1375 Mtn Spgs Pkwy Springville, UT 84663
- Warehouses
- 242,000 SF
- 19.41 lot acres
Current Use by Public Records
- Warehouses
Property Details for 1375 Mtn Spgs Pkwy
- Year built
- 1985
- Lot size
- 19.41 lot acres
- Property size
- 242,000 SF
- Property type
- Warehouses
- Property subtype
- Retail properties
Description
This exceptional investment opportunity presents a 242,000 square foot warehouse located at 1375 N Mountain Spgs Pkwy, Springville, UT 84663. The property, built in 1985 and fully renovated in 2013, boasts a 6.75% cap rate and is currently 100% occupied under a triple-net (NNN) lease expiring January 30, 2029. The asking price is $27,964,444, translating to $115.56 per square foot. Situated on a 19.41-acre lot with permitted C-Commercial zoning, this two-story building features 12 dock-high doors and ceiling heights ranging from 21'9" to 24'6". The property benefits from its prime location immediately off Interstate 15, providing excellent visibility and convenient access. The tenant, a manufacturer of pet treats, has invested significantly in the facility, which meets OTC, Nutraceutical, and US food requirements. The facility is the sole supplier for PetIQ and includes a generator/backup power system and power monitor/control system. Furthermore, over six acres of undeveloped land offer potential for future expansion or development. This single-tenant NNN investment provides a low-risk, income-oriented profile with a strong tenant covenant and long-term lease. The property's high-quality construction and maintenance, coupled with its strategic location and strong tenant, make it an attractive investment opportunity. The APN is 230200006.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Springville
- County
- Utah
- State
- Utah
- Longitude
- -111.633
- Latitude
- 40.1861
