WEST VALLEY PLAZA S REDWOOD RD WEST VALLEY CITY, UT MULTI TENANT TRIPLE NET INVESTMENT

Transcription

1 WEST VALLEY PLAZA S REDWOOD RD WEST VALLEY CITY, UT MULTI TENANT TRIPLE NET INVESTMENT

2 PROPERTY DETAILS PROPERTY HIGHLIGHTS LOCATION OVERVIEW WEST VALLEY CITY 1.05 acre lot with a 10,629 sq. ft. multi tenant building. Shadow anchored by Smith s Grocery Store (NAP) Cross parking and cross easements currently in place Located in a highly populated area High visibility and access from Redwood Rd (31,590 ADT) and 4100 S (26,435 ADT). Tenants include: Metro PCS, Allstate, California Salon, House of Hukas, Fast Bucks, and Liberty Tax Anchored by Smith s Grocery Store (NAP), West Valley Plaza is located in a well established retail corridor of West Valley City. The center boasts an excellent mix of nearby tenants and is located close to Interstate 215. The site is 5 city blocks from Salt Lake Community College s main campus, which serves over 15,000 students each year. The Salt Lake International Airport, which accommodates an estimated 21 million passengers annually and is a hub for Delta Airlines, is located approximately 7 miles Northwest of West Valley Plaza. A $1.8 billion airport expansion is underway and is expected to be completed in The second largest city in Utah, West Valley boasts a population of over 139,000. It is a fast growing and highly diverse area of Salt Lake County, with over 20 parks and numerous recreational centers available for all residents. This area is home to many corporate headquarters, regional offices, and worldwide distribution centers for Verizon Wireless, Frito Lay, Backcountry.com, United Parcel Service (UPS), and Discover Card. Economic development activities in the heart of the city include a complete redevelopment of Valley Fair Mall and an all-new transit-oriented development connecting to the rest of the Salt Lake Valley via the TRAX rail system.

3 WEST VALLEY PLAZA S REDWOOD RD WEST VALLEY, UT PROPERTY SUMMARY PURCHASE PRICE $1,500,000 CAP RATE 7.22% CURRENT ANNUAL RENT $121, NNN SHORTFALL ($13,296) CURRENT NOI $108, BUILDING SF 10,629 SF PRICE / SF $ PARKING SPACES 50 LOT SIZE 1.05 ACRES PARCEL NUMBER LEASE TYPE NNN YEAR BUILT 1986 TYPE OF OWNERSHIP FEE SIMPLE CROSS PARKING YES CROSS EASEMENTS YES MONUMENT SIGN YES OCCUPANCY (1 VACANCY) 79% RENT ROLL ADDRESS TENANT SQ. FT. MONTHLY RENT LEASE EXPIRATION 4081 House of Hukas 1,500 $2, /30/ Fast Bucks 1,500 $2, /1/ Allstate 1,804 $1, /31/ Metro PCS 1,080 $ /31/ California Salon 1,565 $1, /1/ Vacant 2,216 $ Liberty Tax 964 $1, /31/21 TOTAL 10,629 $10,134.91

4 POPULATION POPULATION 1 Mile 3 Miles 5 Miles 2017 Estimated 21, , , Estimated 22, , ,650 MEDIAN AGE 2017 Estimated DAYTIME POPULATION 2017 Estimated 7,177 93, ,879 RACE AND ETHNICITY White 63.0% 67.0% 70.4% Black or African American 3.1% 2.8% 2.5% Hispanic 28.7% 29.4% 26.8% Asian 9.3% 5.7% 5.0% American Indian or Alaska Native 1.5% 1.5% 1.4% Pacific Islander 3.0% 3.0% 2.5% Other Race 15.6% 15.6% 14.1% Two or More Races 7.3% 6.3% 6.4% DEMOGRAPHICS INCOME & EMPLOYMENT 1 Mile 3 Miles 5 Miles HOUSEHOLD INCOME 2017 Estimated Average $59,873 $63,118 $67, Estimated Average $68,164 $71,099 $76,159 DAYTIME EMPLOYEES 2017 Estimated Average 9, , ,827 EMPLOYMENT STATUS 2017 Employed % 95.2% 95.2% 2017 Unemployed % 4.8% 4.8% CLASS OF WORKERS White Collar 52.6% 52.9% 55.4% Services 19.2% 17.2% 16.9% Blue Collar 28.2% 30.0% 27.7% HOUSEHOLDS 1 Mile 3 Miles 5 Miles HOUSEHOLDS 2017 Estimated 7,929 45, , Estimated 8,248 48, ,441 ANNUAL HOUSEHOLD GROWTH RATE % 0.99% 0.94% % 1.00% 0.94% HOUSEHOLD SIZE 2017 Estimated Average

5 201 INTERSTATE South- 27,205 ADT TRAX S John s Marketplace 5600 S Los Bertos W STATE HWY 6100 S FASHION PLACE MALL DILLIARDS MACY S S SEARS NORDSTROM NO ORDSTROM 970,722 SF TRAX 7000 S 7000 S N 900 E 4800 W 2700 W 3200 W Nickel-Cade Redwood Road- 44,885 ADT 4000 W Crazy Buffet VAN RS L XPY TAYLORSVILLE MYE E KLE WIN 5400 S ADT 4500 S 6200 S 3900 S House of Hukas 1300 E ,180 Fast Bucks 89 INTERSTATE 4700 S California Salon SITE 4100 S 3300 S HIGHLAND DR Just Emissions SOUTH SALT LAKE STATE ST 4800 W 905,000 SF REDWOOD RD MACY S COSTCO JCPENNEY ROSS 5600 W F UTURE MOUNTAIN VIE W C ORRIDOR VALLEY FAIR MALL EA MILLC ND DR HIGHLA 3100 S 3500 S 2700 S TR AX HWY VALLEY ITY 2700 S 700 E RTER PARKWAY BLVD 30,590 ADT S REDWOOD RD WEST VALLEY, UT S-LINE STREETCAR E BANG PROPERTY AERIAL 2100 S S 6900 S 7200 S MIDVALE CREEK RD RAX

6 201 INTERSTATE 80 RTER TR AX SOUTH SALT LAKE 3900 S 700 E STATE ST 4100 S INTERSTATE 4500 S 1300 E S VAN MYE HIGHLAND DR House of Hukas TAYLORSVILLE XPY 5600 S DILLIARDS MACY S S SEARS NORDSTROM NO ORDSTROM 68 TRAX 970,722 SF S 6900 S 7000 S 7000 S 6100 S FASHION PLACE MALL 2700 W 6200 S 3200 W 900 E 4800 W N California 2, 2 1 Salon AVA 6 SF ILAB S 5300 LE E KLE WIN 4000 W RS L 7200 S W STATE HWY 3300 S 89 REDWOOD RD 4800 W 905,000 SF 5400 S EA MILLC VALLEY FAIR MALL MACY S COSTCO JCPENNEY ROSS 5600 W F UTURE MOUNTAIN VIE W C ORRIDOR 3100 S 3500 S 2700 S ND DR HIGHLA VALLEY ITY 2700 S HWY PARKWAY BLVD TRAX S REDWOOD RD WEST VALLEY, UT S-LINE STREETCAR E BANG PROPERTY AERIAL 2100 S MIDVALE CREEK RD RAX

7 SITE PLAN House of Hukas California Salon 2,216 SF AVAILABLE 4100 South - 26,435 ADT

8 PLAT MAP Redwood Road - 30,590 ADT 1.05 ACRE SITE 4100 South - 26,435 ADT

9 PROPERTY PHOTOS

10 FOR MORE INFORMATION, PLEASE CONTACT Stephanie Buranek Associate Russ Harris First Vice President JR Moore First Vice President CBRE, Inc. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. PMStudio_ SEPTEMBER2017