865 North Temple, Salt Lake City, UT 84116
7,000 SF | Retail Building | Salt Lake City, UT 84116 | $4,954,950 ($708/SF)
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $4,954,950
- Property Type
-
Retail
- Square Feet
- 7,000 SF
- Price / Square Foot
- $708
Listing Contacts
Kip Paul
Verified Profile
Michael King
Verified Profile
JT Redd
Verified Profile
Kathey Hart
Verified Profile
Christopher Fiander-Carr
Verified Profile
- Property Info
Property Overview
Cushman & Wakefield as exclusive advisor is pleased to present the opportunity to a covered land play development site (the “Site”, or “865 W North Temple”) situated in the heart of the North Temple corridor of Salt Lake City, Utah.
The Site is situated under a mile east of The Larry H. Miller Company’s (LHM) Power District, a 100-acre multi-phase development, planned to include Rocky Mountain Power’s new state-of-the-art headquarters, apartments, retail outlets, and potential Major League Baseball (MLB) stadium. 865 W North Temple features 0.91-acres of future developable land with as-of-right zoning, direct proximity to major mixed-use developments along North Temple, and is strategically positioned just 5 minutes from Downtown Salt Lake City and 10 minutes from the new Salt Lake City International Airport.
Presently, the Site features a single-tenant retail property leased to O’Reilly Auto Parts under a triple-net (NNN) lease, which is set to expire in February 2030. O’Reilly has expressed interest in extending the lease beyond its expiration date due to the store’s excellent performance. This provides significant optionality for the next owner, allowing an investor the choice to continue operating the site as-is for the foreseeable future, initiate development plans, or any combination thereof.
The Site is situated under a mile east of The Larry H. Miller Company’s (LHM) Power District, a 100-acre multi-phase development, planned to include Rocky Mountain Power’s new state-of-the-art headquarters, apartments, retail outlets, and potential Major League Baseball (MLB) stadium. 865 W North Temple features 0.91-acres of future developable land with as-of-right zoning, direct proximity to major mixed-use developments along North Temple, and is strategically positioned just 5 minutes from Downtown Salt Lake City and 10 minutes from the new Salt Lake City International Airport.
Presently, the Site features a single-tenant retail property leased to O’Reilly Auto Parts under a triple-net (NNN) lease, which is set to expire in February 2030. O’Reilly has expressed interest in extending the lease beyond its expiration date due to the store’s excellent performance. This provides significant optionality for the next owner, allowing an investor the choice to continue operating the site as-is for the foreseeable future, initiate development plans, or any combination thereof.
Property Details
- Class
- C
- Year Built
- 1970
- Stories
- 1
- Property Subtype
- Vehicle Related
- Lot Size (sq. ft)
- 30,492 SF
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