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Social Security Administration (SSA) 2350 4th Ave 9,260 SF Office Building Rock Island, IL 61201 $1,286,000 ($138.88/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
The Ficke Team of Colliers has been retained to exclusively market for sale the Social Security Administration (SSA) located at 2350 4th Ave., Rock Island, IL 61021.
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.
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
Sale Type
Investment
Property Type
Office
Building Size
9,260 SF
Building Class
B
Year Built
2001
Price
$1,286,000
Price Per SF
$138.88
Cap Rate
8%
NOI
$102,884
Tenancy
Single
Building Height
1 Story
Typical Floor Size
9,260 SF
Building FAR
0.45
Lot Size
0.47 AC
Zoning
RI
Parking
36 Spaces (3.89 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 (SSA) is an independent U.S. federal agency headquartered in the Woodlawn area of Baltimore, Maryland. Created in 1935 as part of the New Deal, it administers the nation’s primary social insurance programs, including retirement, survivors, and disability benefits under the Social Security Act, as well as Supplemental Security Income for qualifying aged, blind, and disabled individuals. From its central office complex, SSA oversees national policy, program administration, budget management, and regulatory compliance while coordinating with a nationwide network of field offices, teleservice centers, and processing centers. The headquarters does not typically process individual claims, as local offices handle most public services. SSA operates one of the largest federal programs supporting financial security for millions of Americans.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Public Administration | - | $9.99 | Lorem Ipsum | Jan 0000 |
1 1
Bike Score®
Very Bikeable (74)
Property Taxes
| Parcel Number | 07-35-225-003 | Improvements Assessment | $424,851 |
| Land Assessment | $29,397 | Total Assessment | $454,248 |
Property Taxes
Parcel Number
07-35-225-003
Land Assessment
$29,397
Improvements Assessment
$424,851
Total Assessment
$454,248
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Social Security Administration (SSA) | 2350 4th Ave
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