Grocery Retail Space with
For Sale
$793,000
1141 W State #3 St, Hurricane, UT 84737
Commercial Sale, Hurricane, UT
Property Size3,240 SF
Lot Size0.04 Acres
Price / SF$244.75
Days on Market95
Property Features for 1141 W State #3 St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Subdivision
Hurricane Valley
Standard status
Active
APN
H-GCP-1-3
Size
3,240 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
2823
Amenities
built-in coolers
ADA bathroom
rear entrance
storage areas
office
Building Details
Year built
2000
Floors in Building
2
Listing Agency:
COLDWELL BANKER PREMIER REALTY
(435) 628-6700
Listed By:
J TURD'L MILLER · License #10724213-SA
(435) 862-7148
Added: May 26
Changed: Aug 27
Last Checked: Aug 28 at 11:06PM
MLS# 26-272785
Copyright © 2026 Washington County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,240-square-foot retail property was built in 2000 and is currently leased within a downtown Hurricane shopping center. The main level includes retail and storage areas, two built-in coolers totaling 200 square feet, an ADA bathroom, and a rear entrance.
A finished basement adds a separate rear entrance, bathroom, office, and another built-in cooler measuring 200 square feet. The lower level could be converted into a separate unit and subleased. The property occupies 0.04 acres at 1141 W State, #3 St, Hurricane, Utah 84737.
A finished basement adds a separate rear entrance, bathroom, office, and another built-in cooler measuring 200 square feet. The lower level could be converted into a separate unit and subleased. The property occupies 0.04 acres at 1141 W State, #3 St, Hurricane, Utah 84737.
Key Highlights
- 3,240‑square‑foot retail property built in 2000
- Currently leased storefront in a downtown Hurricane shopping center
- Main level includes retail and storage areas plus two built‑in coolers totaling 200 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$62,455
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,249,100
$1.2M
Cap Rate 7%
$892,214
$892.2K
Cap Rate 9%
$693,944
$693.9K
Market Conditions
NOI Build-Up for 3,240 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$84.4K $26.04/SF
− Vacancy
−$1.1K −$0.34/SF
EGI
$83.3K $25.70/SF
− OpEx
−$20.8K −$6.43/SF
NOI
$62.5K $19.28/SF
Area
Washington County, UT
Vacancy
1.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,249,100
Cap Rate 7%
$892,214
Cap Rate 9%
$693,944
Alternative Uses
Best Use
Specialty Retail
$892.2K
$780.7K – $1.04M
NOI $62,455 @ 7.0% cap · market cap 7.88%
Second Best
Retail
$570.4K
$499.1K – $665.4K
NOI $39,926 @ 7.0% cap · market cap 5.03%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
377
Businesses Nearby
65k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 41%
Beauty & Spa 4%
Wendy's
Dining
14,529 visits/mo
0.1 miles
McDonald's
Dining
11,065 visits/mo
0.2 miles
7-Eleven
Shops & Services
10,020 visits/mo
0.1 miles
Mountain America Credit Union
Shops & Services
8,092 visits/mo
0.1 miles
Exxon
Shops & Services
8,059 visits/mo
0.1 miles
Demographics for 84737, UT
21,212
Population
9,320
Households
2.3
Avg Household Size
39
Median Age
26%
College-Educated
95%
High-School Grad
250.1 sq mi
ZIP Area
85
Density / Sq Mi
$70,417
Median Household Income
$31,315
Median Earnings
$1,239
Median Rent
$420,900
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Leased storefront in a downtown shopping center with retail, storage, cooler, office, and customer-service improvements.
Where is this grocery and convenience store located?
The property is located at 1141 W State #3 St Hurricane, UT.
What is the asking price?
The asking price for this property is $793,000.
What are key features of this property?
This property features: 3,240‑square‑foot retail property built in 2000; Currently leased storefront in a downtown Hurricane shopping center; Main level includes retail and storage areas plus two built‑in coolers totaling 200 square feet
