Rail-Served Industrial – 1031 Exchange 1477 K Ave 90,000 SF Industrial Building Tooele, UT 84074 $5,500,000 ($61.11/SF)

** 1031 EXCHANGE ELIGIBLE – IN-PLACE GOVERNMENT OCCUPANCY **
Building 679 offers in-place U.S. Army occupancy through the lease term ending September 2026, with the government covering property insurance and upkeep for the duration. In exchange for $0 cash rent during that period, whoever owns the building at lease-end collects a turnover payment of approximately $200,000 — a buyer who closes before the Army vacates captures that payment personally, adding real near-term cash to the deal. It's a qualifying like-kind replacement property with a documented, near-term path to vacant possession — built for a 1031 buyer working against an identification or closing deadline.
Located in the Peterson Industrial Depot (the former Tooele Army Depot), 30 minutes from Salt Lake City with direct I-80 access, alongside Carvana, Copart, LKQ, Cabela's/Bass Pro Shops, Detroit Diesel, Central States Manufacturing, and other national industrial operators. Active dual rail spur on-site. M-1 light industrial zoning, no depot association. Updated dry fire suppression system. Seller financing available.
Pro forma cap rate once leased: approximately 7-8.9% at the $5.5M asking price, based on an estimated $0.40–$0.50/SF/month NNN market rent. This is a projected figure, not current income — current cash rent is $0 under the Army lease — and prospective buyers should independently underwrite their own lease-up assumptions.
An adjacent building (677) under the same Army lease structure — with the newest roof in the portfolio — is available alongside this one for $10.5M combined. The full four-building, 360,000 SF portfolio is also available at $19.5M. Inquire for details.