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Single-Tenant Office

Waxahachie Social Security Office

100 Dean Box Dr, Waxahachie, TX 75165

Listing Price: $1,685,000

Cap Rate
7.14%
Gross SF
10,851
Rentable SF
10,851
Price/Gross SF
$155.29
Lot Size
1.79 acres
Year Built
2006

Investment Overview

Marcus & Millichap is pleased to bring to market the Waxahachie Social Security Office, a single-tenant government office building fully occupied by the Social Security Administration. The 10,851 rentable square foot, brick facade building was built-to-suit for the Social Security in 2002, according to their strict requirements, and sits on 1.79 Acres. The Property is currently encumbered by a newly executed 15-year lease renewal (13 years firm) and features new carpets and interior paint. It is centrally located in Waxahachie, TX, a fast-growing suburb of Dallas. Despite the prime location, Social Security’s rent ($18/sf on average over the 15-year term) falls well below market, both for comparable GSA properties, as well as the local market. Upon expiration of Social Security’s lease term, an investor would have to opportunity to aggressively raise rents, or substitute in a different tenant at a higher rate. The Social Security Administration (SSA) is an agency of the United States federal government that administers Social Security, a social insurance program consisting of retirement, disability, and survivors’ benefits. The annual budget for fiscal year 2022 is $14.2 billion, the highest ever budget for the agency. The public-facing aspect of their mission ensures that they will have a perpetual need for leased space. This offering is ideal for an investor who is seeking to invest in a low-risk cash flowing asset with robust appreciation potential.

Investment Highlights

  • Newly Executed Fifteen Year Lease Renewal (Thirteen Years Firm)
  • Below-Market Rents: $18/Square Foot on Average Over the Lease Term
  • Built-To-Suit For the Social Security Administration
  • AA+ Credit Tenant (Moody's, S&P)

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s) TX: 9002994

    Texas

Financing By

Single-Tenant Office

Waxahachie Social Security Office

Listing Price: $1,685,000

Cap Rate
7.14%
Gross SF
10,851
Rentable SF
10,851
Price/Gross SF
$155.29
Lot Size
1.79 acres
Year Built
2006

Investment Highlights

  • Newly Executed Fifteen Year Lease Renewal (Thirteen Years Firm)
  • Below-Market Rents: $18/Square Foot on Average Over the Lease Term
  • Built-To-Suit For the Social Security Administration
  • AA+ Credit Tenant (Moody's, S&P)

Investment Overview

Marcus & Millichap is pleased to bring to market the Waxahachie Social Security Office, a single-tenant government office building fully occupied by the Social Security Administration. The 10,851 rentable square foot, brick facade building was built-to-suit for the Social Security in 2002, according to their strict requirements, and sits on 1.79 Acres. The Property is currently encumbered by a newly executed 15-year lease renewal (13 years firm) and features new carpets and interior paint. It is centrally located in Waxahachie, TX, a fast-growing suburb of Dallas. Despite the prime location, Social Security’s rent ($18/sf on average over the 15-year term) falls well below market, both for comparable GSA properties, as well as the local market. Upon expiration of Social Security’s lease term, an investor would have to opportunity to aggressively raise rents, or substitute in a different tenant at a higher rate. The Social Security Administration (SSA) is an agency of the United States federal government that administers Social Security, a social insurance program consisting of retirement, disability, and survivors’ benefits. The annual budget for fiscal year 2022 is $14.2 billion, the highest ever budget for the agency. The public-facing aspect of their mission ensures that they will have a perpetual need for leased space. This offering is ideal for an investor who is seeking to invest in a low-risk cash flowing asset with robust appreciation potential.

Exclusively Listed By

Broker of Record

  • Tim Speck

    Senior Vice President / Division Manager

    (972) 755-5200

    License(s): TX: 9002994

    Texas

Financing By

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