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Views: 24 DOM: 118 Updated: 05.20.24 Posted: 02.15.24 Status: Active

Summary

Price $7,188,932
Built/Renov 1999/2023
Tenant Social Security Administration
Cap Rate 7.85%
Lease Type Modified Gross
Guarantor Corp Rated
Size/SF 22,848
Lease Start 11-01-1999
#Units 1,318
Price/SF $314.64
Expiration 04-30-2028
Tenant Type Government
NOI $564,331
R. Term 3.10
Ownership Fee Simple
Rent/SF $24.70
Increases 0.0%/0/yrs
Pop 5Mi 62,065
Lot/AC 2.42
Options 0/0yrs
AHHI 5Mi $70,196

Lease Highlights

  • Social Security Administration has been operating in this location since 1999
  • The tenant has 4+ years remaining on the current lease term
  • Corporate guarantee | Investment grade tenant

Location Description

Social Security Administration is strategically located on S Wilcox Drive, adjacent to Sheridan Square Office and Medical Complex. It is in the vicinity of the Kingsport YMCA and Aquatic Center, Marriott Hotel and Conference Center, and the Eastman Chemical Plant global headquarters, among other establishments. The 5-mile trade area is supported by a population of 62,065 residents with an...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Social Security Administration
  • Guarantor:Corp Rated
  • Company:U.S. Federal Government
  • # Units:1,318
  • Tenant S&P: AA+
  • Moody’s: Aaa
  • Stock:Private

About Tenant

The United States Social Security Administration (SSA) is an independent agency of the United States federal government that administers Social Security, a social insurance program consisting of...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 768 22,348 64,136
2023 Total Population : 779 22,172 63,880
2023 Employed Civilian Pop : 283 8,954 25,330
2023 Total Businesses : 118 1,151 2,436
2023 Average Household Income : $ 64,015 $ 72,726 $ 78,680
2023 Total Consumer Spending : $ 20 M $ 629 M $ 1909 M
2023 Median Age : 46 47 47
2023 Total Households : 350 9,885 27,830
2023 Pop Age 25+: Bachelor's Degree : 53 2,859 8,787
2023 Average Home Value : $ 147,668 $ 220,499 $ 241,391
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Southgate Drive Old Wilcox Dr 2022 6,451 0.08 mi
SR 126 New Wilcox Dr 2021 7,910 0.22 mi
South Wilcox Drive Lincoln St 2022 13,667 0.22 mi
S Wilcox Dr Sullivan Gardens Pkwy 2003 11,330 0.32 mi
S John B Dennis Hwy Enterprise Pl 2003 20,490 0.33 mi
South John B Dennis Highway S John B Dennis Hwy 2022 25,482 0.33 mi
Stewball Cir 2022 1,103 0.34 mi
Meadowview Pkwy S Wilcox Dr 2003 5,070 0.48 mi
South Eastman Road Happy Hill Rd 2022 462 0.49 mi
I- 181 2022 2,492 0.58 mi

Listing Broker

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