Listed by Colliers - Pleasant Grove - Utah County, Utah
$4,546,000
Steele Ridge Plaza Building #2
Details
APN 66-919-0009
Property Type Retail
Sub Type QSR/Fast Food, Storefront
Square Footage 7,350
Units 3
Cap Rate 6.5%
NOI $295,463
Occupancy 69.56%
Tenancy Multi
Brand/Tenant Wurst Smokehouse
Lease Type NNN
Price per SqFt $619
Class A
Year Built 2025
Buildings 1
Stories 1
Acreage 0.790
Zoning Regional Commercial (RC)
Ground Lease No
Multi-tenant retail with strong restaurant anchor and lease-up potential
Marketing description
Building 2 at Steele Ridge is a newly constructed 7,350 SF retail property offering investors a blend of secure income and upside through lease-up potential. Anchored by Wurst Smokehouse, a growing regional restaurant concept on a 10-year lease, the building also features two vacant suites ideal for food, service, or specialty retail tenants. Located along Crossroads Boulevard with 17,000 daily vehicles and surrounded by major national retailers, Building 2 is positioned to capture both strong tenant demand and rapid area growth. With completion expected in October 2025, this asset provides investors an opportunity to secure long-term income in one of Utah’s fastest-growing markets.
Investment highlights
- 7,350 SF multi-tenant retail building on 0.79 acres
- Anchored by Wurst Smokehouse on a 10-year lease with 3% annual rent escalations
- 69.56% occupancy with prime vacancy for additional income growth
- Average rent at $40.20 PSF with strong tenant demand in the market
- Located in the heart of Saratoga Springs, projected for 28.8% population growth by 2029
- Offered at $4,546,000 with a 6.50% cap rate
Listing Contacts
Listed by Colliers - Pleasant Grove - Utah County, Utah
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$295,463.00
$24,621.92/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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