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- LoopNet Team
1850 W 4100 S
Salt Lake City, UT 84119
Jiffy Lube - Absolute NNN · Retail Property For Sale

Property Facts
- Auto Repair
- General Retail Freestanding
Amenities
- Bus Line
- Signage
About 1850 W 4100 S , SALT LAKE CITY, UT 84119
Situated as part of a shopping center scheduled for a major redevelopment in the later half of 2017, Jiffy Lube is an absolute NNN single tenant investment with approximately 7 years remaining with no options remaining, presenting a unique upside opportunity. At the end of the fixed term in 2023, the owner will have the opportunity to renegotiate a new lease with Jiffy Lube, leading to a strong upside opportunity, especially when considering the forthcoming redevelopment of the entire shopping center. Finally, the lease includes a percentage rent clause of 5% of gross revenues above Annual Rent. It is also important to note that there is a Lessor Right of Termination, providing an Owner with the power to terminate the existing lease in the instance that a better tenant / offer is presented. The lease is signed and backed by a ~10 unit operator of Jiffy Lube stores - inquire for more details on financials. Jiffy Lube is a national automotive repair chain comprised of over 2,200 locations. The property is based in West Valley City, which is part of the Salt Lake City MSA.
Property Taxes
| Parcel Number | 15-34-377-028-0000 | Improvements Assessment | $700,200 |
| Land Assessment | $316,400 | Total Assessment | $1,016,600 |
Property Taxes
Listing ID: 6491142
Date on Market: 3/28/2017
Last Updated:
Address: 1850 W 4100 S, Salt Lake City, UT 84119
The Retail Property at 1850 W 4100 S, Salt Lake City, UT 84119 is no longer being advertised on LoopNet.com. Contact the broker for information on availability.
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