1155 N Freedom Blvd - Auto Repair FOR SALE


Provo, UT 84604- North Park
$2,016,000 USD
949-677-4757
1155 N Freedom Blvd, Provo, UT for Sale
$2,016,000 USD
Auto Repair - FOR SALE
1/2
null | 5.35% Cap Rate

1155 N Freedom Blvd
Provo, UT 84604
North Park


HIGHLIGHTS

  • Honest-1 Auto has been operating at this location since 2008, for almost 17 years. The tenant has approximately 3 years remaining on the current term
  • The property is directly across from Brigham Young University which has enrollment of 35,000+ students, also adjacent to McDonald's
  • The lease is NNN with the Tenant responsible for all expenses. Additionally, the Tenant has above market annual increases of 2.5%.
  • Neighboring tenants: Utah Valley Hospital,Target, Macy's, Chick-fil-A, Dutch Bros, Starbucks, CVS, Chipotle, Raising Cane's & more

OVERVIEW

Northmarq is pleased to exclusively offer this 100% occupied, absolute NNN leased Honest 1 Auto Care in booming Provo, UT. Long-tenured tenant (17 years) with 3 years remaining on current term + three 5-year FMV options. Above-market 2.5% annual escalations provide stable cash flow and rental upside at renewal (current $17.07 PSF). Added income stream from long-term ground lease with First Digital Networks (Veracity Networks, LLC) for underground cable closet—nominal $275/mo ($3,300/yr) NNN through Feb 2034 (~8.3 years remaining), no landlord expenses.

FOR SALE DETAILS

PRICE

$2,016,000 USD

PRICE/SF

$329 USD /SF

CAP RATE

5.35%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Honest-1 Auto Care

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

ADD'L SUBTYPES

Freestanding, Service Station

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1988

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.64 AC

LAND SF

27,878 SF

ZONING

CG

APN/PARCEL ID

19-072-0014

ASK ABOUT THIS PROPERTY

Ronnie GivargisNorthmarqMore Info
949-677-4757

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Ronnie GivargisNorthmarqMore Info
949-677-4757

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.