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22 S State St
Salina, UT 84654

Family Dollar · Retail Property For Sale

Investment Highlights

  • Original 10-Year Double Net (NN) Lease
  • Approximately 5+ Years Remaining
  • Tenant Recently Extended Into the First Renewal Option Solidifying Commitment to the Location

Executive Summary

Bang Realty is pleased to present the exclusive listing for a Family Dollar located at 22 South State Street in Salina, Utah. The site consists of roughly 8,265 rentable square feet of building space on estimated 0.68-acre parcel of land. This Family Dollar is subject to a 10-year double-net (NN) lease, which commenced April 3rd, 2014. The tenant recently extended into their first renewal option, solidifying their commitment to the location. The current annual rent is $123,000 and is scheduled to increase by 10% in each of the 5, 5-year remaining renewal options.
*Tenant has Exercised 1st Renewal Option, Rent Increases to $123,200 on 6/1/24. Pricing is Based on Upcoming Renewal Rent.

PROPERTY FACTS

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,265 SF
Building Class
B
Year Built
2014
Price
£1,245,194
Price Per SF
£151
Net Initial Yield
7.75%
NOI
£96,503
Tenancy
Single
Number of Floors
1
Building FAR
0.28
Lot Size
0.68 AC

PROPERTY TAXES

Parcel Numbers
Multiple
  • 1-S28-59
  • 1-S28-58
 Improvements Assessment £548,670
Land Assessment £104,079 Total Assessment £652,750

PROPERTY TAXES

Parcel Numbers
Multiple
  • 1-S28-59
  • 1-S28-58
Land Assessment
£104,079
Improvements Assessment
£548,670
Total Assessment
£652,750
 

  • Listing ID: 31459490

  • Date on Market: 09/04/2024

  • Last Updated:

  • Address: 22 S State St, Salina, UT 84654

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