2917 S Highland Dr - Retail FOR SALE


Salt Lake City, UT 84106- Sugar House
$2,181,818 USD
513-300-0763
2917 S Highland Dr, Salt Lake City, UT for Sale
$2,181,818 USD
Retail - FOR SALE
1/5
null | 5.5% Cap Rate

2917 S Highland Dr
Salt Lake City, UT 84106
Sugar House


HIGHLIGHTS

  • 10% RENT INCREASE WITHIN ONE YEAR - Annual rent increases from $120,000 to $132,000 on August 1, 2027.
  • The contractual bump adds $12,000 of annual NOI and increases the effective yield to approximately 6.05% at the asking price.
  • 7-Eleven bears responsibility for taxes, insurance, maintenance, roof, structure, parking areas and operating costs. landlord has no responsibility.
  • NEAR-TERM RENT GROWTH IN A DENSE INFILL CORRIDOR 24-HOUR OPERATION ABSOLUTE NNN CORPORATE GUARANTEE
  • Publicly reported projects identify more than 1,180 new or recent apartment units along the surrounding Highland Drive corridor.
  • Location has operated as a convenience store since 1964 and currently has 7.5+ years remaining on the base term.

OVERVIEW

Encore Real Estate Investment Services is pleased to present the fee-simple interest in a 24-hour 7-Eleven located along South Highland Drive between Sugar House and Millcreek. The property is secured by an absolute NNN lease with no landlord responsibilities and a corporate guarantee from 7-Eleven, Inc. The location combines established daily-needs demand with one of the Salt Lake Valley's most active infill residential corridors. Nearly 1,000 new units have been reported around Millcreek's emerging town center roughly one mile south, while the 193-unit residences at Sugar Alley adds further density along Highland Drive to the north. The tenant has occupied the site since 1964. Contractual 10% increases continue throughout the remaining term and all three five-year renewal options, creating measurable income growth without additional landlord capital.

FOR SALE DETAILS

PRICE

$2,181,818 USD

PRICE/SF

$909 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7-Eleven - Salt Lake City UT

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1964

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

16-28-151-030-0000

ASK ABOUT THIS PROPERTY

Brian BrockmanBang Realty, IncMore Info
513-300-0763

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Brian BrockmanBang Realty, IncMore Info
513-300-0763

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