For Sale
$13,750,000

3061 5600West Valley City, UT 84120

West Valley City, UT: 8-Tenant Retail Center

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 49,575 square foot shopping center in West Valley City, Utah, presents a compelling investment opportunity. Boasting a 100% occupancy rate and a strong 6.32% cap rate, the property features eight tenants, including prominent national brands like Starbucks, PetSmart, and Michaels. Two single-story buildings comprise this stabilized, NNN-leased center, offering corporate guarantees for added security. The property benefits from consistent net operating income (NOI) exceeding $868,388 since 2005, further enhanced by a recent $400,000 Starbucks remodel. An attractive feature is the assumable loan of approximately $5,000,000 at a 4.61% interest rate, subject to a one-point transfer fee and lender costs. The center's prime location, adjacent to the Mountain View Corridor Highway (Route 85), enjoys high traffic counts (approximately 150,000 ADT on 5600 W and 120,400 ADT on 3100 S & Brud Dr.), and benefits from a strong demographic profile with numerous nearby schools. Developed in 2005 and under the same ownership for approximately 18 years, this center demonstrates a history of success and significant upside potential. The property draws customers from a 25-mile radius, solidifying its position as a retail cornerstone in a thriving community. The pro-forma NOI is $853,427 and the pro-forma cap rate is 6.21%. The asking price is $13,750,000, resulting in a price per square foot of $277.36.

Highlights

  • 100% leased, historically 99%+ occupancy.
  • Anchored by Kohl's, Ross, and Burlington Coat Factory; numerous national tenants. Conservative rents with upside potential.
  • Strong, consistent NOI since 2005; developed in 2005, under current ownership for ~18 years. Starbucks recently completed a $400,000 remodel.
  • Assumable 4.61% loan (~$5,000,000); 1-point transfer fee plus lender costs. Lender is a life insurance company.
  • High traffic counts (approx. 150,000 ADT on 5600 W and 120,400 ADT on 3100 S & Brud Dr.), strong growth over 18 years. High-growth community, adjacent to Mountain View Corridor Highway (Route 85).
  • Strong demographics: five schools within one mile, nine within three miles (primarily elementary). Draws customers from a 25-mile radius.

Property Details for 3061 5600

Property type
Lifestyle centers, Power centers
Square Feet
49,575 SF
Buildings
2
Stories
1

Location Insight

City
West Valley City
County
Salt Lake
State
Utah
Latitude
40.7050418
Longitude
-112.0221136
3061 5600, West Valley City, Utah

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3061 5600
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