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33773259
33773260

3210 Highway 15 North, Laurel, MS 39440

ML
GA 19351
Crye-Leike Commercial
SVN | AVAT Realty, LLC
Listed by Crye-Leike Commercial, SVN | AVAT Realty, LLC
$2,079,000
8 days on market
Updated 5 days ago

Social Security Administration

Details
Property Type Office
Sub Type Traditional Office
Square Footage 8,876
Net Rentable (SqFt) 8,876
Occupancy 100%
Tenancy Single
Brand/Tenant Social Security Administration
Lease Type Modified
Lease Term 5
Lease Expiration 01/20/2031
Remaining Term 4.6
Rent Bumps Yes
Lease Options None
Pro-Forma Cap Rate 8.13%
Pro-Forma NOI $169,099
Price per SqFt $234
Year Built 2011
Buildings 1
Stories 1
Acreage 1.300
Zoning Commercial
Investment Type Stabilized
Lease Commencement 01/21/2026
Ownership Fee Simple

GSA Leased SSA Office Investment | 8.13% CAP | 8,876 SqFt

Marketing description

This single tenant leased office investment is a build-to-suit for the Social Security Administration serving as a field office. The 8,876 square foot single story brick building was constructed in 2011. The roof was replaced in 2019. The property is leased to the General Services Administration (GSA), guaranteed by the United States Government. The lease was recently extended from January 21, 2026 to January 20, 2031 of "firm term". In addition to base rent, the tenant pays operating costs plus property tax reimbursement above a 2012 base-year of $20,051. The operating costs increase annually based on a CPI formula. The 1.3 acre site provides ample surface parking and excellent highway visibility on US Highway 15 North.

Laurel is the county seat of Jones County, Mississippi, located along Interstate 59 in the southeastern portion of the state. The Laurel Metropolitan Statistical Area serves a trade area population exceeding 85,000 across Jones and Jasper counties. The local economy is anchored by Howard Industries, Wayne-Sanderson Farms, Masonite International, and South Central Regional Medical Center. Jones County GDP reached $3.6 billion in 2024. The city has experienced significant downtown revitalization, gaining national attention through HGTV's Home Town series. The Social Security Administration field office at this location serves Jones County and the surrounding counties of southeastern Mississippi, providing mission-critical federal services to the region and supporting the long-term stability of the tenancy.

Investment highlights

  • 8.13% cap rate on projected 2026 income
  • Leased extended through January 20, 2031 - firm term
  • 8,876 SF - 2011 build-to-suit construction for SSA - new roof 2019
  • Operating cost increases based on a CPI formula
  • Property tax reimbursement above 2012 base-year
  • 2011 construction 2019 new roof

Listing Contacts

ML
GA 19351
Crye-Leike Commercial
SVN | AVAT Realty, LLC
Listed by Crye-Leike Commercial, SVN | AVAT Realty, LLC

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Zoning

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C-2 CommercialGeneral CommercialGeneral Commercial District
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Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics

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