975 Main StRichfield, UT 84701

Property Details for 975 Main St

Lot size

0.50 AC

Property type

Retail properties

Property subtype

Auto shops

APN

1-2-52

APU

1252

Description

This exceptional investment opportunity presents a 3,280 square foot auto service shop located at 975 N Main St, Richfield, UT 84701. The property, built in 1996, sits on a 0.5-acre lot and features a two-story building with a main level of 1,960 square feet, including a 304 square foot office, and a 1,320 square foot basement. The shop boasts a full three-bay pass-through design, complete with pits in each bay, providing ample space for efficient vehicle servicing. The asking price is $850,000, or a lease is available at $60,000 annually (NNN), commencing June 1st, 2024. This single-tenant property benefits from a high-traffic location, surrounded by established businesses such as Subway, Arby's, Flying J, IFA, Best Western, and Mountain America Credit Union, ensuring strong visibility and customer accessibility. The property's APN is 0164844. This turnkey operation presents a compelling opportunity for an established auto service business or a savvy investor seeking a strong return. The property's size, layout, and prime location make it an attractive proposition for a variety of automotive-related businesses. The price per square foot is $259.15.

• CAP approach

  CAP return

  Valuation

  6%

  $8,578,568

  6.5%

  $7,918,678

  7%

  $7,353,058

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,996,330

  Geo Method

  $10,996,330

• Alternative Use

  Use

  Valuation

  Residential

  $6,679,701

  Hospitality

  $6,118,570

  Educational

  $5,090,578

  Medical

  $5,265,652

  Retail

  $7,918,678

Location Insight

City

Richfield

County

Sevier

State

Utah

Latitude

38.7817

Longitude

-112.085

Property Tax & Assessments

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