Map of Property

SSA Selma, Alabama

For Sale

150 Executive Park Lane, Selma, AL 36701

This Selma property for sale is located at 150 Executive Park Lane. The general use of SSA Selma, Alabama is office and it incorporates 13,421 square feet of class B office space. The current listed sale price for SSA Selma, Alabama is $3,296,500. SSA Selma, Alabama is situated on a lot that is 2.28 acre in size.

Contacts

broker

Matthew Levin, CCIM

SVN | Interstate Brokers

Property Details

  • Property Type Office - General Office
  • Property Size 13,421 SF
  • Lot Size 2.28 Acre
  • Additional Rent Contact for pricing
  • Building Class B
  • Year Built 2003
  • Year Renovated 2018
  • Date Updated Oct 30, 2024
Selma, Alabama with a population of 17,600, is the Dallas County seat with a population of 37,600 and is located in central Alabama, 50 miles east of Montgomery and 80 miles south of Birmingham.The single tenant leased office investment is a build to suit for the Social Security Administration serving as a field office. The 13,421 square foot single story brick building was constructed in 2003 with substantial renovation in 2018. The renovation costs plus interest are repaid to the landlord amortized over the lease term at $87,474 per year through May 2029. In addition to rent, the landlord is paid for operating expenses with an annual CPI formula increase and increases of property taxes over a base year. The lease term is through November 11, 2033 with firm term through November 11, 2028, after which the lease may be terminated early. A third party study reported only 2.82% of GSA leases are terminated early, and one reason is a lack of expansion space. The 2.28 acre site is expandable.

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Highlights

  • Single tenant office leased to Social Security Administration
  • 8% cap rate on projected 2023 NOI
  • Leased through November 11, 2033
  • Firm term through November 11, 2028
  • 2003 construction / 2018 renovation
  • Tenant improvement allowance reimbursed to landlord

Attachments

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Location

  • City Selma, AL
  • Zip Code 36701

Points of Interest

  • Marathon

    0.52 miles

  • Texaco

    0.65 miles

  • Cougar Mini Shop

    1.87 miles

  • Murphy USA

    2.51 miles

  • Captain's Corner Gas Station

    2.92 miles

  • Petro Gas Station

    7.11 miles

  • Chevron

    7.17 miles

  • Selma City Marina Parking

    2.10 miles

  • American Inn of Selma

    0.62 miles

  • Hospitality Inn

    1.03 miles

  • Luxury Inn and Suites

    2.00 miles

  • St. James Hotel

    2.62 miles

  • Craig Motel

    3.68 miles

  • Winn-Dixie

    2.01 miles

  • Selma Mall

    2.34 miles

  • Walmart Supercenter

    2.56 miles

  • Dave's Market

    5.07 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Matthew Levin, CCIM

SVN | Interstate Brokers