1260 Vine StMurray, UT 84121

Property Details for 1260 Vine St

Year built

1964

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.70 AC

Property size (Sq ft)

11,604 SF

Zone code

C-N

Property type

Strip malls

Property subtype

Neighborhood centers

APN

22-17-478-021

APU

2217478021

Description

This 11,840 square foot retail center, situated on a 70-acre lot in Murray, Utah (APN 22-17-478-021-0000), presents a compelling redevelopment investment opportunity. The property, built in 1964, features a two-story building with seven units and ample on-site parking. Available spaces range from 1,000 to 8,640 square feet of street-level retail/office space, and 1,000 to 3,200 square feet of garden-level space. The property is zoned for commercial strip center use and boasts a prime location in Murray, known for its high household income and dense population. Lease rates are $15.00-$20.00 per square foot, NNN, with estimated NNN expenses of $5.00 per square foot. The sale price is $150.00 per square foot. This versatile property is ideal for a variety of retail and office users, including barbershops, salons, clothing stores, and other professional services. The property's size and location make it an excellent opportunity for both leasing and sale. This is a multi-tenant property with a NNN lease type.

• CAP approach

  CAP return

  Valuation

  6%

  $4,506,328

  6.5%

  $4,159,687

  7%

  $3,862,566

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,858,650

  Geo Method

  $5,858,650

• Alternative Use

  Use

  Valuation

  Residential

  $3,508,852

  Hospitality

  $3,214,089

  Educational

  $2,674,084

  Medical

  $2,766,050

  Retail

  $4,159,687

Location Insight

City

Murray

County

Salt Lake

State

Utah

Latitude

40.6403

Longitude

-111.856

CBSA code

41620

CBSA name

SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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