For Sale
$1,400,000

696 Confluence AveMurray, UT 84123

High-yield industrial property, strong tenant.

Overview

Added:
Feb 3
Days on market:
61
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 Details for 696 Confluence Ave

Property type
Industrial properties
Lot Size (sq. ft)
871 SF

Location Insight

City
Murray
County
Salt Lake
State
Utah
Latitude
40.67877
Longitude
-111.9102
696 Confluence Ave, Murray, Utah

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
696 Confluence Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message