Retail Space with Built-In
New
For Sale
$793,000
1141 W State St #3, Hurricane, UT 84737
Currently leased suite with finished lower level, rear access, storage, office space, and multiple bathrooms.
Property Size3,240 SF
Price / SF$244.75
Days on Market2
Property Features for 1141 W State St #3
General Information
Standard status
Active
Size
3,240 SF
Building Details
Year Built
2000
Listing Agency:
Coldwell Banker Premier Realty
Listed By:
Jared Turd'L Miller · License #10724213-SA00
(435) 628-6700
Source:
Buysalty
Added: Sep 16
Last Checked: Sep 16 at 2:54PM
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 Coldwell Banker Premier Realty
Investment Insights
Based on property information with market context.
This retail suite offers 3,240 square feet within a shopping center at 1141 W State St #3. The main level includes retail and storage areas, an ADA bathroom, a rear entrance, and two built-in coolers totaling 200 ft2. A fully finished basement adds a separate rear entrance, bathroom, office, and an additional built-in cooler measuring 200 ft2.
The property is currently leased and is located in downtown Hurricane. The lower level has a separate entrance and may be converted into an independent unit for sublease, subject to applicable requirements.
The property is currently leased and is located in downtown Hurricane. The lower level has a separate entrance and may be converted into an independent unit for sublease, subject to applicable requirements.
Key Highlights
- 3,240‑square‑foot retail space at 1141 W State St #3
- Currently leased retail suite in a downtown Hurricane shopping center
- Main level includes two built‑in coolers totaling 200 ft2
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
$39,926
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
5.03%
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%
$798,520
$798.5K
Cap Rate 7%
$570,371
$570.4K
Cap Rate 9%
$443,622
$443.6K
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
$58.3K $18.00/SF
− Vacancy
−$1.3K −$0.40/SF
EGI
$57.0K $17.60/SF
− OpEx
−$17.1K −$5.28/SF
NOI
$39.9K $12.32/SF
Area
Washington County, UT
Vacancy
2.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$798,520
Cap Rate 7%
$570,371
Cap Rate 9%
$443,622
Alternative Uses
Best Use
Retail
$570.4K
$499.1K – $665.4K
NOI $39,926 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$892.2K
$780.7K – $1.04M
NOI $62,455 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
377
Businesses Nearby
65k
Monthly Visits Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Currently leased suite with finished lower level, rear access, storage, office space, and multiple bathrooms.
Where is this retail space located?
The property is located at 1141 W State St #3 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 space at 1141 W State St #3; Currently leased retail suite in a downtown Hurricane shopping center; Main level includes two built‑in coolers totaling 200 ft2
