Listed by SRS Real Estate Partners Salt Lake City
$6,200,000
Church & State Marketplace
Details
APN 16-06-328-026
Property Type Retail, Mixed Use
Sub Type Shopping Center
Square Footage 21,328
Cap Rate 3%
NOI $186,000
Tenancy Multi
Price per SqFt $291
Year Built 1893
Year Renovated 2007
Acreage 0.220
Investment Type Stabilized
Ground Lease No
Ownership Fee Simple (Land & Building Ownership)
Retail | 3.00% CAP | 21,328 SqFt
Investment highlights
- Originally constructed in 1893 and thoughtfully renovated in 2007, Church & State is one of downtown Salt Lake City's most iconic and irreplaceable assets. Its historic brick construction, soaring ceilings, and distinctive architecture cannot be replicated by new development at any price.
- The property operates as a curated, multi-tenant marketplace featuring local artisans, wellness practitioners, food and beverage operators, and independent retailers — a format that continues to outperform as consumers prioritize authentic, experiential destinations over conventional retail. This tenant diversity creates natural resilience against leasing volatility.
- Church & State functions as a true community destination, generating repeat visitation and deep neighborhood loyalty that institutionally tenanted assets rarely achieve. This organic demand for space creates meaningful tenant stickiness and long-term occupancy stability.
- Salt Lake City will host the 2034 Winter Olympics, a generational catalyst expected to drive billions in infrastructure investment and significantly elevate the city's global profile. The downtown core and Central City submarket are positioned as direct beneficiaries of rising rents, increased tourism, and accelerating urban demand.
- Salt Lake City consistently ranks among the fastest-growing U.S. metros, supported by a young educated workforce, an expanding technology and life sciences sector, and sustained inbound migration. These macroeconomic tailwinds provide a strong foundation for long-term NOI growth at Church & State.
Listing Contacts
Listed by SRS Real Estate Partners Salt Lake City
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$186,000.00
$15,500.00/mo
Valuation Metrics
0
DSCR
3%
Cap Rate
3%
ROI
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