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1135 West 6800 South

Spanish Fork UT 84660

27007.2 sq. ft.
Other
Currently for sale - view listing

Overview

This is an old barn that used to be a vegetable processing plant and, later, a literal pottery barn - as in, a barn that people made pottery in. The land is currently zoned for agricultural storage. What is "agricultural storage"? It's a little vague. The present use is for business and construction storage as well as a spot for vehicles and farm equipment *not* in working order. There are two reasons to buy this property: REASON ONE: This property is located in Spanish Fork's Proposed High-Density West-Side Development and appears to be in the proposed High Density or Urban Density zone.This is a very exciting zoning change proposal. Please see attached property details PDF. Square footage per county. Buyer/Buyer's Broker to verify all info. REASON TWO: The property is currently rented WELL BELOW market at $3,100/mo triple-net lease with rent escalators (5.3 % cap rate). The lease goes through Oct 2026. The lease rate was negotiated at this amount in order to promote tenant-funded property improvements through the duration of the lease. The tenant has made roofing and waterproofing repairs, which has improved the condition of the property. There are still some improvements that could be performed at the exterior siding and windows to improve the building's condition; however, the property is in a safe, usable condition. The current lease rate is at $0.49/s.f. whereas the average current warehouse lease rates are at $0.71/s.f..

Features

27007.2 sq. ft. lot size
Other

Happy sellers in Spanish Fork

95%
95% of sellers in Spanish Fork reported that their sale price either exceeded or met their price expectations.

Spanish Fork stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 4 reviews in Spanish Fork over the last 12 months.

Local market activity for other properties in Spanish Fork

In the last 12 months, 56 other properties similar to 1135 West 6800 South, have been sold.

This represents a 14% decrease in other properties sales when compared to the previous 12 months.

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