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636 S 300 W - Premium Multifamily Development Site

0.69 Acres of Commercial Land Offered at $4,057,614 in Salt Lake City, UT 84101

Investment Highlights

  • Strong area demographics, with average household income for 2022 at $89,140 within a 3-mile radius.
  • Unrivaled access and location.
  • Well positioned within an opportunity zone with desirable D-2 zoning.

Executive Summary

This offering provides the opportunity to acquire a premium multifamily development site located at 636 South 300 West. This 0.69-acre site is perfectly positioned between Downtown and the Granary District, the two most urban and walkable submarkets in the valley,
and features convenient freeway access, flexible zoning, and direct proximity to multiple full block mixed-use projects that will act as anchors and catalysts for the neighborhood.

Attachments

636s300w

Property Facts

Price $4,057,614
Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Multifamily
  • Apartment Units
Total Lot Size 0.69 AC
Tenancy Single
Opportunity Zone Yes

1 Lot Available

Lot 1

Price $4,057,614
Price Per AC $5,880,600
Lot Size 0.69 AC

0.69 acres of previously-developed land.

Description

The focus and vision for the Granary District stems around creating “sense of place” where residents can live, work, and play. The Salt Lake City legislature and developers are in the process of creating a highly-walkable, arts-driven district with an urban village feel by incorporating new development in with creative adaptive reuse concepts utilizing the charm and character of the existing vintage warehouse buildings. New development and adaptive reuse concepts in the district are reaching the market at rapid pace, delivering architecturally stunning designs that are attracting some of the city’s most exciting businesses. Situated in a rare D-2 (Downtown Support District) zone, this development site allows for building heights of 65 feet as of right and up to 120 feet through the design review process. This flexible zoning provides developers flexible optionality around construction type, design, and activation of roof for an incredible amenity deck. In addition to desirable zoning, the site is situated in an Opportunity Zone. The southern boundary of downtown Salt Lake City has steadily moved south as the city continues to expand its urban core. The 600 South corridor has seen several sizeable projects deliver over the past few years. Located less than one block north of the site is Post District, a full block, mixed-use project that features not only apartment units but local favorite restaurants and breweries, the SLC Traeger Grill office headquarters, and fully leased creative office space. Two blocks to the east is 650 Main, a new ten-story, 327,000 SF class A office building that boasts beautiful architecture and design and helps round out the neighborhood as a true live, work, play destination. Other notable area developments include Industry SLC, Fleet Block, and a new state-of-the-art hospital. This site features incredible access to Salt Lake City’s major transportation corridors and expressways. Access to I-15, Utah’s main north and south freeway, is located within a 2-minute drive of the site, with the primary on ramp located on 500 south and the primary off-ramp into the city on 600 south. Due to the immediate freeway accessibility, the Salt Lake City International Airport is located within a 9-minute drive of the site.

Walk Score ®
Very Walkable (75)
Bike Score ®
Very Bikeable (81)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
15-01-454-014-0000
Land Assessment
$3,102,300
Improvements Assessment
$38,800
Total Assessment
$3,141,100

zoning

Zoning Code D-2 (Downtown Support District)
D-2 (Downtown Support District)
  • Listing ID: 28980188

  • Date on Market: 7/12/2023

  • Last Updated:

  • Address: 636 S 300 W, Salt Lake City, UT 84101

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