1290 2320West Valley City, UT 84119

Property Details for 1290 2320

Year built

1984

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.59 AC

Property size (Sq ft)

22,850 SF

Zone code

B/RP

Property type

Industrial properties

Property subtype

Other warehouses

APN

15-23-151-004

APU

1523151004

Description

This exceptional investment opportunity presents a 23,017-square-foot flex building situated in West Valley City, Utah's thriving Metro Business Park. The single-story, 1984-built structure, renovated in 1998, boasts a desirable flex configuration, including 10,243 square feet of restaurant/catering space, 7,497 square feet of office space, and 5,277 square feet of warehouse space. The property sits on a 1.59-acre lot and includes 71 parking spaces. With a 15-foot ceiling height, the building offers ample space and functionality. Currently operating at 93.39% occupancy, this Class C property presents a significant rental upside potential. The current in-place rent averages $0.60 per square foot, with a mark-to-market opportunity estimated at $0.75 per square foot, leading to a pro-forma cap rate of 7.08%. The asking price is $2,877,000, resulting in a current cap rate of 5.70%. Its prime location offers excellent freeway access via I-201 and Redwood Road, and is conveniently located within a 5-minute walk of the River Trail TRAX light rail station, placing it at the heart of Salt Lake City's office-warehouse district. The property is zoned B/RP and its APN is 15-23-151-004. This well-positioned asset within a larger 842,000-square-foot complex of 13 buildings offers a compelling investment prospect with substantial growth potential.

Location Insight

City

West Valley City

County

Salt Lake

State

Utah

Latitude

40.7212

Longitude

-111.929

CBSA code

41620

CBSA name

SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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