2085 450Pleasant Grove, UT 84062

Property Details for 2085 450

Year built

2024

Property type

Retail properties

Property subtype

Lifestyle centers

Description

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.

Location Insight

City

Pleasant Grove

County

Utah

State

Utah

Latitude

40.3583

Longitude

-111.768

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