11309 Old Highway 49 Gulfport, MS 39503
Single-tenant office building leased to the Internal Revenue Service.
Property size:
10,905 SFLot size:
2.60 AcresProperty Features for 11309 Old Highway 49
General Information
- Size
- 10,905 SF
- Lot size
- 2.60 Acres
Source:
Moodyscre
Listing Agent: Matthew Levin
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Gulfport Office Building For Sale
This single-tenant office investment is a build-to-suit property leased to the Internal Revenue Service (IRS), serving as a Taxpayer Assistance Center (TAC). The 10,905 square foot single-story brick office building was constructed in 2007. A $458,000 renovation was completed in 2023, resulting in an extended ten-year lease term from December 4, 2021, to December 3, 2031. The renovation costs, plus interest, are repaid to the landlord, amortized over the lease term, totaling $483,000 with interest added. In addition to rent, the landlord receives payment for operating expenses with an annual formula increase and increases in property taxes over a base year. Of the ten-year lease term, eight years are firm, and the last two years allow for early lease termination, though such terminations are reportedly rare. The 2.6-acre site in Gulfport may be expanded.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Internal Revenue Service ...
Government Office
Location Insight
- Map
- Local Demand
- City
- Gulfport
- County
- Harrison
- State
- Mississippi
- Longitude
- -89.1042533
- Latitude
- 30.4497948
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Single-tenant office building leased to the Internal Revenue Service.
Where is this office building located?
The property is located at 11309 Old Highway 49 Gulfport, MS.
What is the asking price?
The asking price for this property is $2,584,000.
What are key features of this property?
This property features: - Long-term lease with the Internal Revenue Service (IRS) until December 3, 2031, providing stable income.; - Recent $458,000 renovation completed in 2023, costs repaid over the lease term.; - Tenant pays operating expenses, with annual formula increases and property tax increases.