Mine Safety & Health Administration | 1664 Pond Fork Rd
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Mine Safety & Health Administration 1664 Pond Fork Rd
9,407 SF Office Building Madison, WV 25130 $1,922,494 CAD ($204 CAD/SF) 8% Cap Rate
Investment Highlights
- New 10 Year (8 Firm) Lease Renewal Commenced in June 2022
- $60,000 Recently Invested for New Roof Coating, New HVAC Units, New PVC Gutter Drains, All LED Lighting and an Electronic Door Lock, and More
- 2022 Restroom Renovations, Roof Repairs & Replaced an HVAC Unit
- GSA Lease (U.S. Government credit, AA+ S&P) – Mine Safety and Health Administration (MSHA)
- GSA Invested Over $163,000 in Tenant Improvements For Paint and Carpet Upgrades in 2022
- Seller Financing Available at 5% Interest Rate for Part of the Purchase
Executive Summary
We are pleased to offer for sale this single-tenant government leased office building located at 1664 Pond Fork Road, Madison
(Boone County), West Virginia. The property consists of a 9,407 square foot office building that was developed in 1990 as a buildto-suit for the Mine Safety and Health Administration (MSHA). In 2012, the GSA made significant improvements that included 20
new phone lines, 28 new data lines, and connections to a new data patch panel. Shatter resistant window protection was added,
and a new secure gate opener with new entry and egress key pad. New carpet tiles and new ceiling grids and tiles were installed
throughout the facility . The front office was dry-walled and the entire facility was painted, including exterior and interior doors.
ADA approved doorknobs were also installed on all doors within the facility. There is a new 10 year lease renewal including 8 years
of firm term that commenced in June 2022, and GSA invested over $163,000 in tenant improvements again in 2021 for new paint
and carpeting. There were also restroom updates made including eight new high efficiency toilets. Starting in August 2023 to May
2024 there was an additional $60,000 invested to replace the rain gutter drains with schedule 40 PVC, new roof coating installed,
new HVAC units, LED lighting added and a new electronically locked back door.
The U.S. Department of Labor’s Mine Safety and Health Administration (MSHA) works to prevent death, illness, and injury from
mining and promote safe and healthful workplaces for U.S. miners. MSHA carries out the provisions of the Federal Mine Safety
and Health Act of 1977 (Mine Act) as amended by the Mine Improvement and New Emergency Response (MINER) Act of 2006. The
Agency develops and enforces safety and health rules for all U.S. mines.
(Boone County), West Virginia. The property consists of a 9,407 square foot office building that was developed in 1990 as a buildto-suit for the Mine Safety and Health Administration (MSHA). In 2012, the GSA made significant improvements that included 20
new phone lines, 28 new data lines, and connections to a new data patch panel. Shatter resistant window protection was added,
and a new secure gate opener with new entry and egress key pad. New carpet tiles and new ceiling grids and tiles were installed
throughout the facility . The front office was dry-walled and the entire facility was painted, including exterior and interior doors.
ADA approved doorknobs were also installed on all doors within the facility. There is a new 10 year lease renewal including 8 years
of firm term that commenced in June 2022, and GSA invested over $163,000 in tenant improvements again in 2021 for new paint
and carpeting. There were also restroom updates made including eight new high efficiency toilets. Starting in August 2023 to May
2024 there was an additional $60,000 invested to replace the rain gutter drains with schedule 40 PVC, new roof coating installed,
new HVAC units, LED lighting added and a new electronically locked back door.
The U.S. Department of Labor’s Mine Safety and Health Administration (MSHA) works to prevent death, illness, and injury from
mining and promote safe and healthful workplaces for U.S. miners. MSHA carries out the provisions of the Federal Mine Safety
and Health Act of 1977 (Mine Act) as amended by the Mine Improvement and New Emergency Response (MINER) Act of 2006. The
Agency develops and enforces safety and health rules for all U.S. mines.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
9,407 SF
Building Class
C
Year Built/Renovated
1981/2012
Price
$1,922,494 CAD
Price Per SF
$204 CAD
Cap Rate
8%
NOI
$153,800 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
9,407 SF
Building FAR
0.02
Lot Size
13.98 AC
Zoning
Commercial
Parking
28 Spaces (2.98 Spaces per 1,000 SF Leased)
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PROPERTY TAXES
| Parcel Number | 01-3-00530006 | Improvements Assessment | $299,648 CAD |
| Land Assessment | $26,834 CAD | Total Assessment | $326,482 CAD |
PROPERTY TAXES
Parcel Number
01-3-00530006
Land Assessment
$26,834 CAD
Improvements Assessment
$299,648 CAD
Total Assessment
$326,482 CAD
Contacts
-
Francis McGuire -
Justin Fenn, SIOR -
Dan Yozwiak -
Sam Elyassaki -
Peter Sibicky -
Marcus & Millichap
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Mine Safety & Health Administration | 1664 Pond Fork Rd
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