Log In/Sign Up
Your email has been sent.
GSA Leased Investment SSA Selma 120 Executive Park Ln 13,421 SF Office Building Selma, AL 36701 $3,384,000 ($252.14/SF) 7.26% Cap Rate
Investment Highlights
- 7.26% cap rate on 2026 projected net income
- $87,474 annual renovation reimbursement paid to landlord through May 2029
- Operating expense reimbursement and CPI formula increases
- Term through 11/11/2033 / Firm term through 11/11/2028 / Rent escalation last 5 years of term
- Single story brick built 2003, renovated 2018, new roof
- Increases of property taxes over a base year reimbursement
Executive Summary
The single tenant leased office investment is a build to suit for the Social Security Administration serving as a field office. The 13,421 square foot single story brick building was constructed in 2003 with substantial renovation in 2018. The renovation work was comprised of HVAC upgrades, new offices and front interview areas and CAT 6 cable upgrades. A new roof was installed in 2024. The renovation costs plus interest are repaid to the landlord amortized over the lease term at $87,474 per year through May 2029. In addition to rent, the landlord is paid for operating expenses with an annual CPI formula increase and increases of property taxes over a base year.
The lease term is through November 11, 2033 with firm term through November 11, 2028, after which the lease may be terminated early. A third party study reported only 2.82% of GSA leases are terminated early, and one reason is a lack of expansion space. The 2.2 acre site can accommodate expansion.
The lease term is through November 11, 2033 with firm term through November 11, 2028, after which the lease may be terminated early. A third party study reported only 2.82% of GSA leases are terminated early, and one reason is a lack of expansion space. The 2.2 acre site can accommodate expansion.
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Office
Building Size
13,421 SF
Building Class
B
Year Built/Renovated
2003/2018
Price
$3,384,000
Price Per SF
$252.14
Cap Rate
7.26%
NOI
$245,807
Tenancy
Single
Building Height
1 Story
Typical Floor Size
13,421 SF
Building FAR
0.13
Lot Size
2.33 AC
Zoning
OI - Office
Parking
83 Spaces (6.18 Spaces per 1,000 SF Leased)
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Public Administration
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
The Social Security Administration began as the Social Security Board in 1935 under the Social Security Act and later adopted its current name in 1946. The agency administers Social Security retirement, disability, and survivors benefits, and it also supports Medicare-related services, identity records, and other public-facing programs through online and in-person channels. Social Security remains a major federal service provider, with a nationwide role that reaches Americans across life stages from first-number issuance to benefit delivery and account management.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Public Administration | - | $9.99 | Lorem Ipsum | Jan 0000 |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 11-08-27-1-002-003.0012 | Improvements Assessment | $205,800 |
| Land Assessment | $22,800 | Total Assessment | $228,600 |
Property Taxes
Parcel Number
11-08-27-1-002-003.0012
Land Assessment
$22,800
Improvements Assessment
$205,800
Total Assessment
$228,600
1 of 4
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Contact the Sale Advisor
GSA Leased Investment SSA Selma | 120 Executive Park Ln