Wednesday, November 10, 2010
West Valley City, Utah - Today we have Net Lease Properties information from Utah. We have not performed an Investment Property search in this area for some time. Recently a Net Lease Investment sold in West Valley City. West Valley City is approximately 8.2 Miles south of the Salt Lake City International Airport (SLC) which is located at S. Rio Grande St, Salt Lake City, Utah. The address of this Net Lease Investment is 3383 Decker Lake Drive in West Valley City, Utah.
This Triple Net Lease Property owned by WB Equities was sold to a trust controlled by Moses Ouzuonian. We are not aware of the sales price yet on this net lease investment however it was being offered for $2.32 million. This Net Lease Property is a 4,114 square-foot retail building and was marketed as a 6.75% Cap Rate. This Triple Net Lease Property is situated on a 44,815 Square foot lot. IHOP restaurant has approximately 17 years left on its 25-year primary term "NNN" triple net lease. Of course the "NNN" triple net lease properties are most desired.
This IHOP Corporate guarantee on the absolute triple net lease property is a Trophy IHOP restaurant. The triple net lease began September 2002 with 10% increases every 5 years, including the three 5-year options to renew. This Triple Net Lease Property benefits from the 44,815 square feet (1.03 Acre) with 63 parking spaces. This Triple Net Lease Property also maintains a very strong location with the profitable businesses nearby. A NNN Investment Property with No Landlord responsibilities whatsoever is one of the fastest growing products for Investment Property Portfolios.
This Triple Net Lease Property is within one mile from The E-Center, Salt Lake City' s 10,000 seat entertainment venue (1-block north), the Hale Centre Theater. Other restaurants nearby are a Chili' s (next door), Ruby Tuesday' s, Training Table, and Applebees. Other businesses close to this triple net lease property are Country Inns, La Quinta Inn, Holiday Inn Express, Stay Bridges Suites, Baymont Inn, Sleep Inn, Denny' s, Cracker Barrel Restaurant, Crystal Inn, Wells Fargo, Pizza Hut, and a fresh coffee from Starbucks. A Retail Shopping Center named the Valley Fair Mall is close with Anchor Tenants such as Macy's, JC Penney's, Cinemark Theater, Olive Garden and TGI Fridays. There are over 1,200 hotel rooms in the 8 hotels located near by the absolute NNN Investment Property with Tenant IHOP restaurant.
We offer single tenant, net leased properties to qualified buyers. "NNN" Triple Net Lease Properties located on primary thoroughfares in heavy retail corridors with excellent visibility make for fine investments. Also, NNN Properties with No Landlord responsibilities in a strong retail area with an above average household income and long term net leases are highly desirable. Net Lease Properties can be purchased individually or on a portfolio basis.
CONTACT US HERE for a solid recession resistant net lease investment. Also contact us to sell your existing Net Lease Properties portfolio.
When you are purchasing Commercial Real Estate or a "NNN" Triple Net Leased Property, you can apply for CTL Financing, Non Recourse Loans and Commercial Loans at Loanrise.com.