7444 Union Park AveMidvale, UT 84047

Property Details for 7444 Union Park Ave

Year built

2011

Lot size

0.23 AC

Property size (Sq ft)

4,300 SF

Zone code

C-2

Property type

Retail space

APN

22-29-402-005

APU

2229402005

Description

This exceptional 4,300-square-foot freestanding retail building is ideally situated on Union Park Avenue in Salt Lake City's Midvale | Fort Union submarket. Boasting a single-tenant occupancy, this property presents a unique investment opportunity for sale or lease. The building sits on a 0.23-acre lot, providing ample space and visibility. Conveniently located near the intersection of Union Park Avenue and 7400 South / 1300 East, this property benefits from high traffic counts, with a reported 33,643 average daily traffic on Union Park Avenue. The property includes eight parking stalls for customer and employee convenience. The building is zoned C, allowing for a variety of retail uses. The property features a single story and no elevators. The asking price for the sale of this property is $1,900,000. For lease, the rate is $32 per square foot, NNN. The property's APN is 22-29-005-0000, and it is located in Salt Lake County. This is a quietly marketed opportunity; please do not disturb the tenant. This prime location and strong traffic counts make this a highly desirable retail space. The property's single-tenant occupancy ensures a stable income stream for investors. Don't miss this chance to acquire a valuable asset in a thriving Salt Lake City market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,669,881

  6.5%

  $1,541,428

  7%

  $1,431,326

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,170,992

  Geo Method

  $2,170,992

• Alternative Use

  Use

  Valuation

  Residential

  $1,300,252

  Hospitality

  $1,191,024

  Educational

  $990,918

  Medical

  $1,024,997

  Retail

  $1,541,428

Location Insight

City

Midvale

County

Salt Lake

State

Utah

Latitude

40.616

Longitude

-111.859

CBSA code

41620

CBSA name

SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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