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590 N Main St 8,500 SF Industrial Building Leeds, UT 84746 $2,450,000 ($288.24/SF) 6.86% Cap Rate
INVESTMENT HIGHLIGHTS
- ±7,876 SF purpose-built food production facility
- Designed for artisan baking, food manufacturing, or commissary kitchen
- Long term lease with Savory Foods
- 0.57-acre parcel with excellent street frontage and accessibility
- Well-maintained and operational, with infrastructure suited for production-scale output
- Gross rental income increase of 33.10% over the lease term
EXECUTIVE SUMMARY
RARE OPPORTUNITY TO PURCHASE THIS INVESTMENT
This is a rare opportunity to purchase this fully leased bakery that is its
own piece of culinary legacy in the Southern Utah Area. It was established
in 2021 by industry veterans with ties to Michelin-starred kitchens and top
Las Vegas restaurants. Bonrue is not just a typical tenant but a culinary
legacy. Since opening in 2021 they now have three locations that are very
successful in Washington County. This stable tenant provides the investor
the luxury of enjoying the secure cash-flow from the project but not taking
on the upfront risk of leasing and development.
STRONG TENANCY
This property is 100% occupied with a ten (10) year lease. Originally
launched as “Farmstead” and later rebranded as Bonrue Bakery with three
location in Southern Utah. The facility is a restaurant commissary providing
all the baked goods that are delivered to the Bonrue Bakeries.
This is a rare opportunity to purchase this fully leased bakery that is its
own piece of culinary legacy in the Southern Utah Area. It was established
in 2021 by industry veterans with ties to Michelin-starred kitchens and top
Las Vegas restaurants. Bonrue is not just a typical tenant but a culinary
legacy. Since opening in 2021 they now have three locations that are very
successful in Washington County. This stable tenant provides the investor
the luxury of enjoying the secure cash-flow from the project but not taking
on the upfront risk of leasing and development.
STRONG TENANCY
This property is 100% occupied with a ten (10) year lease. Originally
launched as “Farmstead” and later rebranded as Bonrue Bakery with three
location in Southern Utah. The facility is a restaurant commissary providing
all the baked goods that are delivered to the Bonrue Bakeries.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $2,450,000 | Lot Size | 0.57 AC |
| Price Per SF | $288.24 | Rentable Building Area | 8,500 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 6.86% | Year Built | 1999 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Manufacturing | No. Dock-High Doors/Loading | 1 |
| Building Class | C | No. Drive In / Grade-Level Doors | 2 |
| Zoning | C - Commercial | ||
| Price | $2,450,000 |
| Price Per SF | $288.24 |
| Sale Type | Investment |
| Cap Rate | 6.86% |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | C |
| Lot Size | 0.57 AC |
| Rentable Building Area | 8,500 SF |
| No. Stories | 1 |
| Year Built | 1999 |
| Tenancy | Single |
| No. Dock-High Doors/Loading | 1 |
| No. Drive In / Grade-Level Doors | 2 |
| Zoning | C - Commercial |
UTILITIES
- Water - City
1 1
PROPERTY TAXES
| Parcel Number | 0621840 | Improvements Assessment | $203,500 |
| Land Assessment | $62,100 | Total Assessment | $265,600 |
PROPERTY TAXES
Parcel Number
0621840
Land Assessment
$62,100
Improvements Assessment
$203,500
Total Assessment
$265,600
CONTACTS
-
Troy Scheel -
Douglas Scheel -
Kelly Shiotani -
Scott Sprunt -
Newmark Mountain West
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590 N Main St
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