Net Leased Restaurant-Retail
222 West State Street Hurricane, UT 84737
222 West State Street, Hurricane, UT, 84737
Contact for pricing
For Sale
Contact for pricing
Restaurant and retail investment featuring Pizza Hut and T-Mobile tenants under lease terms.
Property Size5,569 SF
Price / SF$493.80
Days on Market90
Property Features for 222 West State Street
General Information
- Standard status
- Active
- Size
- 5,569 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2007
Listing agency
NAI Excel
(435) 627-5719
Listed by
Jon Walter · License #UT 5640288-AB00
Source
Crexi
Added: Apr 23 Updated: Jul 20 at 5:44PM Checked: Jul 20 at 5:44PM
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 offering includes a 5,569 SF restaurant/retail property with Pizza Hut and T-Mobile as tenants. The building is presented as a net leased investment with a 10-year sale-leaseback agreement in place for Pizza Hut, who will be signing a new lease agreement.
The property is located on State Street in Hurricane, Utah, in a prominent location.
T-Mobile signed a five-year renewable lease in 2023 covering 2,161 SF of the building.
The property is located on State Street in Hurricane, Utah, in a prominent location.
T-Mobile signed a five-year renewable lease in 2023 covering 2,161 SF of the building.
Key Highlights
- ±5,569 SF restaurant/retail property built in 2007
- Tenant mix includes Pizza Hut and T‑Mobile under current lease terms
- 10‑year sale leaseback agreement with Pizza Hut; Pizza Hut will be signing a new lease
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $145.0k | $26.04 |
| − Vacancy | −$1.9k | −$0.34 |
| EGI | $143.1k | $25.70 |
| − OpEx | −$35.8k | −$6.43 |
| NOI | $107.3k | $19.28 |
5,569 SF · lease $26.04/SF/yr · vacancy 1.30% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.53M
$1.34M – $1.79M
NOI $107,349 @ 7.0% cap · market cap 3.90%
Second Best
Retail
$980.4K
$857.8K – $1.14M
NOI $68,626 @ 7.0% cap · market cap 2.50%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Restaurant and retail investment featuring Pizza Hut and T-Mobile tenants under lease terms.
Where is this conventional restaurant located?
The property is located at 222 West State Street Hurricane, UT.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: ±5,569 SF restaurant/retail property built in 2007; Tenant mix includes Pizza Hut and T‑Mobile under current lease terms; 10‑year sale leaseback agreement with Pizza Hut; Pizza Hut will be signing a new lease
