Investment for Sale investment highlights Price: $3,280,000 7.90% Cap Rate Diverse tenant mix property information 18,765 SF office 7 Office Units Thanksgiving Point location Individual floors can be purchased
Property Information Summary Name Address Total Available SF 2440 W Maple Loop Drive 18,765 SF Age 2008 Property Description is located at Thanksgiving Point in the city of. Thanksgiving Point, accessible to South Salt Lake cities(draper, Sandy, Riverton) and Orem/Provo within 10 minutes, is a central location between Utah and Salt Lake Counties which makes it a desirable location for businesses looking to draw employees from both counties. Mountain Point Plaza was built in 2008 and was built to accommodate users as small as approximately 2,000 SF and up. The floor plan is efficient and flexible and can easily be converted to accommodate expansion unit to unit. The investment represents 18,765 SF of completed and leased office space to 7 different office Tenants. Surrounding buildings and amenities include Adobe s new headquarters, Thanksgiving Point gardens and golf course, XANGO s headquarters, Frontrunner Station (new Utah Mass transit train), the new NSA facility at the point of the mountain, restaurants (JCW s, Dell Taco, Subway, Popeye s Chicken, Thanksgiving Point). Mountain Point Office plaza is very easy to find and only seconds off of I-15. Designated parking is plentiful and easily handles current parking usage. The building design is professional yet simple and cost efficient. The building also has backup power generation. The Opportunity represents an incredible opportunity for an investor for several reasons. Thanksgiving Point is currently one of the hottest office locations in all of Utah. Because of the location there is a constant demand for office space coming from Salt Lake and Utah Counties. The lease rates and property expenses at Mountain Point are very competitive compared to surrounding office space which all but assures short vacancy periods if a space ever becomes available. Office investment opportunity in the area is rare because of the stability that Thanksgiving Point investment offers. Improvements Fully Completed Offices estimated annualized operating data current Scheduled Gross Income $278,264 Market Vacancy Reserve 7% Adjusted Gross Income $259,064 Expenses Net Net Operating Income $259,064 financial indicators (estimated) Price $3,280,000 Down Payment $1,148,000 Cap Rate 7.90% Net Operating Income $259,064 New Loan $2,132,000 (65% LTV) Rate / Term 5% / 25 years Debt Service $149,562 Pre-tax Cash Flow $109,502 Cash on Cash Return 9.54%
SITE PLAN 150 parking stalls, including 5 handicapped stalls N
FLOOR PLANS LEASED - Suite 102 Hanson, Black, Anderson LEASED - Suite 103 LEASED - Suite 101 MAIN LEVEL Property Management Inc. LEASED - Suite 104 Formax SOLD - Suite 202 2Gig LEASED - Suite 203 Avalanch PayPros LEASED - Suite 201 2 ND LEVEL LEASED - Suite 204 LEASED -Suite 301 LEASED - Suite 303 Optimal Performance LEASED - Suite 302 3 rd LEVEL Point Home Security LEASED - Suite 304 N
Mountain Point Office Pl a za Roll over sites for more information Site 2011 Average Daily Traffic (ADT) courtesy of Utah Department of Transportation. S p e n c e r C r o s h a w 8 0 1.6 6 9.5140