806-820 Progress Dr, Farmington, MO for sale

806-820 Progress Dr, Farmington, MO 63640

Accepting Offers
806-820 Progress Dr, Farmington, MO for sale806-820 Progress Dr, Farmington, MO for sale806-820 Progress Dr, Farmington, MO for sale806-820 Progress Dr, Farmington, MO for sale
Asking Price

$1,600,000

806-820 Progress Dr, Farmington, MO for sale

806-820 Progress Dr, Farmington, MO 63640

Asset Type: Real Estate

Estate: Fee Simple

Land Area: 2.85 Acres

Number of Units: 4

Property Type: Office

Year Built: 1999

Number of Floors: 1

Property Size: 9,410 SF

Investment 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

Offering Summary

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!

Sale FAQs

Investment Sales Broker

Chris Cole, JD, CCIM, ALC

Chris Cole, JD, CCIM, ALC

Lorimont Commercial Real Estate

Phone: XXXXXXXXXX

Email: XXXXXXXXXXXXXXXXXX

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