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668 S 500 E

American Fork, UT 84003
  • $2,425,000
  • STATUS: Active
  • ON SITE: 151 Days
  • ID#: 1826401
UPDATED: 50 min ago
$2,425,000
  • 0
    BEDS
  • 1.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
2005
County:

School Ratings & Info

Description

See property flyer attached for marketing flyer. Single-tenant investment. Incredible location. Priced below replacement cost. 7 years left on 10-year lease with 2, 5-year options. NNN lease - Landlord only responsibilities are roof, asphalt, and HVAC repair/replacement. New AC unit in 2019. Tenant pays taxes, insurance, CAMS, utilities, maintenance of HVAC, etc. Highly sought-after location and an easy property to re-let in the future, at rates that will be well above current rental rates. Rent from Sept 1, 2022 to Aug 31st, 2023 is $9,107 / mo NNN. Thereafter adjusts to $7,878mo/ NNN. Initial 4 years of lease included carryback from from landlord to tenant that burns off end of 4th year.

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Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of 2022-12-05T12:39:22.687. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed accurate. Buyer to verify all information.
www.allutahrealestate.com/homes/130621729
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668 S 500 E American Fork, UT 84003

  • Price: $2,425,000
  • Status: Active
  • On Site: 151 Days
  • Updated: 50 min ago
  • ID#: 1826401
0
Beds
0
Baths
0
½ Baths
1.15
Acres
2005
Built
Neighborhood:
Holmstead Center
County:
Utah
Area:
Am Fork; Hlnd; Lehi; Saratog.
Property Description
See property flyer attached for marketing flyer. Single-tenant investment. Incredible location. Priced below replacement cost. 7 years left on 10-year lease with 2, 5-year options. NNN lease - Landlord only responsibilities are roof, asphalt, and HVAC repair/replacement. New AC unit in 2019. Tenant pays taxes, insurance, CAMS, utilities, maintenance of HVAC, etc. Highly sought-after location and an easy property to re-let in the future, at rates that will be well above current rental rates. Rent from Sept 1, 2022 to Aug 31st, 2023 is $9,107 / mo NNN. Thereafter adjusts to $7,878mo/ NNN. Initial 4 years of lease included carryback from from landlord to tenant that burns off end of 4th year.
Exterior Features

Attached Garage YN No Carport YN No Construction Status Blt./Standing Covered Spaces 0 Frontage Length 0.0 Garage YN No Horse Property YN No Lot Size Dimensions 0.0X0.0X0.0 Mobile Length 0 Mobile Width 0 Open Parking YN No Parking Total 0 Pool Private YN No Spa YN No View YN No Waterfront YN No

Interior Features

Bathrooms Partial 0 Cooling YN No Fireplace YN No Heating YN False Rooms Total 0

Property Features

Association YN No Current Use Retail Lease Considered YN No New Construction YN No Property Attached YN No Property Condition Blt./Standing Property Sub Type Retail Senior Community YN No Tax Annual Amount 13181

Listing provided courtesy of Core Utah Real Estate: 801-787-7255. Information deemed reliable but not guaranteed accurate. Buyer to verify all information. © 2022 Wasatch Front Regional Multiple Listing Service, Inc., All Rights Reserved.


Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of 2022-12-05T12:39:22.687. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed accurate. Buyer to verify all information.
 
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