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84 South 100 West

Vernal UT 84078

23958 sq. ft.
Land
Currently for sale - view listing

Overview

Fully Entitled Mixed-Use Development. Vernal's First Urban-Style Condo Project. Rare opportunity to acquire a fully engineered, permit-ready mixed-use development in Vernal, Utah. Positioned as the first project of its kind in the market, the development has received substantial support and cooperation from the city and is expected to serve as a catalyst for continued downtown growth and activation. The proposed development consists of 18 residential condominiums and 5 street-front commercial suites designed to accommodate retail, or professional service users. The project has generated strong interest from prospective commercial tenants upon completion. Commercial NOI is projected at approximately $192,028 annually, including a 5% vacancy factor. Projected residential sellout is approximately $4,050,560. The neighboring city-funded and managed parking structure was developed with this project in mind and includes EV charging infrastructure, representing over $650,000 in public investment benefiting the site. The project includes eligibility for a $100,000 city facade improvement grant, further enhancing project value and streetscape appeal. All engineering plans are included in the sale, and negotiated construction pricing is available through the seller's proposed builder services. Seller is an experienced builder offering to complete the project for a 7.5% build fee, or buyers may elect to use their own contractor. Build appraisal available upon execution of NDA.

Features

23958 sq. ft. lot size
Land

Happy sellers in Vernal

84%
84% of sellers in Vernal reported that their sale price either exceeded or met their price expectations.

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

This is based on voluntary sentiment collected from 24 reviews in Vernal over the last 12 months.

Local market activity for land plots in Vernal

In the last 12 months, 22 land plots similar to 84 South 100 West, have been sold.

This represents a 42% decrease in land plots sales when compared to the previous 12 months.

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