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338 E State Road 338 E State Rd 37,588 SF 100% Leased Retail Building American Fork, UT 84003 $7,000,000 ($186.23/SF) 6.97% Cap Rate
Investment Highlights
- 100% Leased
- Multi-tenant building
- 2% & 3% annual rental increase
Executive Summary
Retail Investment Opportunity. Price $7,000,000 | Cap Rate: 6.97% | NOI $487,739
The Calvary Church Building in American Fork, UT conveniently located on State Road, minutes from I-15.
The Calvary Church Building in American Fork, UT conveniently located on State Road, minutes from I-15.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$561,852
|
$14.95
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$561,852
|
$14.95
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$74,112
|
$1.97
|
| Net Operating Income |
$487,740
|
$12.98
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $561,852 |
| Annual Per SF | $14.95 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $561,852 |
| Annual Per SF | $14.95 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $74,112 |
| Annual Per SF | $1.97 |
| Net Operating Income | |
|---|---|
| Annual | $487,740 |
| Annual Per SF | $12.98 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
37,588 SF
Building Class
C
Year Built
1998
Price
$7,000,000
Price Per SF
$186.23
Cap Rate
6.97%
NOI
$487,739
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.36
Lot Size
2.38 AC
Opportunity Zone
Yes
Zoning
CG1 - Commercial
Walk Score®
Very Walkable (79)
Nearby Major Retailers
Property Taxes
| Parcel Number | 02-012-0032 | Improvements Assessment | $4,274,700 |
| Land Assessment | $1,490,700 | Total Assessment | $5,765,400 |
Property Taxes
Parcel Number
02-012-0032
Land Assessment
$1,490,700
Improvements Assessment
$4,274,700
Total Assessment
$5,765,400
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338 E State Road | 338 E State Rd
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