For Sale
$1,589,677

22 State StSalina, UT 84654

High-yield retail investment, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a freestanding Family Dollar store located at 22 S State St, Salina, UT 84654. The property boasts 8,265 square feet on a 0.68-acre lot, built in 2014. Currently operating under a Net Lease (NN) agreement with a corporate guarantee, the tenant has recently exercised their first renewal option, extending the lease through May 31, 2029. This provides a remaining lease term of approximately 4.5 years. The initial 10-year lease commenced April 3, 2014. The annual net operating income (NOI) is $123,200, reflecting a 7.75% cap rate based on the asking price of $1,589,677 ($192.34 per square foot). The lease includes five, five-year renewal options with a 10% rent increase in each. This translates to significant long-term growth potential. The property's 100% occupancy and strong tenant history make it an attractive investment for those seeking stable, high-return retail assets. The location in Salina, Utah, within Sevier County, offers a strategic position within the local market. This is a turnkey investment opportunity with a proven track record and substantial future upside.

Highlights

  • $1,589,677 asking price for a Family Dollar convenience store in Salina, Utah.
  • Net lease investment with a corporate guarantee.
  • 8,265 square feet on a 0.68-acre lot, with a price per square foot of $192.34.
  • 7.75% cap rate based on a net operating income (NOI) of $123,200.
  • 100% occupancy with approximately 4.5 years remaining on a 15.2-year lease, including one 5-year renewal option already exercised.

Property Details for 22 State St

Property type
Retail properties, Grocery and convenience stores
Square Feet
8,265 SF
Year Built
2014
Lot Size (sq. ft)
29,621 SF

Location Insight

City
Salina
County
Sevier
State
Utah
Latitude
38.9570975
Longitude
-111.8605382
22 State St, Salina, Utah

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22 State St
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