Current Use by Public Records
- Retail properties & Spaces
Property Details for 284 Orchard Dr
- Year built
- 2024
- Property type
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a brand-new, 2024-built Starbucks located at 284 S Orchard Dr, North Salt Lake, UT 84054. The property boasts a substantial 2,050 square feet situated on a generous 42,760 square foot lot within a Planned District (P) zoning. This single-tenant, Class A retail space operates under a 10-year NNN lease with Starbucks, a highly-rated investment-grade tenant (S&P BBB+). The asking price is $3,048,000, translating to a compelling $1,486.83 per square foot and a 5.25% capitalization rate, yielding a net operating income (NOI) of $160,000. The property benefits from excellent freeway access and is strategically positioned in a high-demand trade area with limited competition. Furthermore, its proximity to over 1,000 high-end apartments ensures a consistent flow of customers. This turnkey investment offers a secure and lucrative return for discerning investors seeking a strong, established tenant in a prime location. The property's size, location, and tenant quality make it an ideal addition to any portfolio. This is a rare opportunity to acquire a high-performing asset with significant long-term growth potential.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- North Salt Lake
- County
- Davis
- State
- Utah
- Longitude
- -111.913
- Latitude
- 40.8366
