806-820 Progress Drive, Farmington, MO 63640
sale
$1,800,000
|
Other
Courtesy Of Lorimont Commercial Real Estate
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 7,237 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 pond, a vacant 800 SF shop (806 Progress Dr.) with garage door and restroom (accessible via easement from Captain D's), and 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!
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Property Features
- Age: 21-30 Years Old
- Amenities: Pond
- Architecture Style: Other
- Cooling System: Multi Units
- Cooling System: Central Air
- Cooling System: Wall Unit(s)
- Exterior Type: Metal Siding
- Exterior Type: Brick
- Heating System: Forced Air
- MLSID: 26019817
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