- For Sale $1,100,000
- Property Type Other
- Lot Size 0.27 Acre
- Date Updated May 15, 2026
Description
Hotel Development Project in Downtown Lehi
Price: $1.1 MM
Property Size: 0.27 acres (Commercially Zoned)
Development Plan: Fully approved 22-room boutique hotel ("Ember Hotel") with all city/county permits in place.
Key Highlights:
- Turnkey Opportunity: All groundwork, permits, and approvals completed by experienced developer.
- Strong Financials: Pro forma projections indicate an 8-10% cap rate (potentially higher with conservative room rate assumptions).
- Cost-Efficient: $65k per key vs. $100k+ average for upper midscale boutique hotels in high-traffic Western U.S. markets.
- Flexibility: Property can be repurposed for multi-family housing (buyer responsible for new permits/approvals).
- Financing: Development/construction loan approvals secured from three lenders.
Seller’s Position:
Experienced developer seeks to reduce workload and is not under pressure to sell. Full property purchase scheduled for October 1, 2025.
Included Documentation:
- Property architecture approvals
- Listing agreement and additional materials available upon request
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Contacts
Lance Allred
Location
Located at 26 E Main St, Lehi, UT 84043, this property is part of the Mill View - Vibbert Farms neighborhood and Salt Lake City market.
Contact Listing Broker
Lance Allred
