308 Airport Rd - Office FOR SALE


Jackson, MS 39208
$2,250,000 USD
949-419-3276
308 Airport Rd, Jackson, MS for Sale
$2,250,000 USD
Office - FOR SALE
1/8
null | 8.06% Cap Rate

308 Airport Rd
Jackson, MS 39208


HIGHLIGHTS

  • Single Credit Tenant - United States Government Lease – Department of Interior - USGS, AAA (Moody’s) Credit Rating
  • Build-to-Suit Facility in 1995 for the Department of Interior – U.S. Geological Survey
  • Renewed 2nd Generation 15 Year Lease with 10 Years Firm with an Effective Date of July 1, 2022
  • Going-In Capitalization Rate of 8.06% with a Pro-Forma Capitalization Rate of 8.38% in Years 6-13

OVERVIEW

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 8.06% and an attractive pro-forma capitalization rate of 8.38%.

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$112 USD /SF

CAP RATE

8.06%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

United States Geological Survey

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1995

SPRINKLERS

-

PARKING SPACES

112

LAND DETAILS

LAND ACRES

2.26 AC

LAND SF

98,446 SF

ZONING

Commercial

APN/PARCEL ID

G08M-000016-00010

ASK ABOUT THIS PROPERTY

Alex MobinMarcus & MillichapMore Info
949-419-3276

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Alex MobinMarcus & MillichapMore Info
949-419-3276

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.