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The Schoolyard - Building A 11020 S State St 8,170 SF 100% Leased 4-Star Retail Building Sandy, UT 84070 $6,429,000 ($786.90/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
$6,429,000
Price Per SF
$786.90
Cap Rate
6%
NOI
$385,750
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 | $5,833,400 |
| Land Assessment | $3,477,000 | Total Assessment | $9,310,400 |
Property Taxes
Parcel Number
27-24-227-012-0000
Land Assessment
$3,477,000
Improvements Assessment
$5,833,400
Total Assessment
$9,310,400
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The Schoolyard - Building A | 11020 S State St
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