806-820 Progress Dr
$1,600,000
806-820 Progress Dr, Farmington, MO 63640
9,410 sqft
Building Size
2.85 acres
Lot Area
Details:
Highlights:
- Rare government lease investment opportunity
- Four buildings on 2.53 acres
- Remodeled 7,238 SF office building
- Three outbuildings
- Large off-street, recently resurfaced parking lot
- Priced at $1,600,000
Description:
Rare government lease investment opportunity located in Farmington, MO! This four-building property is currently leased to USDA/Farm Services Agency through 2034 (guaranteed with higher rent income 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 renovated with new roof, new parking lot, two new A/C units, new doors, new ductwork, new flooring, and self-sustained climate-controlled server room -- all in accordance with the latest USDA/FSA and GSA technology, security, energy, and aesthetic requirements for federal lease properties. The rear building (820 Progress Dr.) is 2,127 SF with a shop, office, loft storage, and overhead door, currently vacant. 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 16+ months has over $191,000+ net operating income (10.63% initial cap rate). Don't miss this great Core Plus investment opportunity!
Located just 1/4 mile from Highway 67, convenient to historic downtown Farmington, restaurants, c-stores, industrial businesses, and shops.
Documents:
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Location
Gallery
