Multi-Tenant Retail Investment
For Sale
$7,000,000
338 E State Rd, American Fork, UT 84003
100% leased multi-tenant retail property for sale.
Property Size37,588 SF
Price / SF$186.23
Days on Market194
Property Features for 338 E State Rd
General Information
Standard status
Active
Size
37,588 SF
Building Details
Year Built
1998
Listing Agency:
Century 21 Everest
Listed By:
Andrew Cuppett
(801) 449-3000
Source:
Redsign
Added: Mar 27
Changed: Sep 11
Last Checked: Oct 5 at 7:35PM
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 Century 21 Everest
Investment Insights
Based on property information with market context.
This is a multi-tenant investment property that is currently 100% leased. Please do not disturb the tenants.
Key Highlights
- Multi tenant investment property
- 100% leased
- Built in 1998
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$629,155
Cap Rate
8.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,583,100
$12.6M
Cap Rate 7%
$8,987,929
$9.0M
Cap Rate 9%
$6,990,611
$7.0M
Market Conditions
NOI Build-Up for 37,588 SF
Gross rent
$938.2K $24.96/SF
− Vacancy
−$39.4K −$1.05/SF
EGI
$898.8K $23.91/SF
− OpEx
−$269.6K −$7.17/SF
NOI
$629.2K $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%
$12,583,100
Cap Rate 7%
$8,987,929
Cap Rate 9%
$6,990,611
Alternative Uses
Best Use
Retail
$8.99M
$7.86M – $10.49M
NOI $629,155 @ 7.0% cap · market cap 8.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.36M
$9.07M – $12.09M
NOI $725,298 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,350
Businesses Nearby
Explore this area
Business Placement
Demographics for 84003, UT
52,970
Population
16,441
Households
3.2
Avg Household Size
29
Median Age
50%
College-Educated
96%
High-School Grad
73.6 sq mi
ZIP Area
720
Density / Sq Mi
$120,262
Median Household Income
$41,591
Median Earnings
$1,692
Median Rent
$580,600
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
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Frequently Asked Questions
What type of property is this?
Retail property - 100% leased multi-tenant retail property for sale.
Where is this retail property located?
The property is located at 338 E State Rd American Fork, UT.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: Multi tenant investment property; 100% leased; Built in 1998
