Share This Listing

Message

945 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

Still interested?

Contact the broker for more information about this property

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

Save this listing!

Favorite this listing to get notified of price updates, new media and more

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.

Attachments

OM American Fork

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

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease Type
  • Lease End
  • Calvary Mountain View Church
  • Services
  • -
  • -
  • -
  • -
  • Accommodation and Food Services
  • -
  • -
  • -
  • -

Where were you in 1989? Gandolfo's can tell you where they were, they just finished moving from New York to Provo, Utah. Missing their favorite New York city flavors and working their butt off. So inspired by a deep longing for the city, food and old friends they opened the first deli in Salt Lake City, Utah. With inspired recipes mixed with traditional New York Delicatessen flair and a ton of hard work Gandolfo's opened three more locations…then BAM! In 2004, this genius idea rolled around in the head of Dan Pool after his first bite…bring this food and taste to everyone in America! Now in 13 states and growing Gandolfo’s brings the New York Deli experience into your hometown. What makes Gandolfo’s different from the rest is they do things the deli way. They bake their own breads, fresh slice their own signature meats and cheeses, and make their deli salads fresh EVERY DAY. The meats are real meats, nothing pre-sliced or stuffed with fillers here.

  • Paul Thomas Brazilian Jiu Jitsu
  • Services
  • -
  • $15.00
  • Triple Net
  • Jan 2028
  • Pregnancy Resource Center
  • -
  • -
  • -
  • -
  • -
Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Calvary Mountain View Church Services - - - -
Accommodation and Food Services - - - -
Paul Thomas Brazilian Jiu Jitsu Services - $15.00 Triple Net Jan 2028
Pregnancy Resource Center - - - - -
Walk Score®
Very Walkable (79)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Starbucks
VASA Fitness
Orangetheory Fitness
Burn Boot Camp

Property Taxes

Property Taxes

Parcel Number
02-012-0032
Land Assessment
$1,490,700
Improvements Assessment
$4,274,700
Total Assessment
$5,765,400
  • Listing ID: 39592140

  • Date on Market: 2/26/2026

  • Last Updated:

  • Address: 338 E State Rd, American Fork, UT 84003

Link copied
Your LoopNet account has been created!

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, "rating") }}
255 character limit ({{ remainingChars() }} charactercharacters remainingover)
{{ getErrorText(feedbackForm.msg, "rating") }}
{{ getErrorText(feedbackForm.fname, "first name") }}
{{ getErrorText(feedbackForm.lname, "last name") }}
{{ getErrorText(feedbackForm.phone, "phone number") }}
{{ getErrorText(feedbackForm.phonex, "phone extension") }}
{{ getErrorText(feedbackForm.email, "email address") }}