949 W 1700 S Salt Lake City, UT 84104

Property Details for 949 W 1700 S

Lot size

0.01 lot acres

Zone code

CG

Property type

Commercial land

APN

15-14-405-005

APU

1514405005

Description

This exceptional investment opportunity presents the fee-simple ownership of a thriving 38,696 square-foot retail storefront in Salt Lake City, Utah. Currently occupied by Marine Products, an exclusive dealer for MP, Moomba, and Supra boats, this property boasts a long-term, absolute triple-net (NNN) lease expiring December 29, 2028, with built-in rent bumps. The lease ensures minimal owner responsibilities, providing a passive income stream. Situated on a 2.64-acre lot with 430 feet of frontage on 1700 South, the property comprises three buildings. The asking price is $6,500,000, representing a compelling cap rate of 6.69% and a net operating income (NOI) of $434,728. The property is zoned CG and features the APN 15-14-405-021-0000. This is a rare chance to acquire a high-performing, established retail asset in a prime Salt Lake City location with a strong, long-term tenant. The property's significant size, prominent location, and secure lease structure make it an ideal addition to any diversified investment portfolio. The established tenant and consistent revenue stream offer significant stability and potential for future appreciation. This is a turnkey investment opportunity requiring minimal management.