IRS/GSA Leased Value-Add Investment

$8,750,000

1122 Town & Country Commons Drive, Chesterfield, MO 63017

For Sale

Office Institutional Government

Active

Last Updated: 07/18/2024

Details:

Cap Rate: 5.4%

Pro Forma Cap Rate : 8.7%

NOI: $753,000

Building Size: 52,555 sqft

Lot Area: 6.9 acres

Occupancy: 50%

Class: B

Lease Type: Full Service

Price Per Sqft: $166

Year Built: 1995

Tenancy: Single

Floors: 2

Parking Spots: 284

Year Last Renovated: 2022

Gross Leaseable Area: 48,642

Parking Ratio: 5.4

Number of Elevators: 1

Roof: New Membrane (Flat)

HVAC: New Rooftop packaged units

Lease Expire Year: 6/3035 (IRS)

Investment Strategy: Value Add

Offered by Broker

Michael Johns

Principal

GSA Realty Advisors, Inc.

Request Info to Unlock

Highlights:

US Gov Credit
13 Yr. IRS Lease (10 Firm)
Value-Add Play
Proforma NOI $754K (Investor)
Proforma user can reduce occupancy cost significantly
Chesterfield STL Submarket

Description:

The building is 50% leased by the IRS, backed by the Government Services Administration. 13 year lease (10 firm) Commenced 2022. The IRS has been a tenant in the building for over 20 years and recently downsized to meet their mandated thresholds. The balance of the 2nd story space will be best suited for an Owner/User that will benefit from the IRS offset. $475K NOI on 1st floor space. Potential uses; Medical Office, Insurance Co, Real Estate Office, IT Office, Construction Related, Etc.

Come join the IRS in Chesterfield, MO one of the best STL submarkets to Live/Work.