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4220 S State St 5,272 SF Retail Building Murray, UT 84107 $5,193,005 CAD ($985.02 CAD/SF) 6.50% Cap Rate
Investment Highlights
- Zoned M-1 with historical use as car lot.
- Adjacent to big cottonwood creek
- Over 200 feet of State Street visibility.
Executive Summary
This exciting riverfront property is located walking distance from the Trax light rail train station, and within an Opportunity Zone. This area is growing quickly, with a successful apartment complex adjacent to the property. Owner currently occupies the property and willing to discuss leaseback.
Property Information:
Office + Industrial Warehouse + Car Lot
Currently used as a successful retail auto dealership.
Ground level bays, currently used for auto mechanic and auto body repairs.
Value add opportunity: Property is in an opportunity zone and any qualifying investment will grow tax free.
Located adjacent to Big Cottonwood Creek.
Close proximity to Trax Station and freeway.
Development opportunity; Millcreek is pro-builder and has a track record of approving new development projects.
Year Built: 2003
Building SF: 5,272
Acres / SF: 1.29 Acres / 56,192 SF
Frontage: ~243 on State Street.
Parking: Approximately 100 spaces.
Zoning: M-1, Light manufacturing, warehousing, and commercial uses allowed in the C-3 zone.
For additional information on zoning: https://millcreek.municipalcodeonline.com/book?type=planzone#name=Chapter_19.66_LIGHT_MANUFACTURING_ZONE_%22M%22
*Buyer to confirm all details; most data from public and tax records.
Property Information:
Office + Industrial Warehouse + Car Lot
Currently used as a successful retail auto dealership.
Ground level bays, currently used for auto mechanic and auto body repairs.
Value add opportunity: Property is in an opportunity zone and any qualifying investment will grow tax free.
Located adjacent to Big Cottonwood Creek.
Close proximity to Trax Station and freeway.
Development opportunity; Millcreek is pro-builder and has a track record of approving new development projects.
Year Built: 2003
Building SF: 5,272
Acres / SF: 1.29 Acres / 56,192 SF
Frontage: ~243 on State Street.
Parking: Approximately 100 spaces.
Zoning: M-1, Light manufacturing, warehousing, and commercial uses allowed in the C-3 zone.
For additional information on zoning: https://millcreek.municipalcodeonline.com/book?type=planzone#name=Chapter_19.66_LIGHT_MANUFACTURING_ZONE_%22M%22
*Buyer to confirm all details; most data from public and tax records.
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Auto Dealership
Building Size
5,272 SF
Building Class
C
Year Built
2003
Price
$5,193,005 CAD
Price Per SF
$985.02 CAD
Cap Rate
6.50%
NOI
$337,545 CAD
Tenancy
Single
Building Height
1 Story
Loading Docks
4 Exterior
Building FAR
0.09
Lot Size
1.29 AC
Opportunity Zone
Yes
Zoning
M-1 - Light Manufacturing Zoning - for light manufacturing, warehousing, and commercial uses allowed in C-3 zone and aesthetically attractive
Parking
75 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
243’ on State St
Amenities
- Bus Line
- Commuter Rail
- Pylon Sign
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Performance Emission
- Services
- -
- -
- -
- Super Ez Auto Sales
- Retailer
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Performance Emission | Services | - | - | - | ||
| Super Ez Auto Sales | Retailer | - | - | - |
Fairly walkable
50/100
Very drivable
80/100
Some public transit
50/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 22-06-102-019-0000 | Improvements Assessment | $987,854 CAD |
| Land Assessment | $1,392,461 CAD | Total Assessment | $2,380,315 CAD |
Property Taxes
Parcel Number
22-06-102-019-0000
Land Assessment
$1,392,461 CAD
Improvements Assessment
$987,854 CAD
Total Assessment
$2,380,315 CAD
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R&R Realty
4220 S State St
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