203 Main St Richfield, UT 84701-2560
This exceptional commercial property in Richfield, Utah presents a rare investment opportunity. Located on Main Street, the 0.37-acre lot features two separate buildings, each with its own address, offering immense potential for dual businesses or expansion. The main building boasts prominent Main Street frontage, ideal for a variety of commercial uses. A second building, situated on 200 South, provides additional space and flexibility. Constructed in 1977, the buildings offer a solid foundation but may require some modernization to suit a buyer's specific needs. Currently leased to a car dealership, this property offers immediate income potential or the chance to develop a unique business strategy. The location on Main Street ensures high visibility and accessibility, making it an attractive proposition for entrepreneurs seeking a well-positioned commercial space in a thriving community. The dual-building configuration allows for diverse business ventures, from retail to service-based operations. This is a chance to acquire a substantial commercial property in a desirable location with significant upside potential. The property's size and configuration provide ample room for growth and adaptation to various business models. The existing lease provides a stable income stream while offering the flexibility to reposition the property for future growth. This is a truly unique opportunity not to be missed.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.