Salt Lake City Retail for Sale - Foothill Corridor
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.
