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The Hearth 1186 S Main St 7,560 SF Retail Building Salt Lake City, UT 84101 $3,066,293 CAD ($405.59 CAD/SF) 6.50% Cap Rate
Investment Highlights
- Approximately 4 Years Remaining | Annual Rental Increases | S Main St (11,700 VPD) | Interstate 15 (301,700 VPD)
- North of Major Retailers | Salt Lake City International Airport | High Population Area
- NNN Leased | Fee Simple Ownership | Limited Landlord Responsibilities
- Strong Demographics in 5-Mile Trade Area | Six-Figure Incomes
Executive Summary
• Approximately 4 years remaining on initial term
• Features annual 3% rental increases, steadily growing NOI and hedging against inflation
• Located along S Main St, which averages 11,700 vehicles passing by daily and is the major retail thoroughfare serving the city of Salt Lake City
• Positioned just east of Interstate 15 (301,700 VPD), a major north/south travelling highway connecting Salt Lake City to Las Vegas
• Features annual 3% rental increases, steadily growing NOI and hedging against inflation
• Located along S Main St, which averages 11,700 vehicles passing by daily and is the major retail thoroughfare serving the city of Salt Lake City
• Positioned just east of Interstate 15 (301,700 VPD), a major north/south travelling highway connecting Salt Lake City to Las Vegas
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
7,560 SF
Building Class
C
Year Built/Renovated
1946/1991
Price
$3,066,293 CAD
Price Per SF
$405.59 CAD
Cap Rate
6.50%
NOI
$199,339 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.96
Lot Size
0.18 AC
Zoning
MU-8 - Form Based Mixed Use 8 Zoning
Parking
6 Spaces (0.79 Spaces per 1,000 SF Leased)
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (78)
Nearby Major Retailers
Property Taxes
| Parcel Number | 15-12-479-010-0000 | Improvements Assessment | $1,364,589 CAD |
| Land Assessment | $474,913 CAD | Total Assessment | $1,839,503 CAD |
Property Taxes
Parcel Number
15-12-479-010-0000
Land Assessment
$474,913 CAD
Improvements Assessment
$1,364,589 CAD
Total Assessment
$1,839,503 CAD
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The Hearth | 1186 S Main St
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