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623 E Fort Union Blvd 1,688 - 7,128 SF Office Condo Units Offered at $391,617 - $1,655,889 Per Unit in Midvale, UT 84047
INVESTMENT HIGHLIGHTS
- Well-located NNN office condo investment available in Ft Union area
- Rent has substantial upside when the lease rolls
- 1,688 - 7,128 SF available for sale
- Proximate to Top Regionally Trafficked Locations
- NNN lease with management already in place
EXECUTIVE SUMMARY
- Well-located office condo investment available in Ft Union area - 1,688 - 7,128 SF available - Located on Ft Union Blvd near 700 E - Convenient mid-valley location near both I-15 and I-215 - Proximate to Top Regionally Trafficked Locations - Below market rents - 100% leased to salon studio tenant - NNN lease
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Total Building Size | 18,504 SF | Typical Floor Size | 9,252 SF |
| Property Type | Office | Year Built | 2007 |
| Property Subtype | Medical | Lot Size | 1.53 AC |
| Building Class | B | Parking Ratio | 3.03/1,000 SF |
| Floors | 2 | ||
| Zoning | MU | ||
| Total Building Size | 18,504 SF |
| Property Type | Office |
| Property Subtype | Medical |
| Building Class | B |
| Floors | 2 |
| Typical Floor Size | 9,252 SF |
| Year Built | 2007 |
| Lot Size | 1.53 AC |
| Parking Ratio | 3.03/1,000 SF |
| Zoning | MU |
2 UNITS AVAILABLE
Unit B3-B4
| Unit Size | 1,688 SF | Sale Type | Investment |
| Price | $391,617 | Cap Rate | 6.51% |
| Price Per SF | $232.00 | NOI | $25,488.80 |
| Condo Use | Office | No. Parking Spaces | 5 |
| Unit Size | 1,688 SF |
| Price | $391,617 |
| Price Per SF | $232.00 |
| Condo Use | Office |
| Sale Type | Investment |
| Cap Rate | 6.51% |
| NOI | $25,488.80 |
| No. Parking Spaces | 5 |
DESCRIPTION
This 1,688 - 7,128 SF office condo investment presents a rare opportunity to acquire a fully leased commercial office condo with substantial upside in the thriving Midvale, Utah market. With a longstanding and reliable tenant in place, the property generates stable income while offering significant upside potential through both appreciation and rent growth, as the current lease rate is below market.
SALE NOTES
NNN lease with management in place.
Cap rate is on existing income, which is below market.
Condos can be taken in increments of 1,688 SF - 7,128 SF.
Unit B3-4,13-16
| Unit Size | 7,128 SF | Cap Rate | 6.50% |
| Price | $1,655,889 | NOI | $107,632.80 |
| Price Per SF | $232.31 | No. Parking Spaces | 21 |
| Condo Use | Office | APN/Parcel ID | 22302320280000 |
| Sale Type | Investment |
| Unit Size | 7,128 SF |
| Price | $1,655,889 |
| Price Per SF | $232.31 |
| Condo Use | Office |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| NOI | $107,632.80 |
| No. Parking Spaces | 21 |
| APN/Parcel ID | 22302320280000 |
DESCRIPTION
This 1,688 - 7,128 SF office condo investment presents a rare opportunity to acquire a fully leased commercial office condo with substantial upside in the thriving Midvale, Utah market. With a longstanding and reliable tenant in place, the property generates stable income while offering significant upside potential through both appreciation and rent growth, as the current lease rate is below market.
SALE NOTES
NNN lease with management in place.
Cap rate is on existing income, which is below market.
Condos can be taken in increments of 1,688 SF - 7,128 SF.
Presented by
623 E Fort Union Blvd
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