3383 Decker Lake DrWest Valley City, UT 84119

Property Details for 3383 Decker Lake Dr

Year built

2000

Construction

WOOD FRAME

Lot size

1.03 AC

Property size (Sq ft)

3,932 SF

Zone code

C-2

Property type

Retail properties

Property subtype

Turn key restaurants

APN

15-27-351-028

APU

1527351028

Description

This exceptional investment opportunity presents a single-tenant, 3,932 square foot IHOP restaurant located at 3383 Decker Lake Dr, West Valley City, UT 84119. The property sits on approximately 1.03 acres (44,867 sq ft) of land and boasts 153 feet of frontage on Decker Lake Drive (2200 West). The building, constructed in 2000, is situated in a high-traffic area with excellent visibility, benefiting from 34,571 AADT on 3500 South and 12,245 AADT on Decker Lake Drive. The property features 75 parking spaces and is zoned C-2 - General Commercial. The current lease, a Net Lease (NNN) with IHOP Properties, LLC, expires September 1, 2027, with three five-year renewal options. The current NOI is $208,650, representing a 7.45% cap rate on the asking price of $2,800,000 ($712.11/sq ft). The property's strategic location near the Maverik Center, a 12,000-seat arena hosting over 200 events annually, and numerous hotels, ensures consistent high traffic and strong tenant performance. This is a rare opportunity to acquire a well-established, high-performing IHOP location in a prime West Valley City location. The property's strong financials and long-term lease make it an attractive investment for discerning buyers.

• CAP approach

  CAP return

  Valuation

  6%

  $1,526,947

  6.5%

  $1,409,490

  7%

  $1,308,812

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,985,196

  Geo Method

  $1,985,196

• Alternative Use

  Use

  Valuation

  Residential

  $1,188,957

  Hospitality

  $1,089,079

  Educational

  $906,101

  Medical

  $937,263

  Retail

  $1,409,490

Location Insight

City

West Valley City

County

Salt Lake

State

Utah

Latitude

40.6988

Longitude

-111.947

CBSA code

41620

CBSA name

SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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