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LongHorn Steakhouse (Ground Lease) 3019 5600 w 5,780 SF 100% Leased Retail Building West Valley City, UT 84120 $3,350,208 CAD ($579.62 CAD/SF) 5% Cap Rate
INVESTMENT HIGHLIGHTS
- NEW ABSOLUTE NNN GROUND LEASE WITH INCREASES
- EXPANDING CONCEPT WITH LIMITED COMPETITION
- BELOW MARKET RENTS
- CORPORATE GUARANTY
- DOMINANT RETAIL TRADE AREA NEAR CENTENNIAL PARK
- OUTPARCEL TO HIGH-TRAFFIC SHOPPING CENTER
EXECUTIVE SUMMARY
Northmarq, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the ground lease located at 3019 S 5600 W in West Valley City, UT (the “Property”). Encompassing ±5,780 SF on ±1.43 acres, the Property represents recent 2025 construction and is occupied by LongHorn Steakhouse, operating under a 10-year absolute NNN ground lease with full term remaining and zero landlord responsibilities. The Lease also includes 10% rental increases every 5 years.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Building Size
5,780 SF
Year Built
2025
Price
$3,350,208 CAD
Price Per SF
$579.62 CAD
Cap Rate
5%
NOI
$167,510 CAD
Percent Leased
100%
Building Height
1 Story
Opportunity Zone
Yes
NEARBY MAJOR RETAILERS
1 of 2
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LongHorn Steakhouse (Ground Lease) | 3019 5600 w
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