For Sale
$5,680,000

11078 State StSandy, UT 84070

High-Yield, 5-Tenant Strip Mall

Overview

Added:
Dec 11, 2024
Days on market:
115
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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11078 State St
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