O'Reilly Auto Parts NNN
For Sale
$2,665,600
1487 N REDWOOD RD, Saratoga Springs, UT 84045
Long-term lease in place with scheduled contractual rent growth.
Property Size7,000 SF
Days on Market56
Property Features for 1487 N REDWOOD RD
General Information
Standard status
Active
Size
7,000 SF
Property subtype
Retail
Net Operating Income
$146,608
Building Details
Building Size
7,000 SF
Year Built
2006
Listing Agency:
Trico Property Management & Real Estate LLC
(801) 571-8833
Listed By:
Stacie Papanikolas
(801) 518-3999
Source:
Liftrealty
Added: Aug 25
Changed: Oct 16
Last Checked: Oct 19 at 10:24AM
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 Trico Property Management & Real Estate LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This NNN retail property is leased to O'Reilly Auto Parts under a newly executed 10-year lease. The agreement provides for a 20% scheduled rent increase in 2031, while the tenant reimburses real estate taxes, insurance, CAM, and various property-level expenses. The building was constructed in 2006.
The property is located on Redwood Road in Saratoga Springs, within Utah County and near the Lehi / Silicon Slopes employment corridor. Continued residential development shapes the surrounding market, and recorded reciprocal parking rights provide shared access within the shopping center.
The property is located on Redwood Road in Saratoga Springs, within Utah County and near the Lehi / Silicon Slopes employment corridor. Continued residential development shapes the surrounding market, and recorded reciprocal parking rights provide shared access within the shopping center.
Key Highlights
- Newly executed 10‑year lease with O'Reilly Auto Parts
- NNN structure includes reimbursement of real estate taxes, insurance, CAM, and various property‑level expenses
- 20% scheduled rent increase in 2031
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$117,167
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,343,340
$2.3M
Cap Rate 7%
$1,673,814
$1.7M
Cap Rate 9%
$1,301,856
$1.3M
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$174.7K $24.96/SF
− Vacancy
−$7.3K −$1.05/SF
EGI
$167.4K $23.91/SF
− OpEx
−$50.2K −$7.17/SF
NOI
$117.2K $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%
$2,343,340
Cap Rate 7%
$1,673,814
Cap Rate 9%
$1,301,856
Alternative Uses
Best Use
Retail
$1.67M
$1.46M – $1.95M
NOI $117,167 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,072 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
136
Businesses Nearby
Explore this area
Business Placement
Demographics for 84045, UT
36,898
Population
11,273
Households
3.3
Avg Household Size
24
Median Age
52%
College-Educated
99%
High-School Grad
51.9 sq mi
ZIP Area
711
Density / Sq Mi
$123,870
Median Household Income
$48,493
Median Earnings
$2,201
Median Rent
$566,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
NNN property - Long-term lease in place with scheduled contractual rent growth.
Where is this nnn property located?
The property is located at 1487 N REDWOOD RD Saratoga Springs, UT.
What is the asking price?
The asking price for this property is $2,665,600.
What are key features of this property?
This property features: Newly executed 10‑year lease with O'Reilly Auto Parts; NNN structure includes reimbursement of real estate taxes, insurance, CAM, and various property‑level expenses; 20% scheduled rent increase in 2031
