Retail Space with
For Sale
Contact for pricing
5418 W Main St, Herriman, UT 84096
Approx 5,248 SF retail building with drive-through and 42-stall parking, currently leased month-to-month.
Property Size5,248 SF
Price / SF$438.26
Days on Market187
Property Features for 5418 W Main St
General Information
Standard status
Active
Size
5,248 SF
Property subtype
RETAIL
Listing Agency:
Mountain West - Corporate
(801) 456-8800
Listed By:
Josh Vance · License #5498417-SA00
(801) 456-8857
Source:
Moodyscre
Added: Mar 24
Changed: Sep 7
Last Checked: Sep 26 at 4:36AM
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 Mountain West - Corporate
Investment Insights
Based on property information with market context.
This retail space includes approximately 5,248 SF and is configured with a drive-through. The property sits on approximately 0.88 acres and provides 42 parking stalls.
The property is located at 5418 W Main St, Herriman, UT 84096, with reported traffic counts of 16,586 AADT on Herriman Main Street. The current tenant operates on a month-to-month basis.
For planning purposes, the tenant is set to vacate with 30 days notice. The lease payment is described as NNN in the transaction details provided.
The property is located at 5418 W Main St, Herriman, UT 84096, with reported traffic counts of 16,586 AADT on Herriman Main Street. The current tenant operates on a month-to-month basis.
For planning purposes, the tenant is set to vacate with 30 days notice. The lease payment is described as NNN in the transaction details provided.
Key Highlights
- Approximately 5,248 SF retail space with drive‑through
- Approximately 0.88 acres
- 42 parking stalls
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
$78,599
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
3.42%
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%
$1,571,980
$1.6M
Cap Rate 7%
$1,122,843
$1.1M
Cap Rate 9%
$873,322
$873.3K
Market Conditions
NOI Build-Up for 5,248 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
$115.2K $21.96/SF
− Vacancy
−$3.0K −$0.56/SF
EGI
$112.3K $21.40/SF
− OpEx
−$33.7K −$6.42/SF
NOI
$78.6K $14.98/SF
Area
Salt Lake County, UT
Vacancy
2.57%
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%
$1,571,980
Cap Rate 7%
$1,122,843
Cap Rate 9%
$873,322
Alternative Uses
Best Use
Retail
$1.12M
$982.5K – $1.31M
NOI $78,599 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$69.88M
$61.14M – $81.53M
NOI $4,891,534 @ 7.0% cap · market cap 212.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
426
Businesses Nearby
33k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 67%
Dining 33%
Arctic Circle
Dining
9,238 visits/mo
0.3 miles
Maverik Adventures First Stop
Shops & Services
7,597 visits/mo
0.2 miles
Chevron
Shops & Services
7,523 visits/mo
0.3 miles
O'Reilly Auto Parts
Shops & Services
4,986 visits/mo
0.4 miles
Jiffy Lube
Shops & Services
1,693 visits/mo
0.4 miles
Demographics for 84096, UT
69,086
Population
21,168
Households
3.3
Avg Household Size
27
Median Age
41%
College-Educated
94%
High-School Grad
71.1 sq mi
ZIP Area
972
Density / Sq Mi
$117,800
Median Household Income
$50,954
Median Earnings
$1,888
Median Rent
$540,500
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
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Frequently Asked Questions
What type of property is this?
Retail space - Approx 5,248 SF retail building with drive-through and 42-stall parking, currently leased month-to-month.
Where is this retail space located?
The property is located at 5418 W Main St Herriman, UT.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Approximately 5,248 SF retail space with drive‑through; Approximately 0.88 acres; 42 parking stalls
