Dedicated Tenant– Tenant has committed to paying over $286k in Tenant Improvements that will be paid back in a lump sum to the current owners after the completion date.
Underserved Market–This is the only SSA building in Montgomery County, with the next closest Social Security office being 44.3 miles away in Alton, IL.
Valuable Asset– Highest cap rated Social Security building on market currently.
Potential Value Add –Opportunity to cut costs as the operating ratio is over 46%, well above market standards
Notes – Please note that the tenant has a FIrm lease date expiration ending on June 30th, 2027, which means that the tenant has the ability to terminate the lease with a 120 day notice after this expiration date.
Notes –Tenant pays for all taxes over the Base Year, which was established in 2023, as it’s the first full calendar year.