2213 8th St S
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2213 8th St S
6,966 SF 100% Leased Office Building Wisconsin Rapids, WI 54494 $1,663,000 ($239/SF) 8% Cap Rate
Investment Highlights
- U.S. Government credit (AA+ S&P credit rating)
- Build-to-Suit in 2003
- Refreshed Parking Lot and Exterior LEDs in 2023
- High-Quality and Well-Maintained Concrete Block Building
- New 10-Year Lease with 5-years Firm Term
- Long-Term Tenant that Continues to Renew
Executive Summary
The Ficke Team of Colliers was engaged to exclusively market for sale the Social Security Administration (SSA) located at 2213 8th Street S, Wisconsin Rapids, Wisconsin. This single-tenant facility was built-to-suit for the GSA/SSA in 2003 and consists of 6,966 rentable square feet. The site includes about 0.17 acres and is a busy facility serving all of Adams, Juneau, Portage, and Wood counties, with the nearest SSA office over 30 miles away in Wausau, WI. The property has a new 10-year lease, with a 5-year firm term that commenced on March 3, 2024. This building is of concrete block construction and is well-maintained to the government’s strict standards.
This building has a separate tax parcel and metered utilities from the retail space, and deeded access to the parking lot. Ownership refreshed the parking lot and upgraded the exterior lighting to LED in 2023. This SSA provides investors with an opportunity to acquire stabilized cash flow from the U.S. Government, which maintains a long-term tenancy in this location.
Wisconsin Rapids, the county seat of Wood County, is a consolidation of the two early towns of Grand Rapids and Centralia: the former lying on the east side of the Wisconsin River, the latter on the west. Wisconsin Rapids offers Midwestern charm and atmosphere while providing access to modern infrastructure and technology, abundant educational and cultural opportunities, a mix of retail establishments and restaurants, and a stable business environment. Wood County is the 22nd most populous county in Wisconsin, with 74,200 residents.
This building has a separate tax parcel and metered utilities from the retail space, and deeded access to the parking lot. Ownership refreshed the parking lot and upgraded the exterior lighting to LED in 2023. This SSA provides investors with an opportunity to acquire stabilized cash flow from the U.S. Government, which maintains a long-term tenancy in this location.
Wisconsin Rapids, the county seat of Wood County, is a consolidation of the two early towns of Grand Rapids and Centralia: the former lying on the east side of the Wisconsin River, the latter on the west. Wisconsin Rapids offers Midwestern charm and atmosphere while providing access to modern infrastructure and technology, abundant educational and cultural opportunities, a mix of retail establishments and restaurants, and a stable business environment. Wood County is the 22nd most populous county in Wisconsin, with 74,200 residents.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
6,966 SF
Building Class
C
Year Built
2003
Price
$1,663,000
Price Per SF
$239
Cap Rate
8%
NOI
$133,040
Percent Leased
100%
Building Height
1 Story
Typical Floor Size
6,966 SF
Building FAR
0.11
Land Acres
1.49 AC
Parking
6 Spaces (0.86 Spaces per 1,000 SF Leased)
1 of 1
Walk Score ®
Very Walkable (73)
PROPERTY TAXES
Parcel Number | 34-12202 | Improvements Assessment | $232,300 |
Land Assessment | $313,600 | Total Assessment | $545,900 |
PROPERTY TAXES
Parcel Number
34-12202
Land Assessment
$313,600
Improvements Assessment
$232,300
Total Assessment
$545,900
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2213 8th St S
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