For Sale
$5,520,000

2085 450Pleasant Grove, UT 84062

Five-Tenant Retail Center, NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional Class A retail property, Alexis Retail Plaza Building #2, presents a compelling investment opportunity in the rapidly growing Pleasant Grove, Utah market. The 8,592 square foot building boasts five tenants—Crumbl, Red Fuego, Misti Sushi, Go Glow, and XX Nails—under a multi-tenant, Net Lease agreement with a remaining term of five years, expiring December 31, 2029. Each lease includes a 3% annual rent bump, ensuring consistent income growth. The property enjoys 100% occupancy and a strong Net Operating Income (NOI) of $344,537. Built in 2024, the building is situated at 2085 W 450 S, Pleasant Grove, UT 84062, on a key arterial road with high traffic visibility. The property benefits from the explosive demographic growth projected for Pleasant Grove, with a high median household income exceeding $91,322 and a homeownership rate over 67%. Its strategic location near major commercial centers, schools, and residential areas further enhances its desirability. The surrounding area includes significant new development, adding to the long-term value of this investment. The property's APN is 34:768:0001 and is zoned for commercial sales. This is a rare opportunity to acquire a high-performing, multi-tenant retail center in a thriving market with significant upside potential. The asking price is $5,520,000.

Highlights

  • Class A retail property, 8,592 SF, 100% occupied, five tenants (Crumbl, Red Fuego, Misti Sushi, Go Glow, XX Nails).
  • Five-year lease term expiring December 31, 2029, with 3% annual rent increases.
  • Strong NOI of $344,537.
  • Located on a high-traffic arterial road in Pleasant Grove, UT, with excellent visibility.
  • Situated in a rapidly growing area with high median household income ($91,322+) and high homeownership rate (67%+).

Property Details for 2085 450

Property type
Lifestyle centers, Power centers
Class
A
Year Built
2024
Buildings
1
Units
5

Location Insight

City
Pleasant Grove
County
Utah
State
Utah
Latitude
40.358339183396
Longitude
-111.76824387582
2085 450, Pleasant Grove, Utah

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2085 450
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