Leased Retail Ground Lease
For Sale
Contact for pricing
1005 Fort Union Blvd, Midvale, UT 84047
Retail investment with 3 years remaining on the lease, tenant-paid operating expenses, and a ground lease extending 50+ years.
Property SizeContact for details
Days on Market143
Property Features for 1005 Fort Union Blvd
General Information
Standard status
Active
Property subtype
Retail
Additional Details
Cap Rate
6.5%
Listing Agency:
Align Real Estate
(801) 580-4945
Listed By:
Jonah Hornsby · License #UT 6409658SA00
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last 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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,411
Businesses Nearby
422k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Shops & Services 19%
Apparel 17%
Groceries 14%
In-N-Out Burger
Dining
58,882 visits/mo
0.3 miles
Trader Joe's
Groceries
57,287 visits/mo
0.4 miles
The Home Depot
Home Improvements & Furnishings
38,819 visits/mo
0.5 miles
T.J. Maxx
Apparel
35,691 visits/mo
0.4 miles
Sierra
Apparel
26,411 visits/mo
0.5 miles
Demographics for 84047, UT
37,146
Population
17,221
Households
2.2
Avg Household Size
33
Median Age
34%
College-Educated
92%
High-School Grad
6.4 sq mi
ZIP Area
5,804
Density / Sq Mi
$73,120
Median Household Income
$43,845
Median Earnings
$1,482
Median Rent
$404,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
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
