Chick Fil A / Les Schwab Ground Lease Pads
Retail | 4.38% CAP | 16,234 SqFt
Marketing description
OFFERING SUMMARY
Property Name: Chick Fil A / Les Schwab Ground Lease Pads
Location: 3817 & 3845 S Constitution Blvd. West Valley City, UT 84119 County: Salt Lake County
Parcel Numbers: 15-33-401-033-0000 & 15-33-401-034-0000
Price: $9,600,000
NOI: $420,000
Cap Rate: 4.38% (Blended)
Term: Brand New 15 and 20 Year Leases
Investment highlights
Mountain High Real Estate Advisors on behalf of Real Estate Investment Partners, LLC (Owner),
is pleased to present the Fairbourne Ground Lease Pads (the property), located at the southeast
corner 3800 South and Constitution Blvd., West Valley City, Salt Lake County, Utah.
The Fairbourne Ground Leases are located just off of the I-215 freeway in a very mature in-fi ll
part of the Salt Lake Valley in West Valley City (WVC), which is the 2nd most populous city in the
Salt Lake Valley (143,000 residents).
This area is the dominant retail hub for all of WVC, featuring the 750,000 SF Valley Fair Mall,
which is anchored by Costco, Megaplex Theatres, Ross Dress for Less and more, providing a
variety of shopping and dining options that are daily attractants to the nearby WVC residents.
• Lot 1 – This is the hard corner of the property fronting both Constitution Blvd and 3800 South.
This Lot consist of 1.41 acres of property and will be ground leased to Chick-fi l-A.
• Lot 2 – This Lot fronts on Constitution Blvd adjacent to the south of Lot 1 and consists of 1.45
acres of property. This lot is ground leased to Les Schwab Tire Center.
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