696 Confluence Ave Murray, UT 84123-1378

This exceptional industrial property located at 696 Confluence, Murray, UT, presents a compelling investment opportunity. The 6,200 square foot building, constructed in 2006, sits on a 0.02-acre lot and is currently leased to Luxor Reptiles (Heatseeker Reptiles), generating a substantial annual gross rent of $82,656. The property boasts a strong net operating income of $62,293.39, resulting in a current cap rate of 4.45%. Annual property taxes are $10,258.73, insurance costs are $2,031, and HOA fees amount to $2,479.68. A 3% reserve of $2,479.68 is also in place. The property features two floors and LED lighting, with the current lease expiring April 30, 2026. A significant advantage is the inclusion of one five-year renewal option at fair market value for the tenant. A pro forma analysis, assuming a rent of $1.25 per square foot (NNN), projects an annual rent of $94,500 and a compelling pro forma cap rate of 6.57%. This property offers a blend of immediate income and long-term growth potential, making it an attractive addition to any investment portfolio. Annual rent increases are set at 3%.