84 S 100 W

About this lot

This lot for sale at 84 S 100 W Vernal, UT 84078 has been listed at $900,000.

Full description

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.

Property highlights

• The proposed development consists of 18 residential condominiums and 5 street-front commercial suites designed to accommodate retail, or professional service users. .
• 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. .
• Situated on 0.55 acres with room to grow.

Property details

Property Type

Land

Sub-type

Commercial

Status

Active

Days on Market

0

Stories

0

Lot Size

0.55 acres

Parking Total

0.00

County

Uintah

City

Vernal

Subdivision

VERNAL CITY PLAT A

Zoning

Multi-Family, Commercial

Tax Annual

$1

Preferred Financing

Cash,Commercial Fin. Req.,Conventional

Parcel #

05:026:0014

MLS Area

Vernal; Naples; Jensen

Listed By

Evolve Real Estate & Management LLC

Garage & parking

Parking total

0.00

Covered spaces

0.00

Land description

• Corner Lot

Utilities

• Natural Gas Available
• Electricity Available
• Power: Not Connected
• Sewer Available
• Gas: Stubbed
• Sewer: Stubbed

Additional features

Schools

Neighborhood

Located in VERNAL CITY PLAT A, Vernal.

Walk · Transit · Bike

Walk 66 Somewhat Walkable Transit 0 Minimal Transit Bike 55 Bikeable

Some errands can be accomplished on foot. Minimal public transit available. It's convenient to bike for trips.

Price History

Location

Vernal, UT · approximate location