7444 Union Park AveMidvale, UT 84047

  • Retail properties
  • 4,300 SF
For Lease
$32/SF/YR View listing

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 properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
7444 Union Park Ave, Midvale, Utah

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$11,987
$440,200
$658,500
$1,098,700
-
$440,200
$658,500
$1,098,700

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