Five-Tenant NNN Shopping
For Sale
Contact for pricing
844 W Telegraph Rd, Washington, UT 84780
Fully leased retail center with national anchors and a triple-net lease structure supporting limited landlord responsibilities.
Property Size51,632 SF
Price / SF$267.40
Days on Market15
Property Features for 844 W Telegraph Rd
General Information
Standard status
Active
Size
51,632 SF
Total Parking Spaces
267
Property subtype
Retail
Zoning
Commercial - Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$828,382
Additional Details
Anchor Co-Tenants
Best Buy, Boot Barn
Building Details
Year Built
2003
Buildings
1
Tenancy
Multi
Listing Agency:
Graystone Capital Advisors
(949) 942-1300
Listed By:
Jared Meyers · License #UT 5722105-PB00
Source:
Crexi
Added: Aug 14
Changed: Aug 28
Last Checked: Aug 28 at 12:09PM
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 Graystone Capital Advisors
Investment Insights
Based on property information with market context.
Telegraph Marketplace is a 51,632-square-foot shopping center built in 2003 and occupied by five retail tenants under NNN leases. Best Buy and Boot Barn comprise approximately 82% of the gross leasable area, with additional tenancy from America's Best Contacts & Eyeglasses, Tan Republic, and a long-tenured mattress retailer. The property is 100% occupied, and its leases have a weighted average remaining term of approximately 7.4 years.
The center is located at 844 W. Telegraph Rd. in Washington, Utah, with direct exposure to Interstate 15 and Green Springs Drive. Traffic at the site exceeds 70,000 vehicles per day on Interstate 15 and 30,000 vehicles per day on Green Springs Drive. Two adjacent outparcels are occupied by Del Taco and In-N-Out Burger and are not included in the offering. Commercial - Retail zoning supports the property's established retail-center use.
The center is located at 844 W. Telegraph Rd. in Washington, Utah, with direct exposure to Interstate 15 and Green Springs Drive. Traffic at the site exceeds 70,000 vehicles per day on Interstate 15 and 30,000 vehicles per day on Green Springs Drive. Two adjacent outparcels are occupied by Del Taco and In-N-Out Burger and are not included in the offering. Commercial - Retail zoning supports the property's established retail-center use.
Key Highlights
- 51,632‑square‑foot shopping center built in 2003
- 100% occupied by five retail tenants
- NNN leases with approximately 7.4 years of weighted average lease term
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
$636,251
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
4.61%
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%
$12,725,020
$12.7M
Cap Rate 7%
$9,089,300
$9.1M
Cap Rate 9%
$7,069,456
$7.1M
Market Conditions
NOI Build-Up for 51,632 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
$929.4K $18.00/SF
− Vacancy
−$20.4K −$0.40/SF
EGI
$908.9K $17.60/SF
− OpEx
−$272.7K −$5.28/SF
NOI
$636.3K $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%
$12,725,020
Cap Rate 7%
$9,089,300
Cap Rate 9%
$7,069,456
Alternative Uses
Best Use
Retail
$9.09M
$7.95M – $10.60M
NOI $636,251 @ 7.0% cap · market cap 4.61%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$14.22M
$12.44M – $16.59M
NOI $995,264 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 84780, UT
28,025
Population
12,922
Households
2.2
Avg Household Size
36
Median Age
35%
College-Educated
94%
High-School Grad
61.8 sq mi
ZIP Area
453
Density / Sq Mi
$94,103
Median Household Income
$42,098
Median Earnings
$1,581
Median Rent
$511,700
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 - Fully leased retail center with national anchors and a triple-net lease structure supporting limited landlord responsibilities.
Where is this shopping center located?
The property is located at 844 W Telegraph Rd Washington, UT.
What is the asking price?
The asking price for this property is $13,806,367.
What are key features of this property?
This property features: 51,632‑square‑foot shopping center built in 2003; 100% occupied by five retail tenants; NNN leases with approximately 7.4 years of weighted average lease term
