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Social Security Administration
1051 Worthington Woods Boulevard, Worthington, OH 43085
11,838 SF | Office
Office Property - Off Market
- Building Size:
- 11,838 SF
- Property Type:
- Property Sub-type:
- Institutional/ Governmental
- Property Use Type:
- Cap Rate:
- Building Class:
- Year Built:
- Lot Size:
- 1.37 AC
- Listing ID
- Last Updated
- over 1 year ago
Marcus & Millichap is pleased to announce for sale an 11,838 square foot single tenant office building that is 100 percent leased to the U.S. Social Security Administration. The offering price is $2,790,500, which represents a 8.10% CAP Rate. The building was built for the U.S. Government. In November 2007, a ten year lease was initiated. This property could also be purchased as part of a two to five property U.S. government leased single-tenant portfolio with long-term leases in place.
This property gives an investor stabilized cash flow with the support of a very stable tenant, the U.S. Government. In addition, a three percent management fee was included in the underwriting of this investment opportunity. The property is well located in an active office/retail corridor and has convenient freeway access. There are no termination clauses in this lease. This property will be delivered free and clear of any existing financing.
This asset is located in Worthington, Ohio. Worthington is located in the center of the state at Ohio' s crossroads the intersection of U.S. State Route 23 and State Route 161 and affords easy access to all parts of the Ohio and the nation. A suburb of Columbus, the state capital, Worthington offers all of the attractions and conveniences of a big city combined with the charm of small town living.
Worthington was one of the Midwest' s first planned communities, blending commerce, residential life, education and faith. Founded in 1803, Worthington reflects its dignified New England heritage with authentic brick sidewalks leading to the central Village Green where many of the city' s original commercial buildings and churches still stand proudly. Today, as in ages past, people come to meet and greet on the Village Green and stroll the streets of downtown Worthington.
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P