Entity Owned Property summary
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%.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
To provide for areas in appropriate locations where light industrial processes necessary to the economy may be conducted. The regulations of this district are designed to impose only so much regulation as necessary to en…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2024Property description
Physical attributes from public recordsZoning & alternative use
M-G · Murray, UTTo provide for areas in appropriate locations where light industrial processes necessary to the economy may be conducted. The regulations of this district are designed to impose only so much regulation as necessary to en…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
To provide for areas in appropriate locations where light industrial processes necessary to the economy may be conducted. The regulations of this district are designed to impose only so much regulation as necessary to en…
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The district profile from the municipal source: what is on file for M-G in Murray, UT.
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