For Sale
$5,575,000

4638 County Blvd Pleasant Grove, UT 84062

High-yield retail portfolio, 6.25% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
134
This exceptional investment opportunity presents a multi-tenant retail property located at 4638 N County Blvd, Pleasant Grove, UT 84062. The property consists of three single-story buildings totaling 8,952 square feet, built in 2024, and currently boasting 100% occupancy across five units. Each unit benefits from a 3% annual rent increase built into the leases. The property features a strong Net Lease (NNN) structure with a remaining lease term of 10 years, generating a current Net Operating Income (NOI) of $344,537 and a pro-forma NOI of $344,537. The asking price is $5,575,000, representing a compelling $622.77 per square foot and a 6.25% cap rate (6.18% pro-forma). The property is zoned for commercial use and enjoys a highly desirable location, situated on a hard corner intersection with a new road under construction, providing immediate access to I-15. This affluent area experiences high demand for food, health, wellness, and family-friendly businesses, further enhanced by its central location between two 6A high schools. The property's strong tenant base and strategic location make it an ideal investment for those seeking a stable, high-yielding asset with significant growth potential. The APN numbers are #34:751:0001, #34:751:0002, and #34:751:0003.

Highlights

  • $5,575,000 asking price for this Class A, multi-tenant retail property.
  • Net lease investment with a 6.25% cap rate and a pro-forma cap rate of 6.18%.
  • 8,952 square feet, 100% occupied, with five units across three buildings.
  • Ten-year lease remaining with 3% annual rent bumps.
  • Located at 4638 N County Blvd, Pleasant Grove, UT 84062, offering immediate I-15 access and a hard corner location.

Property Details for 4638 County Blvd

Property type
Retail properties, NNN properties
Square Feet
8,952 SF
Class
A
Year Built
2024
Buildings
3
Stories
1
Units
5

Location Insight

City
Pleasant Grove
County
Utah
State
Utah
Latitude
40.358239327277
Longitude
-111.76821594682

FAQs

What type of property is this?
Retail property - High-yield retail portfolio, 6.25% cap rate.
Where is the retail property located?
The property is located at 4638 County Blvd Pleasant Grove, UT.
What is the asking price?
The asking price for this property is $5,575,000.
What are key features of this property?
This property features: $5,575,000 asking price for this Class A, multi-tenant retail property.; Net lease investment with a 6.25% cap rate and a pro-forma cap rate of 6.18%.; 8,952 square feet, 100% occupied, with five units across three buildings.
How can I contact the broker?
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4638 County Blvd
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