Current Use by Public Records
- Retail properties & Spaces
Property Details for 451 Midvalley Rd
- Year built
- 2024
- Lot size
- 1.00 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a brand-new, 10,640-square-foot Dollar General convenience store located at 451 E Midvalley Rd, Enoch, UT 84721. The property, built in 2024, sits on one acre and boasts 35 parking spaces. This is a single-tenant, absolute NNN net lease with a corporate guarantee from Dollar General, offering significant security and passive income. The lease commenced December 1, 2024, and extends for 15 years, with favorable 5% rent bumps every 5 years. The current annual net operating income (NOI) is $162,144, representing a 6.25% cap rate on the $2,594,000 asking price. Strategically located in Enoch, Utah, near Cedar City and Zion National Park, this property benefits from a strong local economy and high tourist traffic. The area's demographics show an average household income of $85,893 within a 5-mile radius and a population of 25,036. The property is conveniently situated approximately 7 miles from Cedar City Regional Airport and along Interstate 15, offering excellent accessibility. This is a rare opportunity to acquire a high-performing, low-maintenance retail investment with a strong tenant and long-term lease. The property's location near popular tourist destinations and a growing community ensures consistent revenue streams. The lease includes five 5-year renewal options, providing long-term stability and growth potential.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Enoch
- County
- Iron
- State
- Utah
- Longitude
- -113.053
- Latitude
- 37.7652
