The Shoppes at Lake Park
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The Shoppes at Lake Park
2 Retail Properties Offered at $13,750,000 in West Valley City, UT
Investment Highlights
- Premier 100% occupied shopping center comprising two properties situated in a highly trafficked area in front of about 49,000 VPD in West Valley City.
- Established with retailers Starbucks, Michaels, PetSmart and Jersey Mike’s, shadow-anchored by national tenants Kohl’s, Burlington, Chili’s, and more.
- Conveniently positioned just off the newly constructed SR 85 (N Mountain View), less than 10 minutes from the I-215 and SR 201 highway interchange.
- Prominently located with ample parking and easy access in the heart of a robust trade area filled with nationally renowned retailers and restaurants.
- Long-term tenants have consistently been on NNN lease terms since the inception of the center in 2005, which has historically remained 99% leased.
- Strategically situated 15 minutes outside of Downtown Salt Lake City, and 12 minutes from the Salt Lake City International Airport (SLC).
Executive Summary
Advantageously located in the heart of West Valley City’s robust trade area, The Shoppes at Lake Park is a 100% leased shopping center along S 5600 W in Utah. The offering presents two retail properties, including renowned retailers Michaels, PetSmart, Starbucks, and Jersey Mike’s, shadow-anchored by national tenants Kohl’s, Burlington, Chili’s, and more. 3061-3081 + 2993 S 5600 W has historically been 99% leased based with conservative rental promoting potential upside through future escalations rising to market rents. The tenants have consistently been under desirable NNN leases since the site was developed in 2005, making this a true laissez-faire acquisition for a new investor.
The Shoppes at Lake Park has supreme visibility and building signage in a densely populated area front and center to about 49,000 vehicles per day. The shopping center has easy accessibility just off the newly constructed State Route 85 (N Mountain View), less than 10 minutes from the Interstate 215 and State Route 201 interchange. The Salt Lake City International Airport (SLC) is 12 minutes, or 6.4 miles from the center, bringing travelers and visitors alike to the area.
3061-3081 + 2993 S 5600 W benefits from its strong surrounded demographics with a growing population of over 223,400 residents within a 5-mile radius and a daytime employment of 90,000 employees. These residents have an average household income of $83,529 and spend more than $2.3 billion in the community annually.
The Shoppes at Lake Park serves as a stabilized investment opportunity for a new owner 15 minutes outside of Downtown Salt Lake City. This portfolio asset provides dependable revenue as its tenants have demonstrated commitment to the properties paired with a community boasting an impressive spending power.
The Shoppes at Lake Park has supreme visibility and building signage in a densely populated area front and center to about 49,000 vehicles per day. The shopping center has easy accessibility just off the newly constructed State Route 85 (N Mountain View), less than 10 minutes from the Interstate 215 and State Route 201 interchange. The Salt Lake City International Airport (SLC) is 12 minutes, or 6.4 miles from the center, bringing travelers and visitors alike to the area.
3061-3081 + 2993 S 5600 W benefits from its strong surrounded demographics with a growing population of over 223,400 residents within a 5-mile radius and a daytime employment of 90,000 employees. These residents have an average household income of $83,529 and spend more than $2.3 billion in the community annually.
The Shoppes at Lake Park serves as a stabilized investment opportunity for a new owner 15 minutes outside of Downtown Salt Lake City. This portfolio asset provides dependable revenue as its tenants have demonstrated commitment to the properties paired with a community boasting an impressive spending power.
Data Room Click Here to Access
- LOI Draft (Due Diligence Link Inside)
Property Facts
| Price | $13,750,000 | Number of Properties | 2 |
| Price / SF | $226.21 / SF | Individually For Sale | 0 |
| Cap Rate | 6.25% | Total Building Size | 60,785 SF |
| Sale Type | Investment NNN | Total Land Area | 20.47 AC |
| Status | Active |
| Price | $13,750,000 |
| Price / SF | $226.21 / SF |
| Cap Rate | 6.25% |
| Sale Type | Investment NNN |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 60,785 SF |
| Total Land Area | 20.47 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 2993 S 5600 W, West Valley City, UT 84120 | Retail | 8,000 SF | 2005 | - |
|
The Shoppes at Lake Park
3061-3081 S 5600 W, West Valley City, UT 84120 |
Retail | 52,785 SF | 2005 | - |
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