345 E Riverside Dr - Light Distribution FOR SALE


Saint George, UT 84790
$8,375,000 USD
702-250-3392
345 E Riverside Dr, Saint George, UT for Sale
$8,375,000 USD
Light Distribution - FOR SALE
1/20
null | Request Cap Rate

Aug '25


345 E Riverside Dr
Saint George, UT 84790


HIGHLIGHTS

  • Well-located single-tenant office/warehouse building situated upon a large 4.5 acre lot.
  • Free-standing building containing a total of 30,867 square feet, split between 25,035 square feet of office space (81%) and 5,832 square feet (19%).
  • Rear of the property includes a gated ware-yard with covered parking, secure storage, and a storage building.
  • Estimated 480 linear feet of frontage along East Riverside Drive.
  • Formerly built-to-suit for the Bureau of Land Management St. George Field Office.
  • Anticipated occupancy date for a new tenant shall be on or before August 2025 in order to allow the Bureau of Land Management its full lease term.

OVERVIEW

Marcus & Millichap is pleased to present an incredible opportunity to purchase or lease a single or multi-tenant flex warehouse/office building plus a secured ware-yard situated upon a large 4.5 acre lot on strategically located East Riverside Drive just east of Interstate 15.  The Bureau of Land Management has occupied this building since 1997 and is currently planning a re-location due to an expansion requirement for additional building and yard space. Excellent investment option with attractive in-place income through the remainder of the lease term with current tenant, the Bureau of Land Management, which is currently set to expire by July 30, 2025. The rental rate is scheduled to increase in May 2025 through the end of the lease term, although the tenant intends to vacate the premises by April 30, 2025. The subject property is an ideal location for many tenant uses. Some of the many building enhancements include a remodeled lobby area with added safety barriers, updated HVAC systems, recently replaced carpet, an updated parking lot, site improvements including concrete added to improve drainage, as well as ongoing periodic maintenance. The rear of the property includes a gated ware-yard with covered parking, secure storage, and a storage building.  The subject is a free-standing building containing a total of 30,867 square feet, split between 25,035 square feet of office space (81%) and 5,832 square feet (19%) raised warehouse that includes mezzanine storage. The premises provide 16% of the site coverage with a Land-to-Building ratio of 6.35 : 1. Additional amenities include approximately 1,260 square feet of covered yard parking and a 600 square foot block storage building.  The interior features a reception area, office areas, a bull pen office and storage areas. Floor coverings include carpet and concrete. The walls are painted drywall and the ceilings are 10 foot high drop tile. There are 7 restrooms located within the facility.  Mechanical systems include 110/220 3-phase electrical, fire sprinklers and a security system.  There are 124 surface parking spaces representing a 4.02/1,000 parking ratio.  Commercial front and man doors are located around the office area. The warehouse has a large roll-up door with a man door. Warehouse space features heat and evaporative cooling.

FOR SALE DETAILS

PRICE

$8,375,000 USD

PRICE/SF

$272 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

BLM Building

PROPERTY TYPE

Flex

PROPERTY SUBTYPE

Light Distribution

ADD'L SUBTYPES

Industrial Live/Work Unit

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1994

UTILITIES

Water, Sewer

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

135

LAND DETAILS

LAND ACRES

4.5

LAND SF

196,020

ZONING

C-3

APN/PARCEL ID

0448434

ASK ABOUT THIS PROPERTY

Candace BareMarcus & MillichapMore Info
702-250-3392

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Candace BareMarcus & MillichapMore Info
702-250-3392

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