Building Details

Building Size 4,108 SF

Year Built 1995

Listing Agency: NAI Excel

Listed By: Wes Davis · License #5502820-SA00 Show Phone

Source: Naiglobal

Added: Jun 23 Changed: Aug 30 Last Checked: Sep 1 at 3:31PM

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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 shopping center is positioned along Santa Clara Dr in Santa Clara, Utah. The retail property was constructed in 1995 and is offered with an NNN lease structure. Its location and retail classification provide a straightforward profile for commercial real estate evaluation.

Key Highlights

• NNN lease structure
• Frontage along Santa Clara Dr
• Constructed in 1995

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

$50,622

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

3.68%

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%

$1,012,440 $1.0M

Cap Rate 7%

$723,171 $723.2K

Cap Rate 9%

$562,467 $562.5K

Market Conditions

NOI Build-Up for 4,108 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

$73.9K $18.00/SF

− Vacancy

−$1.6K −$0.40/SF

EGI

$72.3K $17.60/SF

− OpEx

−$21.7K −$5.28/SF

NOI

$50.6K $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%

$1,012,440

Cap Rate 7%

$723,171

Cap Rate 9%

$562,467

Alternative Uses

Best Use

Retail

$723.2K

$632.8K – $843.7K (±1% cap)

NOI $50,622 @ 7.0% cap · market cap 3.68%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.13M

$989.8K – $1.32M (±1% cap)

NOI $79,186 @ 7.0% cap · market cap 5.76%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Kevin Okeefe, PsyD Physician FedEx Drop Box Postal Service Evoke Therapy Programs Medical Clinic

Suggested Use

Top Pick Law Firm Restaurant Real Estate Agency Building Supply Spa & Massage Center Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

245

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 84765, UT

7,593

Population

2,867

Households

2.6

Avg Household Size

34

Median Age

35%

College-Educated

93%

High-School Grad

48.1 sq mi

ZIP Area

158

Density / Sq Mi

$93,083

Median Household Income

$32,210

Median Earnings

$1,912

Median Rent

$509,600

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Shopping center - Retail property constructed in 1995 with frontage along Santa Clara Dr.

Where is this shopping center located?

The property is located at 2711 Santa Clara Dr Santa Clara, UT.

What is the asking price?

The asking price for this property is $1,375,000.

What are key features of this property?

This property features: NNN lease structure; Frontage along Santa Clara Dr; Constructed in 1995