6930 S STATE STREET ST, Midvale, UT 84047

  • $2,750,000
  • $2,750,000
6930 S STATE STREET ST, Midvale, UT 84047
For Sale

6930 S STATE STREET ST, Midvale, UT 84047

6930 S STATE STREET ST, Midvale, UT 84047
  • $2,750,000
  • $2,750,000

Overview

Property ID: HZ64607
  • Commercial Sale
  • Property Type
  • 1979
  • Year Built

Description

Great opportunity awaits with this fully leased, NNN investment building/restaurant. Situated on a generous 0.77-acre plot in the highly sought-after Murray/Midvale area, this prime location is conveniently located just off the I-15 and I-215 exits. With only a 5-minute drive to Fashion Place Mall and various local business/retail plazas, the property offers excellent accessibility and visibility. Generating a solid NOI of $115,000 as of 5/1/23, this investment guarantees attractive returns. The current lease is in effect until the end of 2028, providing a secure tenancy with a 10-year lease term. The cap rate stands at an impressive 4.2%, and the rent enjoys a 1.5% increase every two years, ensuring a steady income growth over time. Building is fully remodeled in 2018, this restaurant is gorgeous inside and out. It even has an abundance of parking. Leased by OMBU Grill, a brunch-focused restaurant that is AMAZING. DO NOT DISTURB TENANT- CONTACT LISTING AGENT FOR DETAILS AND ACCESS. While the provided square footage figures are estimated, the buyer is encouraged to obtain an independent measurement for accuracy. Don’t miss out on this fabulous investment! Act now to secure your stake in this thriving restaurant and enjoy the benefits of a leased property in a prime location.

  • Address 6930 S STATE STREET ST
  • City Midvale
  • State/county UT
  • Zip/Postal Code 84047
  • Country United States

Details

Updated on October 29, 2023 at 11:54 am
  • Property ID: HZ64607
  • Price: $2,750,000
  • Land Area: 0.77 Acres
  • Year Built: 1979
  • Property Type: Commercial Sale
  • Property Status: For Sale
  • MLS#: 1876689
  • Office Name: EQUITY REAL ESTATE (SOLID)
  • Agent Name: Pei Huang
  • MLS Status: Active

Additional details

  • Tax Annual: 17463
  • County: Salt Lake
  • Property SubType: Retail

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