13,387 INTERIOR SQFT · 44,521 SITE SQFT
Greenwood, MS is the County seat for Leflore County. The building was built in 1967 as the Federal Building and Post Office. The Post Office Occupies 13,387 sf expires 5/31/15 with 1/5 yr renewal option and the USDA is in 7,419 sf expires 3/31/15. Greenwood is about half way between Memphis, TN and Jackson, MS (the Capitol). There are some smaller tenants and the building as a whole is about half full. There is opportunity to increase the value by adding tenants. The building manager is on site and has been with the building for about 10 years.
Current Gross income is $233,971, expenses are $135,068, net income is $110,800. Energy costs will be significantly lower and HVAC maintenance will be reduced 50% switched to Upchurch from Tranesking. Asking price is $1,250,000, 8.86% cap rate. The owner has upgraded the smaller chiller to run more efficiently for the current occupancy and has a larger newer chiller as back up. Interested parties may contact me directly at 901-620-3627, firstname.lastname@example.org and I can provide you with a detailed offering memorandum.
Moved In: 1967
Options: One at 5 years