catylist Listing ID: 30758875
Property Subtypes: Governmental
Status: Pending
Building Size (RSF): 5,526 SF
Gross Land Area: 35,981 SF
Sale Price: $899,000
Unit Price: $162.69 PSF
Property Use Type: Investment
Building Name: USDA
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 8.0%
Last Updated: 9/21/2021

Overview / Comments

Investment opportunity now available. With a new 7-year Federal Government lease, this property boasts an 8% Capitalization rate.

The newly renovated office building is conveniently located at the intersection of S 2nd and Avenue K and just blocks from US Hwy 87 and US 380. Tahoka, TX is the county seat for Lynn County USDA office. The Tenant has occupied the office building for over 20 years. During the recent lease negotiations, the building was renovated for Tenant including: new ada bathrooms, countertops, flooring, granite checkin desk, paint and removal of some walls. All improvements were done to USDA specs and requirements. The roof is also less than 5 years old.

Please do not disturb Tenant. Contact listing agent for more information and to schedule a private tour.

Attachments & Media

Current Tenants

Tenant Business Name United States Dept of Agriculture
Is Renting? Yes
Lease Expiration 9/0030

Additional Details

Nearest MSA: Lubbock
County: Lynn
Taxing Authority: Lynn County CAD
Tax ID/APN: 12618
Property Visibility: Excellent
Highway Access: US 87 and US 380
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 5,526 SF
Year Renovated: 2021
Roof Type: Gambrel
Construction/Siding: Brick
Parking Type: Surface
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 1-4 34 OT TAHOKA

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,661 2,661 2,661
Median Age: 37.48 37.48 37.48
Households: 1,012 1,012 1,012

Contact

Photograph of Listing Agent

Jeremy Steen

McDougal, REALTORS
West Texas CIE Member
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