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5934 S COUGAR LN, Kearns, UT 84118
$2,500,000
5934 S COUGAR LN, Kearns, UT 84118
Subtype
Retail
Building SF
9,020
$/SF
$277
Lot
1.44 ac
Property Details
Description
Generational land-banking and premier urban infill redevelopment opportunity positioned directly in the path of the 2034 Olympic legacy expansion. Encompassing 1.44 contiguous acres (62,726 Total Lot Square Feet)($39.83 per sq ft), this premier land parcel features an unmatched location profile: the south edge sits on a commanding corner lot at 4800 W Cougar Lane and Stone Ledge Cove, while the entire north border directly aligns with the beautiful city park next door to the world-renowned Utah Olympic Oval. Offered at an attractive land basis of $39.83 per square foot ($1,736,111 per acre), this rare gateway site represents the ultimate "Covered Land Play." The property is currently zoned as residential multifamily and features two homes with 5934 S & 5930 S with 6 updated condo style units encompassing a total of 10 bedrooms and 12 bathrooms, complemented by two substantial outdoor two-level storage units. This turnkey configuration is fully occupied and generates a steady $11,500 in monthly gross revenue ($138,000 annualized). This reliable, in-place cash flow allows an incoming developer to comfortably absorb the property's standard operating outlays and carrying costs, while navigating the engineering and municipal zoning and entitlement phases. Conceptual architectural design drawings to scale the site into a high-density mixed use / residential multifamily condo complex have earlier been discussed with municipal planning officials, receiving enthusiastic preliminary interest and pro-growth support for community housing revitalization. Review the attached conceptual drawings to see the immense potential for an expansive multi-use retail / condominium block or high-density luxury townhome footprint that blends seamlessly with the adjacent park. Flat, clear topography perfectly suited for the global spotlight of the 2034 Olympic cycle, with rapid logistical access to 5400 South, South Valley Regional Airport, and Salt Lake City International Airport. Owner agent. Property is actively occupied and requires at least 24 hours showing notice; please do not disturb tenants. Square footage figures are provided as a courtesy estimate only and was obtained from County. Buyer to verify all info, and is also advised to obtain an independent measurement.
Listed by Wendy Bradshaw · Platinum Place Realty
Location
5934 S COUGAR LN, Kearns, UT 84118
Cap Rate Calculator
Underwrite this property at a glance. Adjust NOI, vacancy, and OpEx to model your own assumptions.
Cap Rate
5.25%
$/SF
$277
GRM
11.8
Cap rate estimates are based on assumptions, not guaranteed, and should not be relied upon. Buyers must verify all information — including NOI, OpEx, lease terms, and rent rolls — directly with the seller or listing agent.
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© 2026 UtahRealEstate.com. All rights reserved. Based on information from the Wasatch Front Regional Multiple Listing Service, Inc. as of 9/9/2026, 7:55:15 PM. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or the MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing data provided by UtahRealEstate.com.