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Verizon Wireless Investment Opportunity 499 S Main St

2,073 SF Retail Building Richfield, UT 84701 $475,000 ($229/SF) 8.81% Cap Rate

Investment Highlights

  • 100% OCCUPIED BY NATIONALLY RECOGNIZED TENANT
  • GREAT VISIBILITY & ACCESSIBILITY
  • PRIME LOCATION
  • CORPORATELY GUARANTEED
  • MINIMAL WIRELESS COMPETITORS IN THE AREA

Executive Summary

100% OCCUPIED BY NATIONALLY RECOGNIZED TENANT Verizon Wireless is the second-largest wireless telecommunications provider in the United States and in 2019 became the first company in the world to offer customers 5G-enabled
smartphones connected to a 5G network.
CORPORATELY GUARANTEED Russell Cellular, Inc. is an exclusive Verizon Authorized Retailer specializing in wireless
communication services for the past 25+ years. From very humble beginnings, Russell Cellular has grown to become a nationwide leader in the wireless industry. Russell Cellular is a Verizon Authorized Retailer and “Big 6” agent, with 800+ locations across 43 states, and 2,600+ team members.
GREAT VISIBILITY & ACCESSIBILITY Located directly on Highway 120 which is the main thoroughfare through Richfield, UT. The
property is only 4 minutes away from the Interstate-70, Richfield exit. Salt Lake City, UT. is less than 2 ½ hours from the property.
MINIMAL WIRELESS COMPETITORS IN THE AREA Russell Cellular is one of only two (2) cell phone retailers in the entire city of Richfield, UT. The next closest authorized Verizon retailer is over 54 miles away in Ephraim, UT making this location top 5% producing Russell Cellular locations.
PRIME LOCATION Richfield has developed as a regional tourist center because it is located on the interstate freeway about halfway between Los Angeles, California and Denver, Colorado, attracting many automobile travelers who stop at the city. It is also on the thoroughfare to several nearby national parks and national forests.

Data Room Click Here to Access

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Building Size
2,073 SF
Building Class
C
Year Built
1974
Price
$475,000
Price Per SF
$229
Cap Rate
8.81%
NOI
$41,868
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Land Acres
0.58 AC
Parking
22 Spaces (10 Spaces per 1,000 SF Leased)

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
1-15-14
Land Assessment
$116,066
Improvements Assessment
$154,350
Total Assessment
$270,416
  • Listing ID: 18114129

  • Date on Market: 1/7/2020

  • Last Updated:

  • Address: 499 S Main St, Richfield, UT 84701

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