22 State StSalina, UT 84654

Property Details for 22 State St

Lot size

0.31 AC

Property type

Commercial real estate

APN

1-S28-58

APU

1S2858

Description

This exceptional investment opportunity presents a freestanding Family Dollar store located at 22 S State St, Salina, UT 84654. The property boasts 8,265 square feet on a 0.68-acre lot, built in 2014. Currently operating under a Net Lease (NN) agreement with a corporate guarantee, the tenant has recently exercised their first renewal option, extending the lease through May 31, 2029. This provides a remaining lease term of approximately 4.5 years. The initial 10-year lease commenced April 3, 2014. The annual net operating income (NOI) is $123,200, reflecting a 7.75% cap rate based on the asking price of $1,589,677 ($192.34 per square foot). The lease includes five, five-year renewal options with a 10% rent increase in each. This translates to significant long-term growth potential. The property's 100% occupancy and strong tenant history make it an attractive investment for those seeking stable, high-return retail assets. The location in Salina, Utah, within Sevier County, offers a strategic position within the local market. This is a turnkey investment opportunity with a proven track record and substantial future upside.

• Alternative Use

  Use

  Valuation

  Residential

  $4,141,537

  Hospitality

  $3,793,626

  Educational

  $3,156,252

  Medical

  $3,264,800

  Retail

  $4,909,726

Location Insight

City

Salina

County

Sevier

State

Utah

Latitude

38.9573

Longitude

-111.86

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].