175 Central AveMillcreek, UT 84107

Property Details for 175 Central Ave

Year built

1979

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

4.75 AC

Property size (Sq ft)

5,600 SF

Zone code

RM

Property type

Retail properties

Property subtype

Auto shops

APN

21-01-206-005

APU

2101206005

Description

This exceptional 7.18-acre commercial land parcel in Murray, Utah, presents a remarkable investment opportunity. Located at 175 W Central Ave, 84107, this property is ideally situated near the Murray North and Meadowbrook UTA Trax stations, offering convenient access to public transportation. The site is fully entitled for a 423-unit multifamily project, including 7,000 square feet of commercial space along Central Avenue. Detailed plans are in place, encompassing sophisticated building designs, amenities such as an upscale clubhouse, pool, fitness center, dog parks, fire pits, walking trails, and potential rooftop amenities. The project benefits from an existing Tax Increment Financing (TIF) agreement valued at $3.5 million, significantly reducing construction costs. Comprehensive surveys, geotechnical and environmental reports, and grading plans are all available. This Qualified Opportunity Zone property offers substantial potential for developers seeking a prime location with a fully approved, high-density project. The land is priced at $11,877,000, with a land value of $36 per square foot. The property's proximity to Big Cottonwood Creek adds to its aesthetic appeal and provides a naturally pleasant environment for future residents. This is a turnkey opportunity for immediate development.

Location Insight

City

Salt Lake City

County

Salt Lake

State

Utah

Latitude

40.6809

Longitude

-111.897

CBSA code

41620

CBSA name

SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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