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Farmington Shopping Center 1322-1328 N Highway 89 11,487 SF 97% Leased Retail Building Farmington, UT 84025 $2,261,000 ($196.83/SF) 6.75% Cap Rate
Investment Highlights
- 100% Occupied | In-Line Shops Attached to Grocery Smith’s |E-Commerce Resistant Tenant Line-Up | Below Market Rent
- Strong Demographics In 5-Mile Trade Area | Affluent 6-figure AHHI
- Located Along State Highway 89 (38,100 VPD)
Executive Summary
• 100% occupied, generating steady cash flow for a new owner
• Ideal e-commerce tenant line-up with service and food concept tenants
• The property is an in-line shops to a grocery shadow-anchor Smith’s, which attracts a significant number of customers to the site
• Tenants are currently paying far below market rents in Davis County
• Ideal e-commerce tenant line-up with service and food concept tenants
• The property is an in-line shops to a grocery shadow-anchor Smith’s, which attracts a significant number of customers to the site
• Tenants are currently paying far below market rents in Davis County
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
11,487 SF
Building Class
B
Year Built
1989
Price
$2,261,000
Price Per SF
$196.83
Cap Rate
6.75%
NOI
$152,641
Percent Leased
97%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
5 Exterior
Building FAR
0.51
Lot Size
0.52 AC
Zoning
C - Commercial
Parking
28 Spaces (2.44 Spaces per 1,000 SF Leased)
Amenities
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signage
Space Availability
- Space
- Size
- Space Use
- Position
- Available
2,600 SF freestanding building for lease.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 2,600 SF | Retail | Outparcel | Now |
1st Floor
| Size |
| 2,600 SF |
| Space Use |
| Retail |
| Position |
| Outparcel |
| Available |
| Now |
1st Floor
| Size | 2,600 SF |
| Space Use | Retail |
| Position | Outparcel |
| Available | Now |
2,600 SF freestanding building for lease.
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,217,041 | |
| Land Assessment | $312,654 | Total Assessment | $1,529,695 |
Property Taxes
Parcel Numbers
Land Assessment
$312,654
Improvements Assessment
$1,217,041
Total Assessment
$1,529,695
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Farmington Shopping Center | 1322-1328 N Highway 89
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