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.
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0BEDS
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0.77ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
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.
Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of 2023-11-28T21:39:43.887. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed accurate. Buyer to verify all information.