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Single-Tenant Office

Cortland U.S. Fish & Wildlife Service (USFWS)

3815 Luker Rd, Cortland, NY 13045

Listing Price: $1,551,000

Cap Rate
9.50%
Gross SF
13,176
Rentable SF
13,176
Price/Gross SF
$117.71
Lot Size
1.83 acres
Year Built
1993

Investment Overview

Marcus & Millichap is pleased to bring to market the Cortland U.S. Fish & Wildlife Service Office, a single-tenant government office building fully occupied by the U.S. Fish & Wildlife Service. The 13,176 rentable square foot, stone facade building was built-to-suit for the U.S. Fish & Wildlife Service in 1993, according to their strict requirements, and sits on 1.83 Acres. Fish & Wildlife has occupied the building continuously since its construction. The Property is currently encumbered by a 5-year lease extension (2 years firm), with 4.5 years remaining (1.5 firm). The lease extension creates an opportunity for an investor to add value by executing a full lease renewal at the end of the 5-year term, while at the same time cash flowing at an above-market rate. The U.S. Fish & Wildlife Service (USFWS) an agency of the United States federal government that is tasked with the conservation, protection, and enhancement of fish, wildlife, and plants, as well as their habitats across the United States.

Investment Highlights

  • New 5-Year Lease Renewal Recently Executed by Fish & Wildlife
  • Built-to-Suit for Fish & Wildlife's Specific Needs
  • Mission-Critical Location-Tenant Responsible for Marine Life Disease Prevention
  • Nearest Fish & Wildlife location is over 147 Miles from the Property
  • AA+ Credit Tenant (Moody's, S&P)

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (718) 475-4300

    License(s) NY: 10311204479

    New York

Financing By

Single-Tenant Office

Cortland U.S. Fish & Wildlife Service (USFWS)

Listing Price: $1,551,000

Cap Rate
9.50%
Gross SF
13,176
Rentable SF
13,176
Price/Gross SF
$117.71
Lot Size
1.83 acres
Year Built
1993

Investment Highlights

  • New 5-Year Lease Renewal Recently Executed by Fish & Wildlife
  • Built-to-Suit for Fish & Wildlife's Specific Needs
  • Mission-Critical Location-Tenant Responsible for Marine Life Disease Prevention
  • Nearest Fish & Wildlife location is over 147 Miles from the Property
  • AA+ Credit Tenant (Moody's, S&P)

Investment Overview

Marcus & Millichap is pleased to bring to market the Cortland U.S. Fish & Wildlife Service Office, a single-tenant government office building fully occupied by the U.S. Fish & Wildlife Service. The 13,176 rentable square foot, stone facade building was built-to-suit for the U.S. Fish & Wildlife Service in 1993, according to their strict requirements, and sits on 1.83 Acres. Fish & Wildlife has occupied the building continuously since its construction. The Property is currently encumbered by a 5-year lease extension (2 years firm), with 4.5 years remaining (1.5 firm). The lease extension creates an opportunity for an investor to add value by executing a full lease renewal at the end of the 5-year term, while at the same time cash flowing at an above-market rate. The U.S. Fish & Wildlife Service (USFWS) an agency of the United States federal government that is tasked with the conservation, protection, and enhancement of fish, wildlife, and plants, as well as their habitats across the United States.

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (718) 475-4300

    License(s): NY: 10311204479

    New York

Financing By

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