3450 Highland Dr Salt Lake City, UT 84106-3358

Property Details for 3450 Highland Dr

Year built

1984

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.89 lot acres

Property size

32,798 SF

Zone code

RM

Property type

Investment properties

Property subtype

Retail residential properties

APN

16-33-105-027

APU

1633105027

Description

This exceptional 32,898 square foot Class B executive office building presents a unique investment opportunity in Millcreek, Utah. Located at 3450 S Highland Dr, 84106, this vacant property sits on a sizable 1.87-acre lot and offers significant potential for owner-occupancy or continued lease income. The building underwent renovations in 2019, ensuring modern amenities and functionality. The asking price is $5,800,000, translating to $176.30 per square foot. Ample parking is provided with a ratio of 3.56 stalls per 1,000 square feet. A key advantage is the existing Verizon cell tower lease on the property, generating an annual net income of $24,969.60, with a 2% annual increase built into the agreement. The property is zoned R-M, offering flexibility for future development. A right of first refusal (ROFR) clause is in place, providing a 30-day window for consideration of any potential sale. This property is currently 100% vacant, presenting a blank canvas for a new owner to customize and maximize its potential. This is a rare opportunity to acquire a substantial office building in a desirable Salt Lake County location.

Location Insight

City

Salt Lake City

County

Salt Lake

State

Utah

Longitude

-111.85

Latitude

40.6962

CBSA code

41620

CBSA name

SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments