11078 State St Sandy, UT 84070
- Neighborhood centers
- 8,434 SF
- 1.48 lot acres
Current Use by Public Records
- BODY20 / Fitness Center / Gym
- NuSpine Chiropractic / Medical Clinic / Walk-In Clinic
- Yonutz Donuts and Ice Cream - Sandy UT / Donut Shop / Dessert Shop
- Roxberry Juice Co. Drive Thru / Juice Shop
- La Condesa, Inc. • Brunch Restaurant / Brunch Restaurant
Property Details for 11078 State St
- Year built
- 2023
- Lot size
- 1.48 lot acres
- Property size
- 8,434 SF
- Property type
- Neighborhood centers
- Property subtype
- Retail properties
Description
Exceptional investment opportunity in Sandy, Utah's thriving retail market. This brand-new, 8,434 square foot, 100% occupied strip center boasts five tenants on long-term leases with built-in annual rent increases. The property, constructed in 2023, features a diverse tenant mix including Roxberry, NuSpine Chiropractic, Yonutz!, BODY20, and La Condesa. Located on a 1.478-acre lot at 11078 S State St, 84070, this prime location benefits from its adjacency to major retailers like Costco and Scheels, and is surrounded by a strong residential demographic with an average household income exceeding $131,000 within a five-mile radius. The property's Net Operating Income (NOI) is $340,793, yielding a 6.00% cap rate, and the asking price is $5,680,000. All tenants provide sales reports, ensuring strong financial performance and replaceable market rents. This is a rare opportunity to acquire a high-performing, newly constructed retail center in one of Utah's fastest-growing suburbs. The Schoolyard development, of which this building is a part, comprises over 30,000 square feet of retail space, further solidifying its position as a premier retail destination. This investment offers long-term stability and significant upside potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sandy
- County
- Salt Lake
- State
- Utah
- Longitude
- -111.891
- Latitude
- 40.5503
