Leased Retail Ground Lease
1005 Fort Union Blvd Midvale, UT 84047
1005 Fort Union Blvd, Midvale, UT, 84047
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For Sale
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Retail investment with 3 years remaining on the lease, tenant-paid operating expenses, and a ground lease extending 50+ years.
Days on Market103
Property Features for 1005 Fort Union Blvd
General Information
- Standard status
- Active
- Property subtype
- Retail
Listing agency
Align Real Estate
(801) 580-4945
Listed by
Jonah Hornsby · License #UT 6409658SA00
Source
Crexi
Added: Apr 11 Updated: Jul 22 at 12:58AM Checked: Jul 22 at 12:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Align Real Estate
Investment Insights
Based on property information with market context.
This leased retail property at 1005 Fort Union Blvd in Midvale, UT is being offered as a stabilized investment. The space is described as very clean and well-maintained, with the tenant responsible for all operating expenses except the ground lease payment. The current lease term has 3 years remaining, along with a 5-year option to renew, and the lease includes 3% annual increases.
The property is on a ground lease with approximately 50+ years remaining and a fixed lease rate. Financial information provided with the offering includes gross income of $44,823, ground lease expense of $8,400, and NOI of $36,423, for a stated 6.5% cap rate. Please do not disturb tenants.
As structured, this is a leased retail setup designed around an expense pass-through to the tenant, with ground lease payments remaining the primary expense for the owner.
The property is on a ground lease with approximately 50+ years remaining and a fixed lease rate. Financial information provided with the offering includes gross income of $44,823, ground lease expense of $8,400, and NOI of $36,423, for a stated 6.5% cap rate. Please do not disturb tenants.
As structured, this is a leased retail setup designed around an expense pass-through to the tenant, with ground lease payments remaining the primary expense for the owner.
Key Highlights
- Leased retail investment with 3 years remaining on the lease and a 5‑year option to renew
- Tenant pays all operating expenses except the ground lease payment
- Gross income $44,823; ground lease expense $8,400; NOI $36,423
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Retail investment with 3 years remaining on the lease, tenant-paid operating expenses, and a ground lease extending 50+ years.
Where is this retail space located?
The property is located at 1005 Fort Union Blvd Midvale, UT.
What are key features of this property?
This property features: Leased retail investment with 3 years remaining on the lease and a 5‑year option to renew; Tenant pays all operating expenses except the ground lease payment; Gross income $44,823; ground lease expense $8,400; NOI $36,423
