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808-810 Progress Dr
Farmington, MO 63640
Office Property For Sale
Executive Summary
Rare government lease investment opportunity located in Farmington, MO! This four-building property is currently leased to USDA/Farm Services Agency through 2034 (guaranteed through November 2027), with additional tenants to be added. USDA/FSA has occupied the property since 1999. The main 7,238 SF office building (812 Progress Dr.) has recently been remodeled with new furnace, two new A/C units, new doors, new ductwork, and new flooring. The rear building (820 Progress Dr.) is 2,127 SF with a shop, office, loft storage, and overhead door, currently leased to Missouri Department of Conservation. The property sits on 2.53 acres with a vacant 800 SF shop (806 Progress Dr.) with garage door and restroom, accessible via easement from Captain D's, as well as a new 400 SF utility shed with fenced parking bullpen that is shared between tenants. The next year and a half has over $191,000+ net operating income (10.63% initial cap rate). Don't miss this great Core Plus investment opportunity!
Property Facts
Sale Type
Investment
Property Type
Building Size
9,410 SF
Building Class
A
Year Built
1995
Price
$1,800,000
Price Per SF
$191.29
Cap Rate
10.63%
NOI
$191,402
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
7,238 SF
Slab To Slab
9’
Building FAR
0.09
Lot Size
2.53 AC
Zoning
OP-1
Parking
40 Spaces (4.25 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 14-10-02-00-000-0034.28 | Improvements Assessment | $77,270 |
| Land Assessment | $26,500 | Total Assessment | $103,770 |
Property Taxes
Parcel Number
14-10-02-00-000-0034.28
Land Assessment
$26,500
Improvements Assessment
$77,270
Total Assessment
$103,770
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