Prime Commercial Building for Sale in the Heart of Richfield's Downtown Discover an exceptional investment opportunity with this iconic corner lot commercial building, a landmark of Richfield's bustling downtown main street. Spanning three stories above grade, this meticulously updated property combines the charm of historical architecture with modern amenities, offering a unique blend of business and residential spaces. Key Features: Location: Situated on a prominent corner lot in Richfield's vibrant downtown area, this building offers high visibility and foot traffic, perfect for retail and dining establishments. Versatile Spaces: The ground floor boasts a dynamic mix of restaurant/retail and office spaces, designed to cater to a diverse clientele. The second-floor features 10 office spaces, accommodating a variety of professional services. The third-floor houses 4 residential apartment units, offering serene living spaces amidst the downtown hustle. Additional Income Potential: A leased rooftop to a telecommunication company provides a unique revenue stream. Moreover, a separate garage presents opportunities for additional rental income. High Occupancy: Currently 82% occupied, with a steady flow of prospective tenants, ensuring a continuous revenue stream. Updates and Improvements: Fully renovated to meet contemporary standards, including new electrical and plumbing systems, cosmetic enhancements, and a roof under 5 years old, ensuring low maintenance and operational costs. This property is not just a building but a piece of Richfield's history, now reimagined for modern use. Its strategic location, combined with the mix of commercial, office, and residential spaces, makes it an attractive hub for businesses and residents alike. The current high occupancy rate and ongoing interest from potential tenants speak volumes about its desirability and investment potential. Seize the opportunity to own a cornerstone of Richfield's community, a building that epitomizes the blend of tradition and progress. Whether you're expanding your real estate portfolio or looking for a standout location for your business, this commercial building offers an unparalleled opportunity to invest in a vibrant and growing downtown district. Don't miss out on this unique investment opportunity. Contact us today to schedule a viewing and explore the potential of this exceptional property.

Property Features

Lot Dimensions

• Frontage Facing: W

Power

• 2

Property / Building Info

• Acres: 0.12

Investment

• Net Operating Income (NOI): $94,893
• Expenses: $32,436
• Cap Rate (NOI/Price): 8.1 %

Office Features

• Total Building Sq Ft: 13,770
• # of Suites Available: 17
• Number of Floors: 3

• Other: Elevator; Restrooms

Features Include

• Accessibility: Elevator: Passenger
• Air Conditioning: Central Air; Electric
• Water: Connected
• Visibility: Road Traffic; Walk-In Traffic
• Equipment: Underground Storage; Walk-In Refrigerator
• Floors: Carpet; Tile; Vinyl (LVP)
• Exterior: Paved Parking; Warehouse
• Heating: Forced Air; Gas: Natural
• Inclusions: Furniture
• Interior: Alarm: Fire; Cold Storage; Dishwasher; Floor Drains; Kitchen; Laundry: Individual; Range/Oven; Refrigerator; Restroom: Private; Sprinkler System Fire
• Roads: Asphalt; Concrete; Curb& Gutter; More Than 1 Access; Road: Paved; Sidewalk
• Sewer: Connected; Public
• Land Condition: Corner Lot; Curb & Gutter; Landscaping: Full; Paved; Terrain: Flat; View: Mountain; View: Valley
• Roof: See Remarks
• Site: Tenant Occupied
• Zoning: Commercial
• Telcom: Fiber
• Terms: Cash; Conventional; Exchange; SBA
• Utilities: 120/208 V 3 Phase 4 Wire; Gas: Natural; Paid By Landlord
• Windows: Blinds; Shades

Buyer's Brokerage Compensation

2.5% - The listing broker's offer of compensation is made only to participants of UtahRealEstate.com.

Schools

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