345 Riverside Dr St George, UT 84790-6714

Property Details for 345 Riverside Dr

Year built

1994

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

4.50 lot acres

Property size

30,566 SF

Property type

Commercial real estate

APN

SG-5-2-31-2346

APU

SG52312346

Description

This exceptional 30,867-square-foot flex space in St. George, Utah, presents a compelling owner-user or investment opportunity. Located on a substantial 4.5-acre lot at 345 E Riverside Dr, 84790, this single-story, Class B building boasts a desirable location near Interstate 15. Currently vacant, the property offers a significant 7.10% cap rate with a NOI of $595,000. The asking price is $8,375,000, translating to $271.33 per square foot. Built in 1994, the building features 25,035 square feet of office space and 5,832 square feet of warehouse space, including mezzanine storage. A gated yard provides covered parking, secure storage, and an additional storage building. Recent improvements include a remodeled lobby, updated HVAC systems, new carpeting, and a renovated parking lot with enhanced drainage. The building is equipped with 110/220 3-phase electrical service, fire sprinklers, and a security system. Ample parking is available with 124 surface spaces (4.02 per 1,000 sq ft). The property is zoned C3 and offers approximately 480 linear feet of frontage on East Riverside Drive. The lease with the previous tenant, the Bureau of Land Management, expires April 29, 2025. This presents a unique chance to acquire a well-maintained, strategically located property with significant upside potential. The property is offered fee simple with no ground lease.