11020 S State St - Restaurant FOR SALE


$6,429,000 USD
650-678-7200
11020 S State St, Sandy, UT for Sale
$6,429,000 USD
Restaurant - FOR SALE
1/2
null | 6% Cap Rate


HIGHLIGHTS

  • Two-tenant pad building anchored by corporate Shake Shack
  • Replaceable market rents
  • Crescent Hall lease features 2% annual rental increases
  • The Schoolyard is one of Sandy’s premier retail developments with recent large-scale renovations
  • Ideally positioned adjacent to Costco and Scheels
  • Affluent demographics – $138,000 average household incomes within a 5-mile radius of the subject property

OVERVIEW

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).

FOR SALE DETAILS

PRICE

$6,429,000 USD

PRICE/SF

$787 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Schoolyard - Building A

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2019

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.54 AC

LAND SF

67,082 SF

ZONING

CBD

APN/PARCEL ID

27-24-227-012-0000

ASK ABOUT THIS PROPERTY

John AndreiniCP Partners CREMore Info
650-678-7200

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John AndreiniCP Partners CREMore Info
650-678-7200

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.