Steele Ridge Plaza Building #2
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
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