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$2,800,000

Est. payment - /mo

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435 Sqft Lot

Price Dropped by $200K

231 S EDISON ST E Salt Lake City, UT 84111

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Element Real Estate Brokers

admin@elementreb.com +1(435) 200-1991

UPDATED:

10/15/2024 05:47 PM

Key Details

Property Type Commercial

Sub Type Retail

Listing Status Active

Purchase Type For Sale

Subdivision Warhol Lofts

MLS Listing ID 1999613

Construction Status Blt./Standing

HOA Y/N No

Year Built 2024

Annual Tax Amount $7,574

Lot Size 435 Sqft

Acres 0.01

Lot Dimensions 0.0x0.0x0.0

Property Description

Introducing a prime investment opportunity in the heart of downtown Salt Lake City! Nestled at 231-233 S Edison Street, this street retail property is part of the prestigious Warhol Lofts building, offering a seamless blend of commercial vibrancy and luxury living. Boasting a solid NNN lease, this property is a lucrative investment, generating $173,376.00 annually with 3% annual increases. The lease extends until November 30th, 2033, with the added benefit of four 5-year options to renew, ensuring long-term stability and profitability. Currently occupied by the esteemed Franklin Avenue Cocktails & Kitchen, known for its high-end cuisine and crafted cocktails, the tenant's guarantor brings a wealth of experience, owning multiple successful restaurants in downtown Salt Lake City. Whether you're seeking a reliable income stream or a strategic addition to your portfolio, this opportunity presents unmatched potential in one of Salt Lake City's most sought-after locations. Don't miss your chance to secure your stake in this thriving urban landscape!

Location

State UT

County Salt Lake

Area Salt Lake City; So. Salt Lake

Interior

Interior Features Kitchen, Range/Oven, Refrigerator, Restroom: Public, Sprinkler System Fire

Heating Forced Air

Cooling Central Air

Inclusions Real Estate

Fireplace No

Appliance Real Estate

Exterior

Utilities Available 120/208 V 3 Phase 4 Wire

Waterfront No

View Y/N No

Present Use Retail

Private Pool false

Building

Faces West

New Construction No

Construction Status Blt./Standing

Others

Senior Community No

Tax ID 16-06-186-009

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by KW Salt Lake City Keller Williams Real Estate

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Element Real Estate Brokers

Broker | License ID: 13589667-CN00

+1(435) 200-1991

Element Real Estate Brokers

231 S EDISON ST E Salt Lake City, UT 84111

Element Real Estate Brokers

Key Details

Location

Interior

Exterior

Building

Others

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231 S EDISON ST E