• Property Name/Tenant: Liahona Preparatory Academy
• Address: 2464 W 450 S, Pleasant Grove, UT 84062
• Property Type: Specialty
• Property Subtype: School
• Total Building Size: Approximately 11,915 SF
• Lot Size: Approximately 3.00 Acres (also listed as 2.999 Acres)
• Year Built: 2008

Liahona Preparatory Academy is a K-12 LDS based private Christian school located in Pleasant Grove, Utah. The school was founded in 1998 and moved into a new facility on the current site in 2007. The school did a sale leaseback of their campus in 2018. The building was expanded to its current 24,000 SF facility in 2021.

The school has an on-campus student body of 260. It has a nationally acclaimed theatre program and carries the following rankings by NICHE: #1 Best College Prep Private School in Utah County; #1 Best Christian High School in Utah; #1 Best Christian High School in Utah County; and #1 Best Christian High School in the Salt Lake City Area

Liahona began as an in-home education service, sending VHS tapes of a week’s worth of classes to parents who home schooled their children. This practice has evolved into the current fully interactive distance education platform that serves an additional 300 students. The Liahona DE program is regularly ranked by TheBestSchools.org in the top 50 nationally as a Best Online High School Diploma Program.

The three acres of real estate and 24,000 SF facility are located in the heart of Utah’s dynamic Silicon Slopes. The campus is surrounded by some of Utah’s most successful companies. There are 17 years left on the absolute NNN lease that has 10% increases every five years.

• Offering Type: 2.8% Tenant-In-Common (TIC) Interest
• Price: $290,000
• Sale Type: Investment
• Cap Rate: 5.70%
• Lease Type: NNN (Triple Net) – Tenant responsible for taxes, insurance, and maintenance.