10396 River Heights DrSouth Jordan, UT 84095-9058

Property Details for 10396 River Heights Dr

Year built

2015

Lot size

0.72 AC

Property size (Sq ft)

3,860 SF

Zone code

C-C

Property type

Retail properties

Property subtype

Drive through restaurants

APN

27-17-201-037

APU

2717201037

Description

This exceptional investment opportunity presents a 3,860-square-foot Burger King located at 10396 South River Heights Drive in South Jordan, Utah, 84095. The property boasts a strong 10.3 years remaining on an absolute triple-net (NNN) lease, commencing November 1, 2020, and expiring February 19, 2035, with four 5-year renewal options. The franchisee tenant provides a secure investment with zero landlord responsibilities. The property features a double-lane drive-thru, enhancing operational efficiency and customer convenience. Built in 2015, this strategically located restaurant sits on a 0.72-acre lot within a prime retail corridor of South Jordan, a suburb of Salt Lake City, less than 30 minutes away. The property benefits from high visibility and traffic volume, exceeding 40,000 vehicles per day on West South Jordan Parkway and over 60,000 vehicles per day off of Bangerter Highway. Its proximity to major retailers like Walmart, Costco, and others further strengthens its position. The strong demographics of the area, with a population of 122,911 within a 3-mile radius and an average household income of $148,596, contribute to the property's consistent performance. The lease includes 10% rent increases every five years, with the next increase scheduled for 2025. The current net operating income (NOI) is $158,400, resulting in a 4.95% cap rate and a price per square foot of $829.02. The asking price for this exceptional investment is $3,200,000. Salt Lake City's proximity to six major ski resorts and its ranking among the top ten fastest-growing cities in the U.S. further enhance the long-term investment potential.

• CAP approach

  CAP return

  Valuation

  6%

  $1,499,025

  6.5%

  $1,383,716

  7%

  $1,284,879

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,948,844

  Geo Method

  $1,948,844

• Alternative Use

  Use

  Valuation

  Residential

  $1,167,216

  Hospitality

  $1,069,164

  Educational

  $889,531

  Medical

  $920,124

  Retail

  $1,383,716

Location Insight

City

South Jordan

County

Salt Lake

State

Utah

Latitude

40.5624

Longitude

-111.973

CBSA code

41620

CBSA name

SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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