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Mission Critical State Government Leased Single Tenant Office Investment | 6.6% Cap Rate | Jackson, Mississippi

750 N State Street
Jackson, MS 39202
PRICE : $24,400,000
CAP RATE: 6.6%
PROPERTY TYPE: Office
BUILDING SIZE: 175,333 SF

Description

Opportunity to acquire a long term leased single tenant property with a high-credit, mission-critical tenant- Child Protection Services Headquarters

• 10 year lease term remaining with no termination rights
• 100% occupied single tenant
• High credit tenant - AA Standards & Poors rating
• Rent increase of $149,033 January 2024 (7.2% cap rate)
• Extensive renovations and capital improvements completed
• Future upside potential, current rent is only $11.83/SF
• Acquire below replacement costs at only $139/SF
• Favorable lease - Tenant pays utilities and janitorial directly
• Appraised for $25,100,000 in 2018


Call for offers deadline: June 10, 2021

Do not disturb tenant. Shown by appointment only.

Bull Realty Mississippi License Number: 19258

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