IRS/GSA Leased Value-Add Investment
1122 Town & Country Commons Drive, Chesterfield, MO
For Sale
Office
Institutional Government
$8,750,000
Price
5.4%
Cap Rate
8.7%
Pro Forma Cap Rate
Overview
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
48642
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
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.
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