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505 N Ridgeview Dr 19,392 SF Office Building Warrensburg, MO 64093 $1,550,000 ($79.93/SF) 9.50% Cap Rate
INVESTMENT HIGHLIGHTS
- 100% occupied by the State of Missouri
- Leased to the State of Missouri since 1994
- $147,297 in place NOI
- High cap rate opportunity 9.50%
- 0.4% office vacancy in Warrensburg
EXECUTIVE SUMMARY
Newmark Zimmer, as an exclusive advisor, is pleased to present the opportunity to acquire a 19,392-square-foot, single-tenant building located at 505 N Ridgeview Dr, Warrensburg, MO 64093 (“The Property”). The Property is 100% leased to the State of Missouri, which has occupied the building for 30 years. Strategically located in Warrensburg, the office provides important state services to residents of Warrensburg and the surrounding community. Services operating include the Warrensburg Driving Test Center, Missouri Child Support, Probation & Parole Office, and Johnson County Family Support.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
19,392 SF
Building Class
B
Year Built
1994
Price
$1,550,000
Price Per SF
$79.93
Cap Rate
9.50%
NOI
$147,297
Tenancy
Single
Building Height
1 Story
Typical Floor Size
19,392 SF
Building FAR
0.09
Lot Size
4.75 AC
Parking
112 Spaces (5.78 Spaces per 1,000 SF Leased)
1 1
PROPERTY TAXES
| Parcel Number | 11401900000005102 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $268,133 |
PROPERTY TAXES
Parcel Number
11401900000005102
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$268,133
CONTACTS
-
Michael VanBuskirk SIOR, CCIM,CRE -
Christopher Robertson, CCIM -
Raegen Kersey -
Newmark Zimmer
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505 N Ridgeview Dr
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