3217 Decker Lake DrWest Valley City, UT 84119

Property Details for 3217 Decker Lake Dr

Year built

1998

Construction

STEEL FRAME

Lot size

12.84 AC

Property size (Sq ft)

157,482 SF

Zone code

C-2

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

15-27-301-025

APU

1527301025

Description

This exceptional two-story, 166,177 square foot executive office building in West Valley City, Utah, presents a compelling investment opportunity. Located on a 14.9-acre lot with 1,074 parking spaces, the property boasts a 100% occupancy rate with Select Portfolio Servicing, Inc. under a net lease agreement extending to November 30, 2027, with three five-year options. The building, constructed in 1998 and extensively renovated in 2016, features a modern design, high ceilings, and a fully redundant power system including dual generators and a UPS system. The tenant has invested over $20 million in building improvements, including a data center and file vault. Situated in a prime opportunity zone, adjacent to Interstate 215 and seven minutes from the Salt Lake City International Airport, this property offers unparalleled convenience and access. The building's exceptional condition, strong tenant, and strategic location make it an ideal investment, with a current asking price of $20,000,000 and an 8.50% cap rate. The property is zoned C-2 and includes a 29-foot tall, water-tight roof platform added in 2017 for enhanced weather protection of critical equipment. This asset offers significant long-term value and potential for future appreciation.

• CAP approach

  CAP return

  Valuation

  6%

  $51,587,632

  6.5%

  $47,619,352

  7%

  $44,217,972

• Comparable approach

  Method

  Valuation

  Relative Method

  $48,904,852

  Geo Method

  $48,904,852

• Alternative Use

  Use

  Valuation

  Residential

  $47,619,352

  Hospitality

  $43,619,072

  Educational

  $36,290,556

  Medical

  $37,538,644

  Retail

  $56,451,976

Location Insight

City

West Valley City

County

Salt Lake

State

Utah

Latitude

40.7017

Longitude

-111.947

CBSA code

41620

CBSA name

SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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