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Pleasant Grove Town Center 172 Pleasant Grove Blvd 3,857 SF 100% Leased Retail Building Pleasant Grove, UT 84062 $3,500,000 ($907.44/SF) 5.80% Cap Rate
Investment Highlights
- 100% Occupied
- High Demand Food & Beverage Area
- Built in 2025, providing modern design and minimal capital expenditure needs.
- 2 Drive-Thrus
- 200 Apartment units under construction next door
- Positioned adjacent to new multifamily development and near key highways.
Executive Summary
Pleasant Grove Town Center presents a fully leased, two-tenant retail asset in a high-growth corridor of Pleasant Grove, Utah. The property is offered at $3,500,000 with a 5.8% cap rate and delivers a strong investment outlook anchored by two established tenants on new five-year leases with options. Featuring two drive-thru lanes, the building is positioned to meet the growing demand for convenience within a dense residential and expanding commercial trade area.
Located along Pleasant Grove Boulevard with easy access to I-15, this property benefits from excellent visibility and connectivity to major regional arterials. The surrounding area is an established hub of retail, dining, and entertainment, complemented by significant new developments, including over 200 apartment units under construction nearby. Built in 2025, the building offers contemporary design and construction quality, ensuring minimal near-term maintenance requirements. This asset combines stable, long-term income with strategic positioning in Utah County’s dynamic market.
Located along Pleasant Grove Boulevard with easy access to I-15, this property benefits from excellent visibility and connectivity to major regional arterials. The surrounding area is an established hub of retail, dining, and entertainment, complemented by significant new developments, including over 200 apartment units under construction nearby. Built in 2025, the building offers contemporary design and construction quality, ensuring minimal near-term maintenance requirements. This asset combines stable, long-term income with strategic positioning in Utah County’s dynamic market.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
3,857 SF
Building Class
B
Year Built
2024
Price
$3,500,000
Price Per SF
$907.44
Cap Rate
5.80%
NOI
$203,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.13
Lot Size
0.70 AC
Amenities
- Drive Thru
Moderately walkable
60/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 49-579-0018 | Improvements Assessment | $0 |
| Land Assessment | $528,700 | Total Assessment | $528,700 |
Property Taxes
Parcel Number
49-579-0018
Land Assessment
$528,700
Improvements Assessment
$0
Total Assessment
$528,700
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Pleasant Grove Town Center | 172 Pleasant Grove Blvd
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