Retail Condo at Grand Circle
For Sale
$595,000
1141 W State St Ste 13, Hurricane, UT 84737
For sale retail condo located in Grand Circle Plaza on State Street in Hurricane, UT.
Property Size1,841 SF
Days on Market66
Property Features for 1141 W State St Ste 13
General Information
Standard status
Active
Size
1,841 SF
Property subtype
Retail
Building Details
Building Size
1,841 SF
Year Built
2000
Listing Agency:
NAI Excel
(435) 627-5719
Listed By:
Jon Walter · License #5640288-AB00
Source:
Naiglobal
Added: Jun 17
Changed: Aug 21
Last Checked: Aug 21 at 5:15AM
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
Investment Insights
Based on property information with market context.
This for-sale retail condo is located within Grand Circle Plaza at 1141 W State St, Suite 13, in Hurricane, Utah. The property is presented as a retail storefront unit in a larger commercial plaza setting.
The asset’s public description identifies it as retail space on State Street, offering a dedicated suite within the Grand Circle Plaza.
This listing is for the retail condo unit itself and is not described with additional interior or tenancy details in the provided information.
The asset’s public description identifies it as retail space on State Street, offering a dedicated suite within the Grand Circle Plaza.
This listing is for the retail condo unit itself and is not described with additional interior or tenancy details in the provided information.
Key Highlights
- Retail condo in Grand Circle Plaza on State Street in Hurricane, UT
- Built in 2000
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
$22,686
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
3.81%
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%
$453,720
$453.7K
Cap Rate 7%
$324,086
$324.1K
Cap Rate 9%
$252,067
$252.1K
Market Conditions
NOI Build-Up for 1,841 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
$33.1K $18.00/SF
− Vacancy
−$729 −$0.40/SF
EGI
$32.4K $17.60/SF
− OpEx
−$9.7K −$5.28/SF
NOI
$22.7K $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%
$453,720
Cap Rate 7%
$324,086
Cap Rate 9%
$252,067
Alternative Uses
Best Use
Retail
$324.1K
$283.6K – $378.1K
NOI $22,686 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$507.0K
$443.6K – $591.5K
NOI $35,487 @ 7.0% cap · market cap 5.96%
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
Under-served
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?
Storefront property - For sale retail condo located in Grand Circle Plaza on State Street in Hurricane, UT.
Where is this storefront property located?
The property is located at 1141 W State St Ste 13 Hurricane, UT.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Retail condo in Grand Circle Plaza on State Street in Hurricane, UT; Built in 2000
