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GARDEN SQUARE 7200 South State Street, Midvale, Utah 84047

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GARDEN SQUARE 7200 South State Street, Midvale, Utah 84047 GARDEN SQUARE 7200 South State Street, Midvale, Utah 84047 th u o S 0 0 2 77200 South SState Street ta te S tre et PROPERTY FEATURES FOR • In Place NOI - $638,645 • $115 PSF (Well Below Replacement Cost) sale • Prime Retail Location in the Heart of Salt Lake Valley • Great Access to I-15 and I-215 $8,400,000 IN PLACE CAP 7.60% • 73,245 Total Square Feet FOR MORE BRYCE BLANCHARD CHRIS HATCH INFORMATION 801.578.5534 801.930.6751 CONTACT [email protected] [email protected] 376 East 400 South, Suite 120 1686 South Major Street, Suite 200 Salt Lake City, Utah 84111 Salt Lake City, Utah 84115 www.ngacres.com www.legendllp.com This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through this offi ce. The above information while not guaranteed has been secured from sources we believe to be reliable. GARDEN SQUARE 7200 South State Street, Midvale, Utah 84047 RENT ROLL AS OF 11/01/2017 TENANT ADDRESS SF $ PSF MONTHLY ANNUAL LEASE TYPE LED ESCALATIONS COMMENTS VACANT 25 3,168 $- $- $- NNN Girlfriends Beauty/Lashbomb 47-210 & 221 2,472 $11.91 $2,454 $29,450 NNN 9/30/2018 -One 1 year option to renew at a 3% increase Shag-Rug-La 33A 3,105 $11.81 $3,056 $36,670 NNN 5/14/2018 3% annually -Two 3 year options to renew at 3% annual increases. -Tenant has right to terminate the lease after 5/2016 by giving LL 30 days written notice only if Tenant's gross sales for the prior 12 months are less than $1M. Termination penalty is 4 months of base rent. Liang Zang 33B 1,071 $12.36 $1,103 $13,238 NNN 3/31/2020 3% increase 4/2019 -One 2 year option to renew at 3% increase Current Vapor 43 - A&B 5,000 $14.00 $5,833 $70,000 NNN 10/31/2022 3% annually D. Christensen Construction 75 - D-1 3,450 $4.56 $1,311 $15,732 NNN 7/31/2020 (Warehouse Space) Studio 7200, LLC 43 - C&D 4,800 $10.30 $4,120 $49,440 NNN 6/30/2022 3% annually -One 3 year option to renew at Mutually Agreeable Terms Ardell Brown 75 - D-2 7,000 $3.65 $2,130 $25,560 NNN MTM VACANT 47 - 201 1,129 $- $- $- NNN VACANT 47 - 203 868 $- $- $- NNN Salon JUV 47 - 204 475 $11.75 $465 $5,584 NNN 12/31/2018 -One 2 year option to renew at a 3% increase Salt Lake Tattoo Company LLC 47 - 207 945 $16.64 $1,310 $15,722 NNN 9/30/2018 TWC / Korean BBQ 7157 5,301 $24.00 $10,600 $127,200 NNN 6/20/2028 10% Rent Bump in - 4 months of free rent upfront. Two 5 year options to Year 5 renew at 10% increase on rent MWM Partners (Mattress WH) 75 - B 16,976 $6.01 $8,500 $102,000 NNN 8/31/2021 4% Annual Increases -Two 5 year options to renew at 3% increases 9/1/18 and 9/1/19. 3% Increase on 9/1/20 Salt Lake Tattoo Company LLC 47 - 205&206 1,122 $13.20 $1,234 $14,807 NNN 8/31/2019 -One 2 year option to renew at 3% increases Girlfriends Beauty/Lashbomb 47 - 208 2,135 $10.82 $1,925 $23,103 NNN 8/31/2019 3% annually 9/1 -No Renewal Options OnzoneTravel 75A - I 914 $14.20 $1,082 $12,978 NNN 4/30/2019 -One 1 year option to renew at a 3% increase CC CNA LLC 75A - A-G 3,971 $12.04 $3,984 $47,802 NNN 7/31/2019 -One 2 year option to renew at 3% annual increases Various Tenants 48 Offi ce 102 - 172 6,873 $31.62 $18,113 $217,352 FS Mainly MTM -Rent shown is in place only Spaces (5 current Vacancies) Sandberg Sign & Design 75 - G 712 $8.43 $500 $6,005 NNN 1/31/2020 Sandberg Sign & Design 75 - A 1,758 $8.87 $1,300 $15,600 NNN 1/31/2020 TOTALS 73,245 $11.31 $69,020 $828,242 376 East 400 South, Suite 120 1686 South Major Street, Suite 200 Salt Lake City, Utah 84111 Salt Lake City, Utah 84115 www.ngacres.com www.legendllp.com This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through this offi ce. The above information while not guaranteed has been secured from sources we believe to be reliable. GARDEN SQUARE 7200 South State Street, Midvale, Utah 84047 y Ruth’s Floral a d / s r IN PLACE ANALYSIS a c 0 TOTALS ANNUAL 8 9 , 7 RENT INCOME $828,242 T 227,980 cars/day N R O E 2 O O R KKoreanorean T P Add: Reimbursement Revenue $147,318 772 T R SALONS A s A U BBBQBQ V VAPOR T TATTOO C CURRENT Less: 5% Management $(48,778) t e e r Less: Operating Expenses ($3.93 PSF) $(288,137) t S TOTAL NET OPERATING INCOME $638,645 e t a t SState Street VALUATION AAmericanmerican ExecutiveExecutive OOfffi ccee SSuitesuites Net Operating Income $638,645 Purchase Price $8,400,000 FFortort UUnionnion BBoulevardoulevard Cap Rate 7.60% 220,4600,460 cars/daycars/day Purchase Price PSF $114.68 376 East 400 South, Suite 120 1686 South Major Street, Suite 200 Salt Lake City, Utah 84111 Salt Lake City, Utah 84115 www.ngacres.com www.legendllp.com This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through this offi ce. The above information while not guaranteed has been secured from sources we believe to be reliable. GARDEN SQUARE 7200 South State Street, Midvale, Utah 84047 KOREAN BBQ KOREAN BBQ 376 East 400 South, Suite 120 1686 South Major Street, Suite 200 Salt Lake City, Utah 84111 Salt Lake City, Utah 84115 www.ngacres.com www.legendllp.com This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through this offi ce. The above information while not guaranteed has been secured from sources we believe to be reliable. GARDEN SQUARE 7200 South State Street, Midvale, Utah 84047 Steve Ogden’s Flooring & Design Money 4 You Cottonwood Street Street Sweet Ginger 27,980 cars/day cars/day 249,525 cars/day cars/day Ruth’s Floral Midvale Mining Company Restaurant Korean BBQ 15 EXIT 15 State Street Street #297 Fort Union Boulevard 20,460 cars/daycars/ 33,900 cars/daycars/day 7200 South Midvale Fort Union Station 238,075 cars/day cars/day Dollar & More HEADQUARTERS Tenochtitlan Market 30,960 cars/day cars/day Imagery ©2017 , DigitalGlobe, State of Utah, USDA Farm Service A 376 East 400 South, Suite 120 1686 South Major Street, Suite 200 Salt Lake City, Utah 84111 Salt Lake City, Utah 84115 www.ngacres.com www.legendllp.com This statement with the information it contains is given with the understanding that all negotiations relating to the purchase, renting or leasing of the property described above shall be conducted through this offi ce. The above information while not guaranteed has been secured from sources we believe to be reliable..
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