Tractor Supply Stansbury Park/Tooele Utah

Description:

The subject property is a 21,930 square foot retail store built in 2014 and opened in February, 2015. Located in Tooele, a rural town, Tractor Supply benefits from the tremendous growth in the area: 11.7% in 1 mile over the next 5 years. There is approximately 5 years left on the base term of an original 15 year lease with 4 x 5 year options and 10% increases every 5 years including the option periods. The next increase is March 1, 2025. The tenant is on a Double Net lease. The Landlord is responsible for roof, structure, parking lot, and general liability insurance. The tenant is responsible for all other expenses. The property is located on the northwest corner of State Highway 36 and State Highway 138 which report a combined traffic count of over 33,000 cars per day. Nearby Highway 80 is a direct connection to nearby Salt Lake City.


Tooele, Utah, presents a compelling proposition for anyone considering owning retail property, thanks to its unique blend of small-town charm, strategic location, economic vitality, and access to outdoor adventures. Nestled in the western part of Utah, Tooele offers a strategic location that is conveniently close to Salt Lake City, being just a 30-minute drive away. This proximity to the state's capital and largest city enhances its appeal, providing easy access to a larger metropolitan area while maintaining its distinct, less congested identity. The location is ideal for businesses aiming to serve both local residents and those from the surrounding areas, including the influx of tourists heading to the Great Salt Lake and beyond. Tooele has been experiencing steady growth, both in terms of population and economic development. This growth translates into increasing demand for retail, services, and amenities, making it an opportune time to invest in retail property. The community is supportive of local businesses, and there's a strong emphasis on economic development initiatives aimed at fostering a healthy business environment. This growth mindset not only promotes local patronage but also attracts visitors from neighboring regions, adding to the customer base. Tooele is renowned for its vibrant local culture and array of events throughout the year, including the famous Tooele County Fair, car races at the Utah Motorsports Campus, and various cultural festivals. These events draw crowds from all over, providing retail property owners with unique opportunities to capitalize on increased foot traffic and visibility. The local culture is steeped in history and pride, with numerous historical sites and museums that celebrate Tooele's rich heritage, adding depth to the retail experience. One of the most enticing aspects of Tooele is its access to unparalleled outdoor recreation. From the stunning Oquirrh Mountains to the vast expanses of the Great Salt Lake, the area is a haven for outdoor enthusiasts. Activities such as hiking, biking, camping, and water sports are readily accessible, attracting a diverse group of visitors year-round. Retail properties that cater to these outdoor lifestyles can tap into a niche market that values high-quality gear, apparel, and related services. Tooele is recognized for its welcoming, family-friendly atmosphere, making it an ideal place for businesses that cater to families and individuals seeking a community-oriented lifestyle. The area boasts excellent schools, parks, and community centers, fostering a strong sense of community. Retail properties that provide family-centric products and experiences will find a receptive and loyal customer base.



Price: $5,000,000
Cap Rate: Call to discuss
NOI: Call to discuss
10% rent increase in March, 2025
Rare Signalized Corner Location
NN Lease (Landlord responsible for Roof, Structure, and Parking Lot)
High traffic thoroughfare: ~58,105 VPD (CoStar 2022)
High Income: $104,901 (1 mile)
21,930 SF building on 175,982 SF/ 4.04 A lot