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About the Listing 71386 - 4021690
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.
Listing Highlights
Status
Active
Days on Site
4
Property Type
Vacant Land
MLS ®
2160812
Year Built
Total Square Footage
0
Lot/Acreage
0.55
County
Uintah
Neighborhood
Vernal City Plat A
School District
Uintah
Elementary School
Ashley
Middle School
Vernal Middle
High School
Uintah
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
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- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: Corner Lot
- Garage Capacity: N/A
- Parking Spaces: 0
- Lot Dimensions: 0.0x0.0x0.0
- Zoning: MX
- Roof:
- Others:
- Sewer: Sewer: Available
Financial Details
- Tax Amount: $1
- Taxes w/Assessments: N/A
- Tax/Property ID: 05:026:0014
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Questions About..
84 S 100 W Vernal, UT 84078
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