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Executive Summary

2603 Riverside Drive presents an investor with the opportunity to purchase a stable leased investment with a AAA grade tenant. The building was built for the Social Security Administration in 2004, and has been leased to them continuously since then. In 2019, the General Services Administration signed a brand new 15 year lease for the Premises, indicating their commitment to the property. A major remodel to the building was completed in April 2021, bringing the building up to date and in compliance with all GSA requirements. This investment opportunity offers a stable and attractive investment, where the investor has the advantage of both income and appreciation.
2603 Riverside is situated in a corridor of federal, county and city services.

Property Facts

Sale Type
Investment
Property Type
Office
Building Size
4,450 SF
Building Class
B
Year Built
2004
Tenancy
Single
Building Height
1 Story
Typical Floor Size
4,450 SF
Building FAR
0.15
Lot Size
0.66 AC
Opportunity Zone
Yes

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease Type
  • Lease End
  • Public Administration
  • 4,450 SF
  • $50.80
  • Full Service
  • Aug 2034

The Social Security Administration is a U.S. federal agency that began in 1935 as the Social Security Board under the Social Security Act and later adopted its current name in 1946. The agency administers retirement, disability, survivors, family, and Medicare-related services, and also supports Social Security number, card, and benefit-verification functions. SSA serves the public through online self-service tools such as my Social Security, a national toll-free number, and field-office support. The agency also runs work-support programs for disability beneficiaries, including Ticket to Work, which helps participants explore employment and maintain work-related supports.

Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Public Administration 4,450 SF $50.80 Full Service Aug 2034
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100

Property Taxes

Property Taxes

Parcel Number
105-350-066-000
Land Assessment
$145,000
Improvements Assessment
$1,002,000
Total Assessment
$1,147,000
  • Listing ID: 21425646

  • Date on Market: 11/5/2020

  • Last Updated:

  • Address: 2603 Riverside Dr, Susanville, CA 96130

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