57 Ctr St Midvale, UT 84047-7363

This exceptional investment opportunity presents a fully leased 900-square-foot restaurant building situated on a 0.33-acre lot at 57 W Center St, Midvale, UT 84047. The property boasts a strong location, benefiting from high visibility and significant foot traffic due to its proximity to a TRAX light rail station and the bustling State Street retail corridor, which sees over 30,000 vehicles daily. Currently operating as M&C Burger under a 5-year NNN lease (expiring 02/27/2029), the property offers a current NOI of $35,820 and a 5.97% cap rate. The pro-forma NOI is projected at $75,000, representing a 12.50% pro-forma cap rate. The lease includes 3% annual rent increases. Built in 1956, this single-story building features a drive-thru window, maximizing sales potential. The property's small but functional interior complements the efficient drive-thru operation. The asking price is $600,000, translating to $666.67 per square foot and $41 per square foot for the land. This presents a compelling opportunity for investors seeking a stable, high-traffic location with significant upside potential. The property is zoned commercial and enjoys excellent visibility thanks to a large pylon sign. The lease commenced on February 29, 2024, and the tenant has no credit rating. This is a single-tenant property with no lease options.