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Property Description

Prime opportunity to own a historic building on Spanish Fork Main St. The building is 10,413 SF, with 5,335 SF on the main/ground level and 5,078 SF in the basement. The building is for sale, not the business. The building is currently occupied 100% by MVP Sports, who has been a tenant in the building for 30+ years. This is fantastic opportunity to purchase the building as a hands off investment and renew the lease at a higher rate with a long term tenant or to prepare to occupy the building as owner occupied at the end of the tenant lease period. The tenant is currently paying $3,500 monthly base rent, plus taxes and insurance on top of that. Property Taxes 2022 approximately $4,520. Building Insurance 2022 approximately $1,300. Tenant is also paying all utilities on their own. Tenant lease expires on 12/31/2023. Tenant has desire to sign a new lease, and understands that their lease renewal will be a new market rate. Our estimation is that the base rent will increase to $5,500+ monthly.

Additional Information
Equity Real Estate (Results)
Bear Lake County
Bear Lake County
Bear Lake
Bear Lake County
Curb & Gutter,fenced: Full,road: Paved,sprinkler: Auto-full

Commercial Sale For sale

72 N MAIN, Spanish Fork, Utah 84660

0.15 Acre
Listing ID #1859772
Basic Details
Status : Active
Property Type : Commercial Sale
Property sub-type : Retail
Listing Type : For sale
Listing ID : 1859772
Price : $900,000
Year Built : 1930
Lot Area : 0.15 Acre
Country : US
State : UT
County : Utah
City : Spanish Fork
Zipcode : 84660
DOM : 124
CDOM : 4
Neighborhood : Spanish Fork
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