4415 Tree Sparrow DrRiverton, UT 84096

Property Details for 4415 Tree Sparrow Dr

Year built

2023

Lot size

0.35 AC

Property size (Sq ft)

3,529 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a brand-new, single-tenant Shake Shack located in the thriving Mountain View Village, Riverton, Utah. The property boasts a 3,529 square foot building on a 0.35-acre lot, constructed in 2023. It features a drive-thru and benefits from a 10-year absolute NNN ground lease with a 5% cap rate and a strong NOI of $235,094. The lease includes percentage rent and 10% rent increases every five years. This Class A property enjoys 100% occupancy and is situated within a rapidly expanding mixed-use development, surrounded by numerous national retailers and a high-density residential area. The location offers excellent visibility and accessibility, with high traffic counts exceeding 47,827 vehicles per day on 13400 South and projected future traffic of 165,000 VPD on the Mountain View Corridor. The surrounding area demonstrates impressive demographics, with approximately 199,462 residents within a 5-mile radius and an average household income exceeding $142,301. The property's strategic location within a master-planned development, coupled with the strength of the Shake Shack brand and the favorable lease terms, makes this a compelling investment opportunity with significant long-term potential. The property's APN is 273-137-600-500-00 and is zoned for commercial use. The asking price is $4,700,000.

Location Insight

City

Riverton

County

Salt Lake

State

Utah

Latitude

40.5082

Longitude

-111.996

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