949-378-7364
2 South 400 West, Salt Lake City, UT for Sale
Hospitality - FOR SALE
1/7
null | Request Cap Rate

2 South 400 West
Salt Lake City, UT 84103
Central Salt Lake City


HIGHLIGHTS

  • Abundant On-site Amenities
  • Durable Cash Flow with Inflationary Hedge
  • The NNN Lease in-place Requires Minimal Management from New Ownership

OVERVIEW

GENERATIONAL LEASED FEE INTEREST IN SALT LAKE CITY'S LEAD ENTERTAINMENT DISTRICT: The offering presents a once-in-a-generation opportunity to acquire a leased fee interest in one of the most impressive and improved land parcels in Salt Lake City. Totaling ±1.71 acres, the separately parceled site is part of the larger “The Gateway” mixed-use development directly across from Delta Center, home of the widely celebrated Utah Jazz of the National Basketball Association and the Utah Hockey Club of the National Hockey League. DURABLE CASH FLOW WITH INFLATIONARY HEDGE: New ownership enjoys an in-place ground lease that spans ±98 remaining years. The lease generates an in-place net income totaling $1.1 million each year. A fifteen-percent increase in rent every decade provides an attractive hedge against future inflationary pressures. EASE OF OWNERSHIP: The NNN lease in-place requires minimal management from new ownership. Any operational risk is fully assumed by an experienced tenancy who has assembled a formidable business plan.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF ROOMS

225

CAP RATE

Request Cap Rate

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Asher Adams - The Gateway

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

8

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

2024

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.71 AC

LAND SF

74,488 SF

ZONING

GMU

APN/PARCEL ID

08-36-376-016-0000

ASK ABOUT THIS PROPERTY

Anthony DeLorenzoCBRE, Inc.More Info
949-378-7364

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Anthony DeLorenzoCBRE, Inc.More Info
949-378-7364

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.