Building Details

Building Size 7,327 SF

Listing Agency: Newmark Mountain West

Listed By: Lance Pendleton · License #5594649-SA00 Show Phone

Source: Commercialcafe

Added: Mar 26 Changed: Oct 7 Last Checked: Oct 14 at 8:36PM

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Investment Insights

Based on property information with market context.

This is an opportunity to purchase a 100% occupied, two-tenant retail building located in Highland, Utah. The property is part of the Highland Mains Shopping Center, situated in an area with high-income demographics. The developer has plans to start a $45 million lifestyle retail center within Highland Mains, with spaces being delivered in Q3 2025. The property is 100% occupied by Burn Boot Camp and Treehouse Dental. Both tenants have signed long-term leases with multiple renewal options. The property is easily accessible from I-15, located just off SR-92 (Timpanogos Highway) about 5.5 miles from exit 284. 5300 West connects the property to Alpine from the north and American Fork from the south. Highland has experienced significant growth in recent years. The population of Highland has increased by nearly 30% since 2010 and is projected to grow by another 7% in the next five years, bringing the total population to over 20,000 people. The property size is 7327 square feet.

Key Highlights

• 100% Occupied with Long‑Term Leases, providing a stable income stream.
• Located in High‑Income Demographics of Highland, UT.
• Part of Highland Mains Shopping Center, benefitting from foot traffic.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$122,641

Cap Rate

3.97%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,452,820 $2.5M

Cap Rate 7%

$1,752,014 $1.8M

Cap Rate 9%

$1,362,678 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,327 SF

Gross rent

$182.9K $24.96/SF

− Vacancy

−$7.7K −$1.05/SF

EGI

$175.2K $23.91/SF

− OpEx

−$52.6K −$7.17/SF

NOI

$122.6K $16.74/SF

Area

Utah County, UT

Vacancy

4.20%

Lease Rate

$24.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,452,820

Cap Rate 7%

$1,752,014

Cap Rate 9%

$1,362,678

Alternative Uses

Best Use

Retail

$1.75M

$1.53M – $2.04M (±1% cap)

NOI $122,641 @ 7.0% cap · market cap 3.97%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.02M

$1.77M – $2.36M (±1% cap)

NOI $141,382 @ 7.0% cap · market cap 4.58%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Kevin Johnstun Dental Office Treehouse Dental Dental Office Burn Boot Camp Gym & Fitness Center Do Performance and Fitness Gym & Fitness Center

Suggested Use

Top Pick Real Estate Agency Restaurant Building Supply Law Firm Big Box & Wholesale Store Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

427

Businesses Nearby

70k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 44% Dining 35% Groceries 13% Electronics 7%

Chevron Shops & Services

14,004 visits/mo 0.1 miles

Wendy's Dining

10,179 visits/mo 0.2 miles

Meier's Groceries

8,897 visits/mo 0.2 miles

Quick Quack Car Wash Shops & Services

8,819 visits/mo 0.1 miles

T-Mobile Electronics

4,616 visits/mo 0.0 miles

Demographics for 84003, UT

52,970

Population

16,441

Households

3.2

Avg Household Size

29

Median Age

50%

College-Educated

96%

High-School Grad

73.6 sq mi

ZIP Area

720

Density / Sq Mi

$120,262

Median Household Income

$41,591

Median Earnings

$1,692

Median Rent

$580,600

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Shopping center - Fully occupied retail building in Highland Mains Shopping Center.

Where is this shopping center located?

The property is located at 11055 Alpine Hwy Highland, UT.

What is the asking price?

The asking price for this property is $3,085,667.

What are key features of this property?

This property features: 100% Occupied with Long‑Term Leases, providing a stable income stream.; Located in High‑Income Demographics of Highland, UT.; Part of Highland Mains Shopping Center, benefitting from foot traffic.