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The Schoolyard - Building A 11020 S State St 8,170 sq ft 100% Let 4-Star Retail Property Sandy, UT 84070 £4,788,383 (£586.09/sq ft) 6% Net Initial Yield
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
Property Size
8,170 sq ft
Costar Property Class
A
LoopNet Rating
4 Star
Year Built
2019
Price
£4,788,383
Price per sq ft
£586.09
Yield
6%
NOI
£287,310
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
1
Plot ratio
0.12
Total Plot Size
1.54 ac
Use Class
CBD
Frontage
450 ft on STATE ST
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 27-24-227-012-0000 | Improvements Assessment | £4,344,775 |
| Land Assessment | £2,589,704 | Total Assessment | £6,934,479 |
PROPERTY TAXES
Parcel Number
27-24-227-012-0000
Land Assessment
£2,589,704
Improvements Assessment
£4,344,775
Total Assessment
£6,934,479
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The Schoolyard - Building A | 11020 S State St
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