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3215 E 3300 S 7,700 SF 100% Leased Retail Building Salt Lake City, UT 84109 $9,211,800 CAD ($1,196.34 CAD/SF) 5.25% Cap Rate
Investment Highlights
- INSTITUTIONAL-QUALITY EAST BENCH INFILL RETAIL - Newer-construction two-tenant pad positioned along the highly desirable East Bench corridor
- NNN LEASE STRUCTURE - Tenants reimburse taxes, insurance, and common area expense
- DOMINANT CANYON RIM RETAIL ECOSYSTEM - Positioned in front of a dominant neighborhood shopping center with strong co-tenancy
- 100% OCCUPIED BY UTAH-BASED FAST CASUAL CONCEPTS - Café Rio and Café Zupas provide recognizable regional tenancy with strong Utah consumer familiarity
- HARD CORNER / SIGNALIZED VISIBILITY - Located at a high-visibility retail node along 3300 South with immediate access to dense surrounding rooftops
- OUTDOOR PATIO FOOD-AND-BEVERAGE DRAW - Both tenants benefit from outdoor seating areas, reinforcing the lifestyle / food-service nature of the asset
Executive Summary
CAST Capital Partners and Newmark Mountain West are pleased to present Canyon Rim Shopping Center, a premier institutional-quality retail investment located at 3215 East 3300 South in the heart of Salt Lake City's highly sought-after East Bench submarket.
The offering consists of a 7,700-square-foot, newer construction retail building that is 100% occupied by two of Utah's most recognizable fast-casual restaurant brands—Café Rio and Café Zupas. Both tenants operate under NNN lease structures, providing investors with stable cash flow while minimizing landlord responsibilities. The property is offered at $6,500,000, representing a 5.25% cap rate on current NOI.
Strategically positioned on a signalized hard corner along East 3300 South, the property benefits from exceptional visibility, strong traffic counts, and immediate access to one of Salt Lake City's most affluent residential trade areas. The asset sits directly in front of the dominant Canyon Rim Shopping Center, creating a powerful retail ecosystem alongside national and regional retailers including Savers, PetSmart, Five Guys, Beans & Brews, Wendy's, 7-Eleven, and Smith's.
Built in 2018, the property features modern construction, attractive architecture, dedicated outdoor dining patios, and long-term tenancy from established regional operators with scheduled rental increases throughout the lease terms. The affluent surrounding demographics further strengthen the investment, with average household incomes exceeding $170,000 within one mile of the property.
Opportunities to acquire newer construction retail pad investments in Salt Lake City's East Bench are exceptionally limited due to high barriers to entry and constrained future development. Canyon Rim Shopping Center offers investors a rare opportunity to acquire a stabilized, high-quality retail asset with durable tenancy, contractual rent growth, and long-term value in one of Utah's most desirable infill locations.
The offering consists of a 7,700-square-foot, newer construction retail building that is 100% occupied by two of Utah's most recognizable fast-casual restaurant brands—Café Rio and Café Zupas. Both tenants operate under NNN lease structures, providing investors with stable cash flow while minimizing landlord responsibilities. The property is offered at $6,500,000, representing a 5.25% cap rate on current NOI.
Strategically positioned on a signalized hard corner along East 3300 South, the property benefits from exceptional visibility, strong traffic counts, and immediate access to one of Salt Lake City's most affluent residential trade areas. The asset sits directly in front of the dominant Canyon Rim Shopping Center, creating a powerful retail ecosystem alongside national and regional retailers including Savers, PetSmart, Five Guys, Beans & Brews, Wendy's, 7-Eleven, and Smith's.
Built in 2018, the property features modern construction, attractive architecture, dedicated outdoor dining patios, and long-term tenancy from established regional operators with scheduled rental increases throughout the lease terms. The affluent surrounding demographics further strengthen the investment, with average household incomes exceeding $170,000 within one mile of the property.
Opportunities to acquire newer construction retail pad investments in Salt Lake City's East Bench are exceptionally limited due to high barriers to entry and constrained future development. Canyon Rim Shopping Center offers investors a rare opportunity to acquire a stabilized, high-quality retail asset with durable tenancy, contractual rent growth, and long-term value in one of Utah's most desirable infill locations.
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Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
7,700 SF
Building Class
B
Year Built
2018
Price
$9,211,800 CAD
Price Per SF
$1,196.34 CAD
Cap Rate
5.25%
NOI
$483,316 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.37
Lot Size
0.48 AC
Zoning
C2
Frontage
200’ on 3215 E 3300 S
Amenities
- Bus Line
- Restaurant
- Signalized Intersection
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 16-26-407-008-0000 | Improvements Assessment | $4,506,673 CAD |
| Land Assessment | $1,300,895 CAD | Total Assessment | $5,807,568 CAD |
Property Taxes
Parcel Number
16-26-407-008-0000
Land Assessment
$1,300,895 CAD
Improvements Assessment
$4,506,673 CAD
Total Assessment
$5,807,568 CAD
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3215 E 3300 S
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