1089 Stark RdStarkville, MS 39759

Property Details for 1089 Stark Rd

Year built

2008

Property size (Sq ft)

6,998 SF

Property type

Office properties

Property subtype

Office buildings

APN

21121

APU

21121

Description

This exceptional investment opportunity presents a fee-simple ownership of a single-story, 6,998-square-foot office building situated on a 1.17-acre lot in Starkville, Mississippi. Built in 2008, the property is currently 100% occupied by the Social Security Administration (SSA), a tenant with an S&P AA+ investment-grade credit rating. The lease is a gross lease with a current annual net operating income (NOI) of $128,337, representing an attractive 8.50% capitalization rate based on the asking price of $1,509,851 ($215.75 per square foot). The SSA's lease includes a 2018 renewal extending through 2028, with a five-year option for rental increase to $172,926.88. This strategically located property benefits from its proximity to major retail establishments including Kroger, Lowe's, Walmart, and numerous other national brands. Its convenient location near the MS-12/MS-25 interchange (experiencing over 25,000 combined vehicles daily), and 1.5 miles from George M Bryan Public Use Airport, further enhances its appeal. The property's location within a growing office and residential development corridor, coupled with Starkville's thriving community (including Mississippi State University with over 25,000 students and staff), makes this a compelling investment prospect. The daytime population within a 5-mile radius exceeds 57,700. The nearest SSA location is a 30-minute drive away in Columbus, MS. This build-to-suit property offers a stable, high-quality income stream with significant long-term potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,173,033

  6.5%

  $1,082,800

  7%

  $1,005,457

• Comparable approach

  Method

  Valuation

  Relative Method

  $509,383

  Geo Method

  $1,365,030

• Alternative Use

  Use

  Valuation

  Residential

  $1,342,672

  Hospitality

  $1,229,880

  Educational

  $1,023,246

  Medical

  $1,058,437

  Retail

  $1,591,716

Location Insight

City

Starkville

County

Oktibbeha

State

Mississippi

Latitude

33.4552

Longitude

-88.846

CBSA code

44260

CBSA name

STARKVILLE, MS MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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