4252 S 700 E - Office FOR SALE


Salt Lake City, UT 84107- Millcreek
$3,500,000 USD
801-971-2542
4252 S 700 E, Salt Lake City, UT for Sale
$3,500,000 USD
Office - FOR SALE
1/29
null | 5.3% Cap Rate

4252 S 700 E
Salt Lake City, UT 84107
Millcreek


OVERVIEW

This 2-story, 10,282 SF office building is designed to support a productive and professional workplace. With a combination of private offices, open work areas, and essential amenities, it caters to diverse business needs. Whether you're a growing company or an established firm, this space provides the flexibility and features necessary for success. Spacious and welcoming open reception area, ideal for greeting clients and visitors. 3 well-appointed board rooms, perfect for meetings and presentations. 25 private offices offering privacy and space for focused work. Comfortable break room for employees to relax and recharge. Open bull pen areas with cubicles, fostering collaboration and teamwork. Ample natural light throughout the building, creating a bright and inviting work environment. Partially furnished, allowing for immediate occupancy with minimal setup. Well-maintained property, ensuring a professional appearance and smooth operation. Ample parking available for employees and visitors. Existing Lease Information: • Base Rent: $15,423.00/Month ($18 SF/YR) • All Utilities in Tenant's Name (Including Tax & Insurance) • Annual Base Rent Increases: 2.5% • Current NOI: $185,600.00 • CAP Rate: 5.29% Escalating to 6.6% • Rooms: 30 • Single Tenant • Lease Term: 123 Months • Lease Start Date: 12/1/2024 • Lease End Date: 1/31/2035 Currently, there is a cross access easement over the church owned lot to the west for additional parking as well as overflow parking for the church on the subject property on Sundays. The subject property lot is a .58-acre lot with future development potential after the long term lease in place expires. The offering includes a 10-year lease with 2.5% annual escalations in place with a will known law firm, along with the future opportunity for the church to free up the parking overlay unlocking a higher and better future use.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$340 USD /SF

CAP RATE

5.3%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1985

SPRINKLERS

-

PARKING SPACES

75

LAND DETAILS

LAND ACRES

0.58 AC

LAND SF

25,265 SF

ZONING

5200

APN/PARCEL ID

22-05-105-010-0000

ASK ABOUT THIS PROPERTY

Joseph MillsInvestment Realty AdvisorsMore Info
801-971-2542

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Joseph MillsInvestment Realty AdvisorsMore Info
801-971-2542

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