SSA, Office of Disability 309 Monroe Ave 22,677 SF Office Building Memphis, TN 38103 $5,253,000 ($231.64/SF) 8.50% Cap Rate

The Ficke Team of Colliers has been selected to exclusively market for sale the Office of Hearings Operations (OHO) Field Office in downtown Memphis, Tennessee. This unique judicial courts building has seven (7) different administrative law judges (ALJ) that conduct Social Security Disability (SSD) hearings and Supplemental Security Income (SSI) hearings. This building includes Judges chambers, Administrative Law Judges writers’ offices, hearing rooms, and a library are some of the unique features in this specialized building that was built to meet the extensive design specifications of the General Services Administration (GSA). GSA recently extended a 10-year succeeding lease extension with the first 5-years firm and non-cancellable. The lease is backed by the full faith of the U.S. federal government, which maintains a Aaa credit rating through Moody’s.
Memphis is a city in the U.S. state of Tennessee. It is the seat of Shelby County, in the southwestern most part of the state, and is situated along the Mississippi River. With a population of 633,104 at the 2020 U.S. census, Memphis is the second-most populous city in Tennessee after Nashville. Memphis is the fifth-most populous city in the Southeast, the nation’s 28th-most populous overall, as well as the largest city bordering the Mississippi River and third largest metropolitan statistical area behind Greater St. Louis and the Twin Cities on the Mississippi River.
The city is home to a major professional sports team, the Grizzlies of the NBA and the Memphis Showboats of the USFL. Other attractions include Graceland, the Memphis Pyramid, Sun Studio, the Blues Hall of Fame and Stax Museum of American Soul Music. Memphis-style barbecue has achieved international prominence, and the city hosts the annual World Championship Barbecue Cooking Contest, which attracts more than 100,000 visitors each year. Higher-level educational institutions include the University of Memphis, Christian Brothers University and Rhodes College.