United States Geological Survey | 308 Airport Rd
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United States Geological Survey 308 Airport Rd
20,094 SF Office Building Jackson, MS 39208 $2,350,000 ($117/SF) 7.72% Cap Rate
Investment Highlights
- Single Credit Tenant - United States Government Lease – Department of Interior - USGS, AAA (Moody’s) Credit Rating
- Renewed 2nd Generation 15 Year Lease with 10 Years Firm with an Effective Date of July 1, 2022
- Build-to-Suit Facility in 1995 for the Department of Interior – U.S. Geological Survey
- Going-In Capitalization Rate of 7.72% with a Pro-Forma Capitalization Rate of 8.02% in Years 6-13
Executive Summary
Marcus & Millichap is pleased to offer for sale this single-tenant government office building occupied by the U.S. Department of the Interior – U.S. Geological Survey (USGS) located at 308 Airport Rd. S, Pearl, MS. The property consists of a 20,094-square foot office building which was constructed in 1995 and renovated in 2024 as a build-to-suit for the USGS. The USGS signed a renewal for a 2nd generation 15-year lease with 10 years firm effective July, 2022.
The Pearl, MS USGS underwent a $180K renovation in 2024, including renovated bathrooms, light fixtures, and interior painting. The parking lot was re-surfaced and striped also.
This offering is ideal for an investor who is seeking a single credit tenant building occupied by the United States Government with low management, a going-in capitalization rate of 7.72% and an attractive pro-forma capitalization rate of 8.02%.
The Pearl, MS USGS underwent a $180K renovation in 2024, including renovated bathrooms, light fixtures, and interior painting. The parking lot was re-surfaced and striped also.
This offering is ideal for an investor who is seeking a single credit tenant building occupied by the United States Government with low management, a going-in capitalization rate of 7.72% and an attractive pro-forma capitalization rate of 8.02%.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Office
Building Size
20,094 SF
Building Class
B
Year Built/Renovated
1995/2024
Price
$2,350,000
Price Per SF
$117
Cap Rate
7.72%
NOI
$181,397
Tenancy
Single
Building Height
1 Story
Typical Floor Size
20,904 SF
Building FAR
0.20
Land Acres
2.26 AC
Zoning
Commercial
Parking
112 Spaces (5.36 Spaces per 1,000 SF Leased)
Amenities
- Signage
1 of 1
PROPERTY TAXES
| Parcel Number | G08M-000016-00010 | Improvements Assessment | $0 (2023) |
| Land Assessment | $0 (2023) | Total Assessment | $231,573 (2023) |
PROPERTY TAXES
Parcel Number
G08M-000016-00010
Land Assessment
$0 (2023)
Improvements Assessment
$0 (2023)
Total Assessment
$231,573 (2023)
-
Alex Mobin -
Marcus & Millichap
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United States Geological Survey | 308 Airport Rd
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