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Bank of America 2662 S High Commons Way

4,000 SF Retail Building West Valley City, UT 84120 £1,565,583 (£391/SF) 4.75% Net Initial Yield

Investment Highlights

  • 10+ years remaining on corporate ground lease featuring 10% rental increases every 5 years during the primary terms and option periods
  • Pad to Target-anchored shopping center with drive-thru
  • Top 17% most visited Bank of America location in Utah per Placer.ai
  • Strong intrinsic value – large 1.07-acre lot with low rent of $93,500
  • Significant frontage on S 5600 W – 36,630 VPD
  • Affluent residential demographics – $105,388 average household incomes within a 1-mile radius of the subject property

Executive Summary

10+ years remaining on corporate ground lease featuring 10% rental increases every 5 years and 4, 5-year options to extend the lease. Subject property is located in West Valley City, an affluent Salt Lake City suburb, and features significant frontage on heavily trafficked S 5600 W – 36,630 VPD.

Attachments

BankofAmerica_WestValleyCityUT

Property Facts

Sale Type
Investment
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Bank
Building Size
4,000 SF
Building Class
B
Year Built
2019
Price
£1,565,583
Price Per SF
£391
Net Initial Yield
4.75%
NOI
£74,381
Tenancy
Single
Number of Floors
1
Building FAR
0.09
Lot Size
1.07 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
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2662 S High Commons Way, West Valley City, UT - aerial map view - Image1
2662 S High Commons Way, West Valley City, UT - aerial map view - Image2

Nearby Major Retailers

Bank Of America
Freddy's Frozen Custard & Steakburgers
Cafe Rio
Wells Fargo
Winco Foods
Capriotti's
Black Bear Diner
Starbucks
Buffalo Wild Wings
Cafe Zupas

PROPERTY TAXES

Parcel Number 14-24-353-006-0000 Improvements Assessment £1,496,788
Land Assessment £816,924 Total Assessment £2,313,711

PROPERTY TAXES

Parcel Number
14-24-353-006-0000
Land Assessment
£816,924
Improvements Assessment
£1,496,788
Total Assessment
£2,313,711
(650) 678-7200

Contacts

  • Listing ID: 34224951

  • Date on Market: 17/12/2024

  • Last Updated:

  • Address: 2662 S High Commons Way, West Valley City, UT 84120

The Retail Property at 2662 S High Commons Way, West Valley City, UT 84120 is currently available for sale. Contact CP Partners CRE for more information.

Nearby Listings

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2662 S High Commons Way, West Valley City, UT for sale Primary Photo- Image 1 of 5
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2662 S High Commons Way, West Valley City, UT for sale Building Photo- Image 2 of 5
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2662 S High Commons Way, West Valley City, UT for sale Aerial- Image 3 of 5
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2662 S High Commons Way, West Valley City, UT for sale Aerial- Image 4 of 5
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© 2024 CoStar Group

Bank of America | 2662 S High Commons Way
(650) 678-7200 x

Bank of America | 2662 S High Commons Way

1/2

John Andreini

(650) 678-7200

(650) 678-7200

Kirby Dederian

(415) 274-2700

(415) 274-2700

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