Neighborhood Retail Shopping
For Sale
Contact for pricing
Pending
7000 South Redwood Road, West Jordan, UT 84084
NNN-structured shopping center anchored by Harbor Freight Tools and Dollar Tree with 100% occupancy by 21 tenants.
Property Size96,615 SF
Lot Size10.24 Acres
Days on Market98
Property Features for 7000 South Redwood Road
General Information
Standard status
Pending
Size
96,615 SF
Lot size
10.24 Acres
Property subtype
Retail
Zoning
SD-2 (Community Shopping Center)
Occupancy
100%
Lease Type
NNN
Additional Details
Traffic Count
70,000 vehicles/day
Building Details
Year Built
1987
Units
21
Tenancy
Multi
Listing Agency:
Legend Commercial
Listed By:
Ty Miller · License #UT 9631442-SA00
Source:
Crexi
Added: Jun 3
Changed: Aug 8
Last Checked: Jul 29 at 1:12PM
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 Legend Commercial
Investment Insights
Based on property information with market context.
Redwood Village is a retail shopping center offered on an NNN basis, totaling 96,615 SF on 10.24 acres. The property is 100% occupied by 21 tenants and is anchored by Harbor Freight Tools and Dollar Tree. The offering highlights a weighted average lease term of 4.62 years and a parking ratio of 5.21 spaces per 1,000 SF.
The center is located at the high-visibility intersection of Redwood Road and 7000 South in West Jordan, UT, and the remarks cite approximately 70,000 vehicles per day.
According to the offering, in-place rents are below market, creating potential for future rent growth alongside stable in-place income supported by NNN leases.
The center is located at the high-visibility intersection of Redwood Road and 7000 South in West Jordan, UT, and the remarks cite approximately 70,000 vehicles per day.
According to the offering, in-place rents are below market, creating potential for future rent growth alongside stable in-place income supported by NNN leases.
Key Highlights
- 96,615 SF shopping center on 10.24 acres at the intersection of Redwood Road and 7000 South in West Jordan, UT
- 100% occupied with 21 tenants, anchored by Harbor Freight Tools and Dollar Tree
- NNN lease structure with weighted average lease term of 4.62 years
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
$1,246,371
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
8.15%
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%
$24,927,420
$24.9M
Cap Rate 7%
$17,805,300
$17.8M
Cap Rate 9%
$13,848,567
$13.8M
Market Conditions
NOI Build-Up for 96,615 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
$1.83M $18.96/SF
− Vacancy
−$51.3K −$0.53/SF
EGI
$1.78M $18.43/SF
− OpEx
−$534.2K −$5.53/SF
NOI
$1.25M $12.90/SF
Area
West Jordan, UT
Vacancy
2.80%
Lease Rate
$18.96 /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%
$24,927,420
Cap Rate 7%
$17,805,300
Cap Rate 9%
$13,848,567
Alternative Uses
Best Use
Retail
$17.81M
$15.58M – $20.77M
NOI $1,246,371 @ 7.0% cap · market cap 8.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$27.41M
$23.99M – $31.98M
NOI $1,919,043 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
70,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
563
Businesses Nearby
208k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 31%
Dining 22%
Groceries 21%
Apparel 14%
Smith's
Groceries
44,363 visits/mo
0.2 miles
Harbor Freight Tools
Home Improvements & Furnishings
20,445 visits/mo
0.0 miles
Deseret Industries
Apparel
18,162 visits/mo
0.2 miles
Smith's Fuel Center
Shops & Services
14,964 visits/mo
0.1 miles
Taco Bell
Dining
13,891 visits/mo
0.1 miles
Demographics for 84084, UT
32,568
Population
10,628
Households
3.1
Avg Household Size
34
Median Age
25%
College-Educated
91%
High-School Grad
6.6 sq mi
ZIP Area
4,935
Density / Sq Mi
$94,214
Median Household Income
$41,443
Median Earnings
$1,658
Median Rent
$432,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - NNN-structured shopping center anchored by Harbor Freight Tools and Dollar Tree with 100% occupancy by 21 tenants.
Where is this shopping center located?
The property is located at 7000 South Redwood Road West Jordan, UT.
What is the asking price?
The asking price for this property is $15,300,000.
What are key features of this property?
This property features: 96,615 SF shopping center on 10.24 acres at the intersection of Redwood Road and 7000 South in West Jordan, UT; 100% occupied with 21 tenants, anchored by Harbor Freight Tools and Dollar Tree; NNN lease structure with weighted average lease term of 4.62 years
