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The Schoolyard - Building A 11020 S State St 8,170 SF 100% Leased 4-Star Retail Building Sandy, UT 84070 $8,771,792 CAD ($1,073.66 CAD/SF) 6% Cap Rate
Investment Highlights
- Two-tenant pad building anchored by corporate Shake Shack
- Crescent Hall lease features 2% annual rental increases
- Ideally positioned adjacent to Costco and Scheels
- Replaceable market rents
- The Schoolyard is one of Sandy’s premier retail developments with recent large-scale renovations
- Affluent demographics – $138,000 average household incomes within a 5-mile radius of the subject property
Executive Summary
A corporate Shake Shack lease running through 2030 with two, 5-year options and Crescent Hall event space lease running through 2028 featuring 2% annual rental increases. Subject property is located in The Schoolyard, a 30,000+ SF retail development in Sandy, UT (Salt Lake City MSA).
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
8,170 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2019
Price
$8,771,792 CAD
Price Per SF
$1,073.66 CAD
Cap Rate
6%
NOI
$526,321 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.12
Lot Size
1.54 AC
Zoning
CBD
Frontage
450’ on STATE ST
Nearby Major Retailers
Property Taxes
| Parcel Number | 27-24-227-012-0000 | Improvements Assessment | $7,959,150 CAD |
| Land Assessment | $4,744,054 CAD | Total Assessment | $12,703,203 CAD |
Property Taxes
Parcel Number
27-24-227-012-0000
Land Assessment
$4,744,054 CAD
Improvements Assessment
$7,959,150 CAD
Total Assessment
$12,703,203 CAD
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The Schoolyard - Building A | 11020 S State St
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