Raptor Heights
Mixed Use | 42,287 SqFt
Marketing description
Mixed use 0.91 acre lot, including all plans and engineering- permit ready.
The plans have 18 residential condominiums and 5 commercial/retail suites.
Commercial space has potential for annual NOI of $192,028.00+ (including 5% vacancy) if leased.
Residential sell off projected to be $4,050,560.00
Recently completed Appraisal for the twin building (Jurassic Heights) completed as it finalizes financing. Reach out for more details.
Vernal city is bringing a lot of attention to their downtown area, with community focused centers in their near future plans (outdoor music venue, ice skating rink and more). This project was approved with the city intention of adding downtown living and working options central to these future plans.
Uintah Basin Railway has recently received Supreme Court approval. Uintah Basin Energy Summit of 2024 estimates Vernal population growing to 70,000 in 5 years after Basin Railway is completed, with 2500 head of household jobs created during construction. Estimated oil revenue for the Vernal area to be around $1 Billion dollars with $100 million in State tax revenue.
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