Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    11020 State St Sandy, UT 84070

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $6,429,000

    Retail property with long-term leases in Sandy, Utah.

    Property size:
    8,170 SF
    Lot size:
    1.54 Acres

    Property Features for 11020 State St

    General Information

    Standard status
    Active
    Size
    8,170 SF
    Lot size
    1.54 Acres

    We can help!

    Listing Contact
    John Andreini
    John Andreini
    Source: Crexi

    Listing Agency: CP Partners Listing Agent: John Andreini

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Profitable Retail Investment Opportunity

    This property is a retail space located within The Schoolyard, a retail development spanning over 30,000 square feet in Sandy, Utah, part of the Salt Lake City Metropolitan Statistical Area. The property features a corporate Shake Shack lease extending through 2030, with two 5-year options for renewal. Additionally, it includes the Crescent Hall event space, leased through 2028, which incorporates annual rental increases of 2%. The property size is 8,170 square feet.
    Location Intelligence

    Current Use by Public Records

    Crescent Hall Event ... Wedding Service Shake Shack The School ... Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sandy
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.8913939
    Latitude
    40.5511639

    Nearby Similar for Sale

    • $4,999,825

      Versatile Industrial Building Near I-15

      Industrial building with warehouse and office space, near I-15.
      649 West 9400 South, Sandy, UT 84070
      View Details
    • $577,720

      Office Condominium Near I-215

      Office condominium for sale or lease, convenient highway access.
      8180 South East, Sandy, UT 84070
      View Details
    • $255,000
      1,075 SF

      Office Unit For Sale

      Office unit with 1,075 square feet of space.
      9137 Monroe St, Sandy, UT 84070
      View Details
    • Contact for pricing

      Updated Office Condos For Sale

      Updated office condos in a highly desirable area.
      9272 S 700 E, Sandy, UT 84070
      View Details
    • Contact for pricing

      Renovated Retail Center in Sandy

      Recently renovated retail center in affluent Salt Lake City submarket.
      11020-11078 S State St, Sandy, UT 84070
      View Details
    • $900,000
      4,209 SF

      Class A Office Space Available

      4,209 SF office space with high-end finishes for sale.
      7370-7390 S Creek Rd, Sandy, UT 84093
      View Details
    • Contact for pricing

      Riverside Drive Investment Opportunity

      Two-story mixed-use property with complete interior renovation and parking.
      9075 S Riverside Dr W, Sandy, UT 84070
      View Details
    • Contact for pricing
      11,697 SF

      Freestanding Building on 0.84 Acres

      Freestanding ±11,697 SF building on 0.84 acres for sale.
      3577 west 9800, Sandy, UT 84095
      View Details
    • Contact for pricing
      98,820 SF

      Sandy Utah Industrial Investment Opportunity

      Newly constructed Class A industrial facility near I-15 in Sandy.
      565 Parkland Dr, Sandy, UT 84070
      View Details
    • Contact for pricing
      4,100 SF

      Office Condo with Flexible Tenancy

      4,100 SF office condo with value-add potential.
      7410-7430 S Creek Rd, Sandy, UT 84093
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail property with long-term leases in Sandy, Utah.
    Where is this retail space located?
    The property is located at 11020 State St Sandy, UT.
    What is the asking price?
    The asking price for this property is $6,429,000.
    What are key features of this property?
    This property features: - Long-term corporate Shake Shack lease through 2030 with two 5-year options.; - Crescent Hall event space lease through 2028 with 2% annual rental increases.; - Located in The Schoolyard, a 30,000+ SF retail development.
    (415) 274-2715
    Request Owner's contact information
    11020 State St Sandy, UT 84070
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    11020 State St
    Sandy, UT 84070
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    11020 State St Sandy, UT 84070
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    John Andreini
    John Andreini
    Real Estate License ID: 01440360
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!