Multi-Tenant Strip
For Sale
$2,999,000
4032 West 4100 South West Valley, Salt Lake City, UT 84120
Fully occupied retail center with five suites, established tenants, and access to Bangerter Highway.
Property Size9,089 SF
Lot Size0.69 Acres
Price / SF$336.59
Days on Market195
Property Features for 4032 West 4100 South West Valley
General Information
Standard status
Active
Size
9,089 SF
Lot size
0.69 Acres
Property subtype
Strip Center
Occupancy
100%
Net Operating Income
$124,682
Financials
Asking Price
$2,999,000
Cap Rate
4.16%
Site & Location
Anchor Co-Tenants
Subway, Metro, Boost Mobile
Traffic Count
31,036 vehicles/day
Highway Access
Yes
Building Details
Building Size
9,089 SF
Year Built
1990
Buildings
1
Tenancy
Multi
Parking Ratio
3.5 per 1,000 SF
Listing Agency:
Investment Realty Advisors, LLC
(801) 971-2542
Listed By:
Joseph Mills · License #UT-5652815-PB00
(801) 971-2542
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 10:59AM
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 Investment Realty Advisors, LLC
Investment Insights
Based on property information with market context.
This 8,910-square-foot strip center contains one building with five units averaging 1,320 to 2,220 SF. Built in 1990 and classified as Class B, the property is 100% occupied and includes established tenants such as Subway, Metro, and Boost Mobile. Parcel size totals .69 AC, with a parking ratio of 3.5/1000.
The center is located on West 4100 South in West Valley City, with reported average daily traffic of 31,036 and access to Bangerter Highway. Dense residential and commercial surroundings support the existing retail setting. All leases except the laundromat expire on or before November 2026, providing defined lease-renewal and turnover dates for future ownership planning.
The center is located on West 4100 South in West Valley City, with reported average daily traffic of 31,036 and access to Bangerter Highway. Dense residential and commercial surroundings support the existing retail setting. All leases except the laundromat expire on or before November 2026, providing defined lease-renewal and turnover dates for future ownership planning.
Key Highlights
- 8,910‑square‑foot strip center on .69 AC
- Five units in one building; average unit sizes range from 1,320 to 2,220 SF
- 100% occupancy with Subway, Metro, and Boost Mobile among the tenants
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
$133,130
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
4.44%
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%
$2,662,600
$2.7M
Cap Rate 7%
$1,901,857
$1.9M
Cap Rate 9%
$1,479,222
$1.5M
Market Conditions
NOI Build-Up for 8,910 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
$195.7K $21.96/SF
− Vacancy
−$5.5K −$0.61/SF
EGI
$190.2K $21.35/SF
− OpEx
−$57.1K −$6.40/SF
NOI
$133.1K $14.94/SF
Area
Salt Lake City, UT
Vacancy
2.80%
Lease Rate
$21.96 /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%
$2,662,600
Cap Rate 7%
$1,901,857
Cap Rate 9%
$1,479,222
Alternative Uses
Best Use
Retail
$1.90M
$1.66M – $2.22M
NOI $133,130 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $168,034 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
31,036 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
217k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 32%
Groceries 28%
Apparel 23%
Shops & Services 17%
Smith's
Groceries
56,107 visits/mo
0.1 miles
REI
Apparel
34,624 visits/mo
0.1 miles
McDonald's
Dining
23,521 visits/mo
0.2 miles
Smith's Fuel Center
Shops & Services
16,148 visits/mo
0.2 miles
Savers Thrift Store
Apparel
15,643 visits/mo
0.2 miles
Demographics for 84120, UT
51,212
Population
14,184
Households
3.6
Avg Household Size
32
Median Age
15%
College-Educated
81%
High-School Grad
10.1 sq mi
ZIP Area
5,070
Density / Sq Mi
$90,847
Median Household Income
$36,899
Median Earnings
$1,434
Median Rent
$370,800
Median Home Value
Market
Vacancy Rate% for Retail in Salt Lake City, UT
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Fully occupied retail center with five suites, established tenants, and access to Bangerter Highway.
Where is this strip mall located?
The property is located at 4032 West 4100 South West Valley Salt Lake City, UT.
What is the asking price?
The asking price for this property is $2,999,000.
What are key features of this property?
This property features: 8,910‑square‑foot strip center on .69 AC; Five units in one building; average unit sizes range from 1,320 to 2,220 SF; 100% occupancy with Subway, Metro, and Boost Mobile among the tenants
