Cushman & Wakefield is pleased to present a recently constructed 3,000± square foot single-story retail building built in 2021. Leased to 7-Eleven, Inc., the property has 12 pumps under a canopy with ample parking on site. The lease is net with the tenant responsible for taxes, insurance, and maintenance with the landlord responsible for roof and structure. The regular maintenance of the property’s common areas, including the cost of the landlord’s insurance and excluding capital expenditures, shall be reimbursed to the Landlord with a 10% management fee for those costs. There are four 5-year options to renew with the same 10% rental increase at the start of each option.
The property is an outparcel to a center located along the well-trafficked Van Winkle Expressway (State Route 152), which boasts 14,940 VPD. The Van Winkle Expressway serves as a crucial arterial in the Salt Lake City metropolitan area, linking the eastern neighborhoods of Salt Lake City to the city of Murray. The site has strong demographics with a population of over 123,000 and an average household income of $131,600 within three miles. Within the site’s immediate area, there are various uses, including shopping centers, schools, country clubs, and dense suburban residential. Tenants in the surrounding area include Walgreens, AutoZone, Macey’s, Petsmart, Ace Hardware, Dollar Tree, Dutch Bros, Starbucks, EOS Fitness, and other national tenants.
In association with Rick Newton, a Utah Licensee.