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Rich Castleberry

rcastleberry1@gmail.com +1(801) 906-3657

$ 500,000

Est. payment | -/mo

0.28 Acres Lot

Save

$ 500,000

Est. payment | -/mo

Save

0.28 Acres Lot

Key Details

Property Type Commercial

Sub Type Office

Listing Status Active

Purchase Type For Sale

MLS Listing ID 2140812

Construction Status Blt./Standing

HOA Y/N No

Year Built 1971

Annual Tax Amount $3,058

Lot Size 0.280 Acres

Acres 0.28

Lot Dimensions 0.0x0.0x0.0

Property Sub-Type Office

Property Description

A fantastic investment opportunity! The tenant is a daycare with a lease for the next 3 years. Rent is currently at $3,400 but increasing to $3,600 in 2027 and $3,800 in 2028! That means at the list price the CAP rate will reach 8.5% within 2 years! The tenant is stable, has made significant investments into the property and expects to stay for many years. The owner only pays property tax with the tenant covering all other expenses, bills, and repairs. The solid brick building has been remodeled for the daycare business to use both suites. But could be divided again in the future. There is plenty of parking available for the tenant and customers. Also, there is a 4 car garage on the property that has been converted to individual storage bays.

Location

State UT

County Salt Lake

Area Magna; Taylrsvl; Wvc; Slc

Zoning Commercial

Interior

Fireplace No

Exterior

View Y/N No

Present Use Office

Handicap Access Ground Level

Private Pool No

Building

Faces South

New Construction No

Construction Status Blt./Standing

Others

Senior Community No

Tax ID 15-29-480-018

Acceptable Financing Conventional

Listing Terms Conventional

Listed by Utah First Realty

Nearby Locations

GET MORE INFORMATION

Rich Castleberry

REALTOR® | Lic# 9500608

rcastleberry1@gmail.com

+1(801) 906-3657

1148 W Legacy Crossing Blvd Suite 330 Centerville Ut. 84014

3280 W 3500 S #S3, S4 West Valley City, UT 84119

Rich Castleberry

Key Details

Location

Interior

Exterior

Building

Others

3280 W 3500 S #S3,S4