For Sale
$5,680,000

11078 State St Sandy, UT 84070

High-Yield, 5-Tenant Strip Mall

Overview

Added:
Dec 11, 2024
Days on market:
135
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

FAQs

What type of property is this?
Neighborhood center - High-Yield, 5-Tenant Strip Mall
Where is the neighborhood center located?
The property is located at 11078 State St Sandy, UT.
What is the asking price?
The asking price for this property is $5,680,000.
What are key features of this property?
This property features: Long-term leases with built-in annual rent increases.; All tenants provide sales reporting.; Brand-new, 2023 build-to-suit construction.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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11078 State St
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