3383 Decker Lake Dr West Valley City, UT 84119
- Turn key restaurants
- 3,932 SF
- 1.03 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 3383 Decker Lake Dr
- Year built
- 2000
- Construction
- WOOD FRAME
- Lot size
- 1.03 lot acres
- Property size
- 3,932 SF
- Zone code
- C-2
- Property type
- Turn key restaurants
- APN
- 15-27-351-028
- APU
- 1527351028
Description
This exceptional investment opportunity presents a single-tenant, 3,932 square foot IHOP restaurant located at 3383 Decker Lake Dr, West Valley City, UT 84119. The property sits on approximately 1.03 acres (44,867 sq ft) of land and boasts 153 feet of frontage on Decker Lake Drive (2200 West). The building, constructed in 2000, is situated in a high-traffic area with excellent visibility, benefiting from 34,571 AADT on 3500 South and 12,245 AADT on Decker Lake Drive. The property features 75 parking spaces and is zoned C-2 - General Commercial. The current lease, a Net Lease (NNN) with IHOP Properties, LLC, expires September 1, 2027, with three five-year renewal options. The current NOI is $208,650, representing a 7.45% cap rate on the asking price of $2,800,000 ($712.11/sq ft). The property's strategic location near the Maverik Center, a 12,000-seat arena hosting over 200 events annually, and numerous hotels, ensures consistent high traffic and strong tenant performance. This is a rare opportunity to acquire a well-established, high-performing IHOP location in a prime West Valley City location. The property's strong financials and long-term lease make it an attractive investment for discerning buyers.
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
- West Valley City
- County
- Salt Lake
- State
- Utah
- Longitude
- -111.947
- Latitude
- 40.6988
- CBSA code
- 41620
- CBSA name
- SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA
