Current Use by Public Records
- Retail properties & Spaces
Property Details for 4292 13400
- Year built
- 2023
- Lot size
- 0.72 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Banks
Description
This exceptional investment opportunity presents a newly constructed, 4,040 square foot US Bank branch located in the thriving Mountain View Village in Riverton, Utah. The property boasts a 10-year absolute NNN ground lease with a credit-rated tenant, ensuring minimal landlord responsibilities. The building, completed in 2023, features a drive-thru and benefits from high visibility on 13400 South Street, a major thoroughfare with significant daily traffic volume. Situated within a rapidly expanding mixed-use development encompassing 85 acres and part of a larger 600-acre master plan, this location offers exceptional access and exposure. The property's strong demographics, with a high average household income within a 5-mile radius, and the ongoing development of the surrounding area, including a future Trax Line transit extension, contribute to its long-term investment potential. The 0.72-acre lot provides ample space, and the property's strong NOI of $175,000 and 5.20% cap rate make it an attractive investment. The lease includes 10% rent increases with each option period, further enhancing the return on investment. This single-tenant, Class A retail property offers a secure and stable investment opportunity in a high-growth market. The property is zoned for commercial use and has a parcel number of 273-145-200-600-00. The asking price is $3,365,000.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Riverton
- County
- Salt Lake
- State
- Utah
- Longitude
- -111.996
- Latitude
- 40.5081
