GSA Leased Office Building

Office for Sale
Catylist Listing ID: 30208320
Property Subtypes: Governmental
Building Size (RSF): 7,544 SF
Sale Price: $1,487,000
Unit Price: $197.11 PSF
Ceiling: 9 ft.
Property Use Type: Investment
Building Name: Vansant Field Office
Class of Space: Class A
Usable Size (USF): 7,544 SF
Sale Terms: Cash to Seller
Cap Rate: 9.5%
Average Occupancy Rate: 100
Last Updated: 8/20/2018

Overview / Comments

Long term single tenant leased property. First time offered for sale. 7 year remaining lease term. 2 years remaining on original lease and GSA signed early renewal for an additional 5 years beginning December 2019. GSA has right to early termination during renewal term.

Additional Details

Nearest MSA: Kingsport-Bristol-Bristol
County: Buchanan
Taxing Authority: Buchanan County
Tax ID/APN: 2HH119083B
Zoning: NONE
Property Located Between: Richlands and Grundy
Property Visibility: Excellent
Highway Access: 4-lane Divided.
Airports: TRI is 40 minute drive
Site Description: Level and mostly paved.
Area Description: Rural mountainous area with high barriers to entry.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 7,544 SF
Year Built: 2004
Roof Type: Gable
Construction/Siding: Brick
Exterior Description: Modern attractive brick office building.
Parking Ratio: 5 (per 1000 SF)
Parking Type: Surface
Parking Description: 1 portion of the lot is open to the public, the other portion is secured and gated for employees.
Total Parking Spaces: 41
Heat Type: Electricity, Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: T1/T3
Interior Description: Good quality government standard.
Zoning Description: None
Water Service: Municipal
Sewer Type: Municipal, Storm
Easements: Utilities
Easements Description: Typical perimeter

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 2,643 5,433
Median Age: 40.72 43.28
Households: 764 1,973

Contact

The information presented herein is provided as is, without warranty of any kind. Neither Northeast Tennessee Association of REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.