For Sale
$27,964,444

1375 Mtn Spgs PkwySpringville, UT 84663

High-yield Utah industrial property.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 242,000 square foot warehouse located at 1375 N Mountain Spgs Pkwy, Springville, UT 84663. The property, built in 1985 and fully renovated in 2013, boasts a 6.75% cap rate and is currently 100% occupied under a triple-net (NNN) lease expiring January 30, 2029. The asking price is $27,964,444, translating to $115.56 per square foot. Situated on a 19.41-acre lot with permitted C-Commercial zoning, this two-story building features 12 dock-high doors and ceiling heights ranging from 21'9" to 24'6". The property benefits from its prime location immediately off Interstate 15, providing excellent visibility and convenient access. The tenant, a manufacturer of pet treats, has invested significantly in the facility, which meets OTC, Nutraceutical, and US food requirements. The facility is the sole supplier for PetIQ and includes a generator/backup power system and power monitor/control system. Furthermore, over six acres of undeveloped land offer potential for future expansion or development. This single-tenant NNN investment provides a low-risk, income-oriented profile with a strong tenant covenant and long-term lease. The property's high-quality construction and maintenance, coupled with its strategic location and strong tenant, make it an attractive investment opportunity. The APN is 230200006.

Highlights

  • NNN investment opportunity with single tenant.
  • Fully remodeled in 2013.
  • Excellent freeway access via I-15 in Utah.
  • Significant recent tenant improvements.
  • Six acres of excess land available for future expansion.
  • Immaculately maintained building.

Property Details for 1375 Mtn Spgs Pkwy

Property type
Warehouses, Retail properties
Square Feet
242,000 SF
Year Built/Renovated
1985/2013
Stories
2
Lot Size (sq. ft)
845,500 SF

Location Insight

City
Springville
County
Utah
State
Utah
Latitude
40.1860679
Longitude
-111.6328552
1375 Mtn Spgs Pkwy, Springville, Utah

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1375 Mtn Spgs Pkwy
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