Redwood Village
Redwood Village Shopping Center is a 96,615 SF stabilized retail property offered at $15,300,000 (7.7% cap, $1,176,483 NOI) in West Jordan, Utah. The center is anchored by Harbor Freight Tools and Dollar Tree, two nationally recognized, credit-backed tenants, and operates at 100% occupancy across 21 tenants. Built in 1986 and renovated in 2007, the asset sits on 10.24 acres at the intersection of Redwood Road and 7000 South, commanding 70,000 vehicles per day (44,000 VPD on Redwood Road, 26,000 VPD on 7000 South).
The property is priced at $158.36 per SF, a significant discount to the $450 per SF replacement cost for similar quality construction in West Jordan. Current in-place rents average $15.60 PSF against a market rent of $21.00 PSF, creating a compelling mark-to-market value-add opportunity as tenants' leases expire over the near term. The weighted average lease term is 4.62 years. The center benefits from dense residential rooftops within the Salt Lake Valley's fastest-growing submarket, with approximately 15,545 residents and $118,597 average household income within one mile. The trade area is anchored by Walmart Supercenter, Home Depot, and a broad retail ecosystem supporting long-term tenant performance.
- 100% occupied, 21-tenant diversified tenant roster anchored by Harbor Freight Tools and Dollar Tree
- 7.7% cap rate with $1.18M NOI on stabilized operations
- Below-market rents ($15.60 PSF) versus $21.00 PSF market rent; significant rent-up potential
- Priced 65% below replacement cost ($158.36/SF vs. $450/SF construction cost)
- 70,000 VPD on high-traffic Redwood Road corridor in fastest-growing Salt Lake Valley submarket
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Location
Redwood Village Shopping Center is strategically positioned along the high-traffic Redwood Road corridor in West Jordan, Utah, at the intersection of 7000 South & Redwood Road. Located in the heart of the Salt Lake Valley's fastest-growing residential base, the property benefits from dense rooftops, convenient freeway access, and a broad retail ecosystem.
- High-traffic Redwood Road corridor; 70,000 VPD total traffic (44,000 VPD on Redwood Rd, 26,000 VPD on 7000 South); proximity to major retailers and shopping centers; strong daytime and weekend consumer demand