Garden Square 25 E Fort Union Blvd 75,496 SF 100% Leased Retail Building Midvale, UT 84047 For Sale
INVESTMENT HIGHLIGHTS
- Value-Add Opportunity
- Executive Office Suite: The property features an 8,341 sf end-cap executive office suite concept that is performing remarkably well
- Occupancy & WALT: 89% occupied with 3.06 years of WALT
- Location: The property is situated on the hard corner of State Street and Fort Union Boulevard, a highly trafficked intersection
EXECUTIVE SUMMARY
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Garden Square (the “Property”) – a 75,496-sf unanchored retail strip center located in Midvale, Utah.
Midvale, true to its name, is centrally located in Salt Lake County and serves as a suburb of Salt Lake City. This prime location offers convenient access to major population centers, world-class skiing, and stunning natural scenery.
The Property is currently 89% occupied, with two prime suites totaling 8,153 sf currently vacant, offering an immediate value-add opportunity for the next investor. Additionally, multiple tenants are paying below-market lease rates. The property features 3.06 years of WALT, ensuring steady cash flow while allowing for strategic rent increases over time as leases expire.
This is the premier retail investment opportunity for investors with a long-term investment horizon and conviction in the Salt Lake retail market.
Midvale, true to its name, is centrally located in Salt Lake County and serves as a suburb of Salt Lake City. This prime location offers convenient access to major population centers, world-class skiing, and stunning natural scenery.
The Property is currently 89% occupied, with two prime suites totaling 8,153 sf currently vacant, offering an immediate value-add opportunity for the next investor. Additionally, multiple tenants are paying below-market lease rates. The property features 3.06 years of WALT, ensuring steady cash flow while allowing for strategic rent increases over time as leases expire.
This is the premier retail investment opportunity for investors with a long-term investment horizon and conviction in the Salt Lake retail market.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
75,496 SF
Building Class
C
Year Built
1976
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.42
Lot Size
4.10 AC
Zoning
State Street Zone (SSC) - State Street Zone (SSC) Zoning
Parking
220 Spaces (2.91 Spaces per 1,000 SF Leased)
AMENITIES
- Restaurant
- Wheelchair Accessible
- Monument Signage
Walk Score®
Very Walkable (71)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 22-30-107-038-0000 | Improvements Assessment | $0 |
| Land Assessment | $596,600 | Total Assessment | $596,600 |
