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22 S State St
Salina, UT 84654

Family Dollar · Retail Property For Sale

Retail Buildings Utah Salina 22 S State St, Salina, UT 84654

Investment Highlights

  • Original 10-Year Double Net (NN) Lease
  • Approximately 5+ Years Remaining
  • Tenant Recently Extended Into the First Renewal Option Solidifying Commitment to the Location

Executive Summary

Bang Realty is pleased to present the exclusive listing for a Family Dollar located at 22 South State Street in Salina, Utah. The site consists of roughly 8,265 rentable square feet of building space on estimated 0.68-acre parcel of land. This Family Dollar is subject to a 10-year double-net (NN) lease, which commenced April 3rd, 2014. The tenant recently extended into their first renewal option, solidifying their commitment to the location. The current annual rent is $123,000 and is scheduled to increase by 10% in each of the 5, 5-year remaining renewal options.
*Tenant has Exercised 1st Renewal Option, Rent Increases to $123,200 on 6/1/24. Pricing is Based on Upcoming Renewal Rent.

PROPERTY FACTS

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,265 SF
Building Class
B
Year Built
2014
Price
$2,249,123 CAD
Price Per SF
$272 CAD
Cap Rate
7.75%
NOI
$174,307 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.28
Lot Size
0.68 AC

PROPERTY TAXES

Parcel Numbers
Multiple
  • 1-S28-59
  • 1-S28-58
 Improvements Assessment $985,673 CAD
Land Assessment $186,976 CAD Total Assessment $1,172,649 CAD

PROPERTY TAXES

Parcel Numbers
Multiple
  • 1-S28-59
  • 1-S28-58
Land Assessment
$186,976 CAD
Improvements Assessment
$985,673 CAD
Total Assessment
$1,172,649 CAD
 

  • Listing ID: 31459490

  • Date on Market: 2024-04-09

  • Last Updated:

  • Address: 22 S State St, Salina, UT 84654

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