Listed by Newmark Mountain West
$1,050,000
1476 Major Street
Details
Property Type Retail, Office
Sub Type Bar, Traditional Office
Square Footage 3,500
Net Rentable (SqFt) 3,500
NOI $33,897
Occupancy 100%
Tenancy Single
Lease Type NN
Lease Term 5
Lease Expiration 04/01/2029
Remaining Term 2.8
Rent Bumps Yes
Lease Options Two (2) five (5)
Year Built 1959
Buildings 1
Acreage 0.160
Zoning MU-5
Investment Type Value Add
Tenant Credit No Credit Rating
Lease Commencement 04/01/2024
Ground Lease No
Fantastic Owner/User or Investment opportunity
Marketing description
Freestanding office building downtown SLC
Secured yard with electric gate to the rear
Currently built out as office
Easy freeway access to I-15, I-80 and SR-201
Investment highlights
Building is currently leased, LED 3/30/2029 with two (2) five (5) options to extend, tenant is paying $3,329 per month NN with 2% annual increases. Landlord pays taxes.
Listing Contacts
Listed by Newmark Mountain West
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$33,897.00
$2,824.75/mo
Valuation Metrics
0
DSCR
3.23%
Cap Rate
3.23%
ROI
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