623 E Fort Union Blvd 7,128 SF Office Condo Unit Offered at $2,712,073 CAD in Midvale, UT 84047
INVESTMENT HIGHLIGHTS
- Well-located NNN office condo investment available in Ft Union area
- Rent has substantial upside when the lease rolls
- Proximate to Top Regionally Trafficked Locations
- NNN lease with management already in place
EXECUTIVE SUMMARY
- Well-located office condo investment available in Ft Union area - Located on Ft Union Blvd near 700 E - Convenient mid-valley location near both I-15 and I-215 - Proximate to Top Regionally Trafficked Locations - Below market rents - 100% leased to salon studio tenant - NNN lease
PROPERTY FACTS
| Price | $2,712,073 CAD |
| Unit Size | 7,128 SF |
| No. Units | 1 |
| Total Building Size | 18,504 SF |
| Property Type | Office (Condo) |
| Property Subtype | Medical |
| Sale Type | Investment |
| Building Class | B |
| Floors | 2 |
| Typical Floor Size | 9,252 SF |
| Year Built | 2007 |
| Lot Size | 1.53 AC |
| Parking Ratio | 3.03/1,000 SF |
| Zoning | MU |
1 UNIT AVAILABLE
Unit B3-4,13-16
| Unit Size | 7,128 SF |
| Price | $2,712,073 CAD |
| Price Per SF | $380.48 CAD |
| Condo Use | Office |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| NOI | $149,163.99 CAD |
| No. Parking Spaces | 21 |
| APN/Parcel ID | 22302320280000 |
DESCRIPTION
This 7,128 SF office condo investment presents a rare opportunity to acquire a fully leased commercial office condo with substantial upside in the thriving Midvale, Utah market. With a longstanding and reliable tenant in place, the property generates stable income while offering significant upside potential through both appreciation and rent growth, as the current lease rate is below market.
SALE NOTES
NNN lease with management in place.
Cap rate is on existing income.
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