Single-Tenant Retail
11376 S State St, Sandy, UT 84070
For Sale
$4,950,000
Duluth Trading location with State Street exposure, I-15 access, and a long-term ground lease structure.
Property Size15,602 SF
Days on Market50
Property Features for 11376 S State St
General Information
Standard status
Size
Property subtype
Additional Details
Highway Access
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
NAI Excel
Listed By:
Wes Davis · License UT 5502820-SA00
(435) 627-5705
Source:
Naiglobal
Added: Sep 22
Last Checked: Nov 10 at 7:42AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Excel
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Investment Insights
Based on property information with market context.
This single-tenant retail storefront was built in 2019 and is occupied by Duluth Trading as a corporate location. The property is offered as a leasehold interest supported by a ground lease with approximately 33+ years remaining. The initial lease term has approximately 8+ years remaining, with contractual rent increases of 10% every five years.
The property fronts State Street in Sandy and sits immediately adjacent to SCHEELS. It also benefits from convenient access to I-15 and is positioned within a retail trade area surrounded by national retailers and established demand generators.
The lease structure, remaining term, and scheduled rent adjustments provide a defined framework for the existing retail tenancy.
The property fronts State Street in Sandy and sits immediately adjacent to SCHEELS. It also benefits from convenient access to I-15 and is positioned within a retail trade area surrounded by national retailers and established demand generators.
The lease structure, remaining term, and scheduled rent adjustments provide a defined framework for the existing retail tenancy.
Key Highlights
- Single‑tenant Duluth Trading corporate retail location
- Built in 2019 with approximately 33+ years remaining on the ground lease
- Approximately 8+ years remaining on the initial lease term
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$233,670
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,673,400
$4.7M
Cap Rate 7%
$3,338,143
$3.3M
Cap Rate 9%
$2,596,333
$2.6M
Market Conditions
NOI Build-Up for 15,602 SF
Gross rent
$342.6K $21.96/SF
− Vacancy
−$8.8K −$0.56/SF
EGI
$333.8K $21.40/SF
− OpEx
−$100.1K −$6.42/SF
NOI
$233.7K $14.98/SF
Area
Salt Lake County, UT
Vacancy
2.57%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,673,400
Cap Rate 7%
$3,338,143
Cap Rate 9%
$2,596,333
Alternative Uses
Best Use
Retail
$3.34M
$2.92M – $3.89M
NOI $233,670 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.20M
$3.68M – $4.90M
NOI $294,238 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
944
Businesses Nearby
769k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 27%
Superstores 18%
Shops & Services 18%
Dining 17%
Scheels
Apparel
192,442 visits/mo
0.1 miles
Costco Wholesale
Superstores
140,600 visits/mo
0.4 miles
Trader Joe's
Groceries
53,508 visits/mo
0.2 miles
Costco Gasoline
Shops & Services
52,636 visits/mo
0.3 miles
The Home Depot
Home Improvements & Furnishings
43,932 visits/mo
0.2 miles
Demographics for 84070, UT
30,885
Population
12,212
Households
2.5
Avg Household Size
34
Median Age
36%
College-Educated
93%
High-School Grad
7.3 sq mi
ZIP Area
4,231
Density / Sq Mi
$79,414
Median Household Income
$44,013
Median Earnings
$1,578
Median Rent
$429,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Storefront properties in Salt Lake County, UT
Properties on Market for Storefront properties in Salt Lake County
Vacancy Rate% for Retail in West region
Similar Off Market Nearby
- Wild Forever Flowers — 11560 State St, Draper, UT 84020
- Sam's Club Floral — 11278 S Jordan Gateway, South Jordan, UT 84095
Frequently Asked Questions
What type of property is this?
Storefront property - Duluth Trading location with State Street exposure, I-15 access, and a long-term ground lease structure.
Where is this storefront property located?
The property is located at 11376 S State St Sandy, UT.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Single‑tenant Duluth Trading corporate retail location; Built in 2019 with approximately 33+ years remaining on the ground lease; Approximately 8+ years remaining on the initial lease term
