Description
This property is unique in that it can be divided into 2 units or can be one unit. The most recent use was a gift shop. A new roof was just put on the building last year. We also had some electrical, dry wall and refreshing work done on it. We are looking to lease it or sell it. It appraised for $170,000 prior to the roof and other repairs that were done to improve it. We are asking only $5.5 per sqft NNN as annual rent. That is only $838/month for the bigger unit (~1829 sqft) and another $596 for the smaller sized unit (~1300 sqft). That puts the Proforma CAP rate at ~ 11.5%. The price is far below appraisal and the asking rent is very agressively affordable.
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School Ratings & Info
Description
This property is unique in that it can be divided into 2 units or can be one unit. The most recent use was a gift shop. A new roof was just put on the building last year. We also had some electrical, dry wall and refreshing work done on it. We are looking to lease it or sell it. It appraised for $170,000 prior to the roof and other repairs that were done to improve it. We are asking only $5.5 per sqft NNN as annual rent. That is only $838/month for the bigger unit (~1829 sqft) and another $596 for the smaller sized unit (~1300 sqft). That puts the Proforma CAP rate at ~ 11.5%. The price is far below appraisal and the asking rent is very agressively affordable.
Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of 2021-02-27T18:36:56.203. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed accurate. Buyer to verify all information.