2703 8400th W Magna, UT 84044-1303
- Commercial land
- 0.94 lot acres
Aug 17, 2023
Current Use by Public Records
- Commercial land
Property Details for 2703 8400th W
- Lot size
- 0.94 lot acres
- Zone code
- C2
- Property type
- Commercial land
- APN
- 14-29-201-014
- APU
- 1429201014
Description
Exceptional investment opportunity featuring a 7-Eleven convenience store in Magna, UT. This fee-simple property boasts a strong performing location with approximately 40 years of operating history. The absolute triple-net (NNN) lease, guaranteed by 7-Eleven (S&P rating "A"), offers over 9 years remaining, followed by three 5-year renewal options with rent bumps of 8% during the base term and 10% during the options. The 2,577 square foot building sits on a 0.48-acre lot with 8 parking spaces and enjoys high visibility at a signalized intersection on 2703 S 8400 W, exposed to approximately 22,000 cars daily. The property generates a strong net operating income (NOI) of $90,000, resulting in a 5.25% cap rate. The location benefits from strong demographics, with approximately 51,371 people within a 3-mile radius and an average household income of approximately $106,430. This e-commerce resistant, recession-proof investment offers passive ownership with zero landlord responsibilities. Built in 1985, the property presents a secure and profitable addition to any portfolio. The lease commenced November 1, 1985, and expires December 31, 2033.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Magna
- County
- Salt Lake
- State
- Utah
- Longitude
- -112.091
- Latitude
- 40.7106
- CBSA code
- 41620
- CBSA name
- SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA
