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$ 1,600,000
Est. payment /mo
Active
806-820 Progress DR Farmington, MO 63640
2.53 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision Farmington Executive Park
MLS Listing ID 26019817
Year Built 1999
Annual Tax Amount $7,247
Lot Size 2.530 Acres
Acres 2.53
Property Description
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!
Location
State MO
County St. Francois
Interior
Heating Forced Air
Cooling Central Air, Wall Unit(s)
Fireplace N
Exterior
Fence Chain Link
View Y/N No
Building
Water Public
Structure Type Brick,Metal Siding
Others
Ownership Private
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
Listed by Chris Cole • Lorimont L.C.