Former Village Inn
0.75 Acres of Commercial Land Offered at $5,717,250 USD in Salt Lake City, UT 84102
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,717,250
- Property Type
-
Land
Listing Contacts
Kip Paul
Verified Profile
Michael King
Verified Profile
JT Redd
Verified Profile
- Property Info
Property Overview
The Site is situated under 5 minutes west of the University of Utah (the U), the state’s flagship higher education institution with nearly 35,000 students enrolled as of 2023. The U has declared its goal to reach an enrollment of 40,000 over the next decade, while requiring an additional 10,000 housing units to meet this demand. Cushman & Wakefield estimates that there are only 1,000 beds of inventory for purpose-built student housing in the University’s vicinity, signaling the absolute need for the market to supply this product type. 910 East 400 South presents the compelling opportunity for developers to capture future rental growth from this supply-constrained market. On the multifamily side, the Site benefits from its location on 400 South, a major transit corridor. It can cater to a demographic that wishes to live just outside of Salt Lake City’s CBD while not giving up access and convenience.
Property Details
- Property Subtype
- Commercial
Highlights
- Strategically located on the hard corner of 900 East and 400 South, allowing access from two highly-trafficked corridors.
- Desirable and unique zoning of TSA-UN-T allows up to 50’ of height with zero height minimums, providing for a variety of uses.
- The area surrounding 910 East 400 South showcases strong demographics, with average household income for 2023 at $101,096 within a 5-mile radius.
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