Property Information > Triple Net Retail Investment > 2,015 SF (0.63 Acres) > 100% Occupied > Effective year built in 2017 (originally 1965) > General Commercial Zoning > Cap Rate: 6.25% > Purchase Price $1,078,656 > Traffic Counts: Redwood Road: 34,550 ADT 4700 S: 26,170 ADT
SURROUNDING BUSINESS
Salt Lake City International Airport Downtown Salt Lake City Park City Site
Tenant Sq Ft Rate Monthly Rent Annual Term Lease Expiration Escalations/ Options 2,015 $33.45 $5,618.00 $67,416.00 5 Years Feb 28, 2022 2.5% Annually Three 5 yr (@ Market Rent) Projected Income & Expense Gross Potential Income $67,416 Vacancy (5%) N/A Effective Gross Income N/A Operating Expenses NNN Net Operating Income $67,416 Price $1,078,656 $1,172,452 Cap Rate 5.75% 6.25%vv5555 2018 2022 Actual Pro Forma 6.25% 6.9% $74,415* N/A N/A NNN $74,415 N/A 6.3% *Estimated market rent Comparables Tenant Address City Sale Price Year Built Building SF Land (Acres) Price SF Cap Rate Village Inn 4681 S Redwood Road $1,308, 000 1975/2011 5,162 0.495 $253.39 5.5% Wendy s 1598 W 10400 S South Jordan, UT $1,200,000 2000 3,229 0.97 $371.63 5.75% Sonic 267 E 12300 S Draper, UT $828,100 2004 1,451 0.8 $570.71 5.80% AT&T Lehi Crossing Lehi, UT $116,029 2016 4,001 0.71 $29.00 5.25% Wendy s 1180 S Broadway Boise, ID $1,302,000-2,096 0.40 $621.18 5.51% Availables Taco Time 796 E State Road American Fork, UT $814,286 2000 2,046 0.30 $397.98 7% Hot Dog on a Stick 826 East 9400 South Sandy, UT $280,000 1988 420 0.23 $666.66 6% Subway 9581 South 700 East Sandy, UT $692,500 1,400 $494.64 6.25%
A&W Restaurants, Inc. is a chain of fast-food restaurants distinguished by its craft root beer and root beer floats. Its origins date back to when Roy W. Allen opened a walk-up root beer stand in Lodi, California, in 1919. Allen s employee Frank Wright partnered with him and founded the first A&W restaurant in Sacramento, California, in 1923. The company name was taken from the initials of their last names Allen and Wright. The company became famous in the United States for its frosty mugs, where the mugs would be kept in the freezer and filled with A&W Root Beer before they are served to customers. UFS Managment is a local franchisee with two stores open, a third on the way and more pending. Though UFS Managment has many companies, this particular company has a guaranteed asset value of $2,000,000; per the lease, they are required to maintain the above asset value otherwise the lessor has a course of action. After taking delivery, UFS Managment spent approximately $513,000 of their own capital for the remodel of the restuarant and subsequently improving the asset. Additionally, they have installed approximately $173,000 worth of new fixtures, furniture and equipment (including a walk-in refrigerator and freezer). Taylorsville Taylorsville today is made up of three historic communities: Taylorsville, Bennion & Kearns. The city officially became the City of Taylorsville during the centennial anniversary of Utah s statehood in 1996. As Taylorsville has continued to grow it has increasingly focused on its economic development. Several businesses have found the many advantages that a Taylorsville location can provide, such as above-average household incomes and a substantial population near their business. Our workforce is younger than the national average and better educated! Utah has the fourth highest percentage of high school graduates and the 11th highest percentage of college graduates in the nation. The city is fortunate to host the Sorenson Research Park, a high-tech business park that Demographics includes firms such as Convergys, ICU Medical, ALS Population 1 Mile 3 Mile 5 Mile Laboratories, Royal Bank of Scotland, and Sorenson 2017 Estimated Population 15,889 148,980 393,562 Communications. Other large employers that have 2022 Projected Population 16,563 156,070 412,068 been attracted to Taylorsville are Walmart, Unified Households 1 Mile 3 Mile 5 Mile State Laboratories, American Express, and Nelson 2017 Estimated Households 5,995 51,838 138,137 Laboratories. 2022 Projected Households 6,236 54,365 144,675 Regional, community, and neighborhood 2017 Est. Average HH Income $68,726 $67,798 $68,280 shopping/commercial centers along these corridors 2017 Est. Median HH Income $55,461 $54,407 $54,693 2017 Est. Per Capita Income $24,485 $22,704 $22,992 provide the nucleus of extraordinary commercial opportunities in Taylorsville.
Redwood Road
Why You Should Invest in Utah 1 #1 Best State For Business (Forbes, 2015) Top 10 Labor Market Ranked Top 10 (Forbes, 2015) AAA 1 of 13 States Awarded A AAA Credit Rating (Standard & Poor s, 2015) #1 in 2014 Economic Outlook Ratings (ALEC, 2015) 3 1 2 Unemployment Is Second Lowest In Nation (Dept. Of Workforce Services) Globally Ranked Salt Lake City Ranked on of the 15 Best Cities To Do Business Globally (Fortune)
Life Is Elevated In Salt Lake City 5 NATIONAL PARKS 43 STATE PARKS 14 WORLD-CLASS SKI RESORTS 3 1 2 SALT LAKE RANKED ONE OF THE HEALTHIEST METRO AREAS (ATLANTIC CITIES MAGAZINE) OVER 9 MILLION ACRES OF NATIONAL FOREST UTAH HAS 6TH LOWEST CRIME RATE IN THE U.S. #1 HIKING CITY (SALT LAKE CITY) (NATIONAL GEOGRAPHIC ADVENTURE) SALT LAKE RANKED BEST PLACE TO LIVE PARK CITY RANKED BEST TOWN EVER (OUTSIDE MAGAZINE) 2ND MOST LIVABLE STATE (CQ PRESS, 2013) #1 STATE FOR FUTURE LIVABILITY (GALLUP WELLBEING)