Property profile

2121 S Mcclelland St Salt Lake City, UT 84106

FOR LEASE
Strip malls
Property ID
US86-0509772
71,401 SF 1.37 ac lot Built 1910
Entity Owned 12-yr Hold ~ Est. High Equity
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No photos on file
For Lease
$2,725,000 1,883 SF available
2121 S Mcclelland St, Salt Lake City, UT 84106
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Property summary

AI-generated overview

This exceptional retail property at 2121 S McClelland St, Salt Lake City, UT 84106, offers multiple restaurant spaces ideal for a variety of uses. The building totals 4,333 square feet across two stories, with a flexible layout allowing for spaces ranging from 1,089 to 1,784 contiguous square feet. Currently, the entire 4,333 square feet is vacant, presenting a unique opportunity for a single tenant or multiple occupants. The property benefits from its prime location in the heart of Sugar House, a vibrant and walkable neighborhood with over 1,500 residential units within easy reach, ensuring high foot traffic and visibility. Suitable for services, health, wellness, beauty, boutiques, or specialty retail businesses. Recent improvements to McClelland Street further enhance the property's appeal. The property is offered on a NNN lease basis with a net annual rate of $9.71 per square foot. This is a rare chance to secure a well-located, versatile retail space in a thriving Salt Lake City neighborhood. The property's size and layout offer significant flexibility for customization to meet specific business needs. Don't miss this opportunity to establish your business in a high-demand area.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1910
Total area 71,401 SF
Lot 1.37 ac (59,677 SF)
Zoning code CSHBD1
APN 16-20-206-041
UPID US86-0509772

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • (Bike/Boat/Book/etc) Store Corporate Office
  • Title Company Escrow Service
  • Real Estate Agency
  • Real Estate Agency
  • Real Estate Agency

Location

2121 S Mcclelland St Salt Lake City, UT 84106
Salt Lake City metro Census 114100 SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$2.73M

Owner & transaction history

since 2013
7 recorded transactions
2021
Price N/A
2019
Price N/A
2013
Price N/A
2012
Price N/A
2011
Price N/A
2010
$8.2M
1969
Price N/A

Zoning & alternative use

CSHBD1 · Salt Lake City, UT
Top alternative use upside
Apartment house (5+ units) $4.4M +23.8%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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