Exceptional investment opportunity in Sandy, Utah's thriving retail market. This brand-new, 8,434 square foot, 100% occupied strip center boasts five tenants on long-term leases with built-in annual rent increases. The property, constructed in 2023, features a diverse tenant mix including Roxberry, NuSpine Chiropractic, Yonutz!, BODY20, and La Condesa. Located on a 1.478-acre lot at 11078 S State St, 84070, this prime location benefits from its adjacency to major retailers like Costco and Scheels, and is surrounded by a strong residential demographic with an average household income exceeding $131,000 within a five-mile radius. The property's Net Operating Income (NOI) is $340,793, yielding a 6.00% cap rate, and the asking price is $5,680,000. All tenants provide sales reports, ensuring strong financial performance and replaceable market rents. This is a rare opportunity to acquire a high-performing, newly constructed retail center in one of Utah's fastest-growing suburbs. The Schoolyard development, of which this building is a part, comprises over 30,000 square feet of retail space, further solidifying its position as a premier retail destination. This investment offers long-term stability and significant upside potential.
Highlights
Long-term leases with built-in annual rent increases.
All tenants provide sales reporting.
Brand-new, 2023 build-to-suit construction.
Market-rate rents.
100% occupied, 30,000+ SF retail center in Sandy's premier Schoolyard development.
Strong national tenant mix including Shake Shack and V-E-G.
Property Details
for 11078 State St
Property type
Neighborhood centers, Retail properties
Square Feet
8,434 SF
Year Built
2023
Buildings
1
Lot Size (sq. ft)
64,382 SF
Units
5
Location Insight
City
Sandy
County
Salt Lake
State
Utah
Latitude
40.55026873406
Longitude
-111.89096608678
11078 State St, Sandy, Utah
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Contacts
John Andreini
Kirby Dederian
Visit Broker Website
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11078 State St, Sandy, Utah, 84070
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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11078 State St
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