435 Fayette Ave S, Salt Lake City, UT 84101

Introducing the GRANARY MULTIFAMILY DEVELOPMENT LAND located at 435 W FAYETTE AVE in Salt Lake City. This prime .71-acre site is proposed for a 100-unit, 6-story building in the sought-after MU11 zoning district.

The property presents an incredible opportunity with a 5-year lease term, with termination rights in place, and an NOI of $102,000. This gives you a chance to cover your holding costs while you finalize your next development.

Strategically situated in the vibrant Granary District, this development parcel is surrounded by the bustling downtown area and neighboring residential communities, enhancing its allure for potential tenants and investors. With an attractive list price of $3,200,000, this multifamily land presents a lucrative opportunity to capitalize on Salt Lake City's growing real estate market. At only $32,000 per door for land, this could be your next LIHTC or market-rate development.

Don't miss out on this exceptional chance to shape the landscape of this vibrant neighborhood with the GRANARY MULTIFAMILY DEVELOPMENT LAND. Contact ALIGN COMPLETE REAL ESTATE SERVICES today to explore the possibilities this property offers.

Owners are licensed real estate agents in the state of Utah.