List Price: Off Market
Neighborhood: Salt Lake City
Property Profile: 2,848 rentable sq. ft.
Our Opinion: In our city’s current real estate market (hot…white hot), finding an investment property with a good looking cap rate can be tough, to say the least. Precisely why we think this medical office property on 900 East (near 4500 South) is worth a good, hard look. After two sizable price cuts, it’s now on the market for only $380,000 (that’s down from an initial price of $539,000). With 2,848 rentable square feet of high quality, fully-finished office space, we feel pretty certain that a savvy investor is going to snap this baby right up. Review our pro forma financials below and see for yourself, gang…at a triple-net rent of $10/RSF (which strikes us as pretty darn reasonable for a space this solid), the $380,000 list price would represent a cap rate of 7.5%. That’s an investment potential you’d be hard pressed to find in many other properties. Let’s talk more about this one, eh? Give us a call to arrange a tour.
Contact Paul Svendsen at cityhomeCOLLECTIVE for additional details or to schedule a private showing | 801.441.8563
