Rare In n Out Asset- 20 Yr. Ground Lease | In n Out
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Rare In n Out Asset- 20 Yr. Ground Lease In n Out
3,860 SF 4-Star Retail Building Salt Lake City, UT 84115 £8,123,907 (£2,105/SF) 3.50% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Extremely Rare Opportunity - In-N-Out Burger - South Salt Lake City, UT
- Generational Asset – 20 Yr. Primary Term w/ Four 5-Year Option Periods
- Adjacent to Highly Desirable Sugar House Neighborhood - Most eccentric Neighborhood in SLC
- Brand New Absolute NNN Ground Lease - Zero Landlord Responsibilities
- Inflation Resistant Cash Flows - 10% Rental Increases Every 5 Years
- Close Proximity to Interstate 15 (Over 311,000 VPD) & Interstate 80 (Over 136,000 VPD)
EXECUTIVE SUMMARY
The Snyder Carlton National Net Lease Team is pleased to offer to qualified investors a rare opportunity to acquire In-N-Out Burger in South Salt Lake City, UT. This generational asset comprises a brand new 20-year absolute NNN ground lease with four 5-year option periods, 10% rent increases every 5 years, additional billboard revenue and no landlord responsibilities generating internet resistant cash flows for years to come. In-N-Out Burger is annually voted the #1 Hamburger and is best in class for fast food quick service restaurants.
The new construction 3,860 SF building with drive-thru on 1.58 acre parcel is strategically located on the hard corner signalized intersection of S Main Street and 2100 South, which has a combined traffic count exceeding 66,100 VPD, and is within close proximity to Interstate 15 (Over 311,000 VPD) and Interstate 80 (Over 136,000 VPD). Nearby retailers include The Home Depot, Costco, WinCo Foods, McDonald’s, Raising Cane’s, Chipotle, Jack in the Box, Starbucks and more.
This is an exquisite opportunity to secure a trophy In-N-Out Burger in Salt Lake City (MSA population exceeding 1.26 million) with a corporate guarantee, rent increases, zero landlord duties, and a best in class tenant providing effortless income for years to come.
The new construction 3,860 SF building with drive-thru on 1.58 acre parcel is strategically located on the hard corner signalized intersection of S Main Street and 2100 South, which has a combined traffic count exceeding 66,100 VPD, and is within close proximity to Interstate 15 (Over 311,000 VPD) and Interstate 80 (Over 136,000 VPD). Nearby retailers include The Home Depot, Costco, WinCo Foods, McDonald’s, Raising Cane’s, Chipotle, Jack in the Box, Starbucks and more.
This is an exquisite opportunity to secure a trophy In-N-Out Burger in Salt Lake City (MSA population exceeding 1.26 million) with a corporate guarantee, rent increases, zero landlord duties, and a best in class tenant providing effortless income for years to come.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,860 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2024
Construction Status
Under Construction
Price
£8,123,907
Price Per SF
£2,105
Net Initial Yield
3.50%
NOI
£284,338
Tenancy
Single
Number of Floors
1
Building FAR
0.06
Lot Size
1.58 AC
Opportunity Zone
Yes
Zoning
Commercial Neighborhood - Fast Food / Restaurant
Frontage
AMENITIES
- Corner Lot
- Signage
- Drive Thru
Walk Score®
Very Walkable (81)
Bike Score®
Very Bikeable (75)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 16-19-103-021-0000 | Improvements Assessment | £209,241 |
| Land Assessment | £2,526,801 | Total Assessment | £2,736,043 |
PROPERTY TAXES
Parcel Number
16-19-103-021-0000
Land Assessment
£2,526,801
Improvements Assessment
£209,241
Total Assessment
£2,736,043
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Rare In n Out Asset- 20 Yr. Ground Lease | In n Out
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