JUST LISTED: Firewood Restaurant Main Street Park City, UT | Veteran Tenant of 30 Years | ST Abs NNN Lease - 2% Annuals
306 Main Street
Park City, UT 84060
FOR SALE NNN Property
Last Verified:Oct 15, 2021
Incredibly rare “Main Street” single-tenant Park City, Utah investment opportunity. The building is leased to Firewood Restaurant, with long-time, Utah-based executive chef John Murcko as tenant, having over 30 years of experience. • This investment offering consists of an absolute triple-net lease with over Five (5) years remaining in the initial term, 2% annual increases, and Two (2), Five (5) year tenant renewal options. • Firewood is located at the top of Main Street in a historic building built in 1901 and recently improved in 2016. • Exceptional demographics in a five-mile radius, with an average household income of ±$169,382 and estimated annual population growth rate of 2.65% over the next five years (Source: Esri). • The Property is located in Park City, Utah, a world-class resort destination and host to global events such as the 2002 Winter Olympics and the Sundance Film Festival. Park City draws in ±4,006,071 annual visitors on average • (Source: parkcityinformation.org). • Park City has ±426 downhill ski trails across ±9,326 acres of land. Park City Mountain is the largest ski resort in the United States and is owned by Vail, while Deer Valley is one of the country’s most popular luxury mountain resorts and owned by Altera (Source: visitutah.com). • The Park City area’s luxury scene significantly evolved in recent years when four major players in the industry opened: Stein Erickson, Waldorf Astoria Park City, St. Regis Deer Valley and the Montage at Deer Valley (Source: visitutah.com).