757 West North Temple Street

757 West North Temple Street, Salt Lake City, UT United States

Investment Property

For Sale

Land

757 West North Temple Street

757 West North Temple Street, Salt Lake City, UT United States

Lot Size

.35 Acres

Lot Size

.35 Acres

OVERVIEW

Cushman & Wakefield as exclusive advisor is pleased to present the opportunity to a covered land play development site (the “Site”, or “757 W North Temple”) situated in the heart of the North Temple corridor of Salt Lake City, Utah. The Site is situated under a mile east of The Larry H. Miller Company’s (LHM) Power District, a 100-acre multi-phase development, planned to include Rocky Mountain Power’s new state-of-the-art headquarters, apartments, retail outlets, and potential Major League Baseball (MLB) stadium. 757 W North Temple features 0.35-acre of future developable land with as-of-right zoning, direct proximity to major mixed-use developments along North Temple, and is strategically positioned just 5 minutes from Downtown Salt Lake City and 10 minutes from the new Salt Lake City International Airport. Presently, the Site features a single-tenant retail property leased to Jiffy Lube under a triple-net (NNN) lease, which is set to expire in February 2029 (See OM for more details).

CONTACT

Kip Paul

Vice Chair
Salt Lake City, United States

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Michael King

Director
Salt Lake City, United States

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Key Features

Desirable Zoning – Desirable and unique zoning of TSA-UNC allows up to 75’ of height (See OM for more details). In addition to the desirable zoning, 757 W North Temple is situated in an Opportunity Zone.
Transit-Oriented Location – Located in the heart of the North Temple Corridor, the Site has unrivaled access to both Downtown Salt Lake City and the newly built, $5.1 billion Salt Lake City International Airport within a 10-minute car or train ride. In addition, the 757 W North Temple is right next to I-80/I-15 split, the major east-west and north-south arteries connecting the Wasatch Front to the rest of Utah. The Site also features direct access to public transportation with the Jackson/Euclid TRAX station located steps away.
Strong Area Demographics – Although this submarket is currently in transition, the area still showcases strong demographics, with average household income for 2023 at $95,314 within a 5-mile radius. Average multifamily rents currently stand at $1,659/unit/month which translates to an attractive affordability ratio of 20.89%, providing a 19.6% discount from downtown rental rates which average $2,064/unit/month.

Details

Sale Price:: $1,905,750 USD
Lot Size:: .35 Acres

Kip Paul

Vice Chair
Salt Lake City, United States

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Michael King

Director
Salt Lake City, United States

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JT Redd

Director
Salt Lake City, United States

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757 West North Temple Street

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