See property flyer attached for marketing flyer. Single-tenant investment. Incredible location. Priced below replacement cost. 7 years left on 10-year lease with 2, 5-year options. NNN lease - Landlord only responsibilities are roof, asphalt, and HVAC repair/replacement. New AC unit in 2019. Tenant pays taxes, insurance, CAMS, utilities, maintenance of HVAC, etc. Highly sought-after location and an easy property to re-let in the future, at rates that will be well above current rental rates. Rent from Sept 1, 2022 to Aug 31st, 2023 is $9,107 / mo NNN. Thereafter adjusts to $7,878mo/ NNN. Initial 4 years of lease included carryback from from landlord to tenant that burns off end of 4th year.
- Price:
- $2,425,000
- Acreage:
- 1.15
- Year Built:
- 2005
- Listing ID #:
- 1826401
- Street Address:
- 668 S 500 E
- City:
- American Fork
- State:
- Utah
- Postal Code:
- 84003
- County:
- Utah
- Community:
- Am Fork- Hlnd- Lehi- Saratog.
- Subdivision:
- Holmstead Center
- Listing Status:
- Active
- Listing Type:
- Commercial Sale
- Building Condition:
- Blt./Standing
- Construction Status:
- Blt./Standing
- Year Built:
- 2005
- Existing Land Use:
- Retail
- Lot Square Footage:
- 50094
- Days On Market:
- 335
- On Market Date:
- 2022-06-27
- Originating Mls:
- Utahrealestate.Com
- Property Taxes:
- $13,181
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.
Your Payment
$1,400/mo
Source: CINC
- Listing Provided By Kevin Ford (801-473-6519) with Core Utah Real Estate.
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