104 Main StRichfield, UT 84701

Property Details for 104 Main St

Lot size

0.12 AC

Property type

Hotels

Property subtype

Motels

APN

1-30-5

APU

1305

Description

This exceptional three-story, 13,770 square foot mixed-use building in Richfield, Utah's vibrant downtown (104 N Main St, 84701) presents a compelling investment opportunity. Built in 1913 and situated on a prominent 0.12-acre corner lot, the property boasts a blend of commercial, office, and residential spaces. The ground floor features a restaurant and retail space, while the second floor houses ten office units. Four residential apartments are located on the third floor. Currently 100% occupied with 16 tenants, the building generates a strong net operating income (NOI) of $110,393, representing a 9.40% capitalization rate. Recent renovations include updated electrical and plumbing systems, cosmetic enhancements, and a roof less than five years old. Additional income streams are derived from a leased rooftop to a telecommunications company and a separate rentable garage. The property is zoned for downtown use and offers high visibility and foot traffic, making it an ideal investment for both seasoned investors and those seeking a diversified portfolio. The building's historical charm combined with modern amenities creates a unique and attractive offering in the market. This stabilized investment, with its impressive NOI and cap rate, presents a rare opportunity to acquire a cornerstone property in Richfield's thriving downtown.

• CAP approach

  CAP return

  Valuation

  6%

  $1,590,767

  6.5%

  $1,468,401

  7%

  $1,363,515

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,460,989

  Geo Method

  $2,460,989

• Alternative Use

  Use

  Valuation

  Residential

  $1,603,067

  Hospitality

  $1,468,401

  Educational

  $1,221,692

  Medical

  $1,263,708

  Retail

  $1,900,410

Location Insight

City

Richfield

County

Sevier

State

Utah

Latitude

38.7696

Longitude

-112.084

Property Tax & Assessments

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