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1499 S State St 2,604 SF Retail Building Salt Lake City, UT 84115 $1,857,087 CAD ($713.17 CAD/SF) 5.11% Cap Rate
INVESTMENT HIGHLIGHTS
- Hard Corner Lot with Excellent Visibility
- High Traffic Counts
- Rare Freestanding Building with Drive-Thru
EXECUTIVE SUMMARY
This quietly marketed property offers prime visibility and accessibility on a hard corner. Equipped with an existing drive-thru, it boasts high average traffic counts of 25,000+ cars/day along State Street. Currently leased with a lease expiration of January 31, 2029, and no options in place, it generates a steady NOI of $68,921/year with an in-place CAP rate of 5.11%. With 20 on-site parking stalls, including 1 ADA stall, this property presents an exceptional investment opportunity in the thriving SLC market.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,604 SF
Building Class
C
Year Built
1968
Price
$1,857,087 CAD
Price Per SF
$713.17 CAD
Cap Rate
5.11%
NOI
$94,809 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
0.34 AC
Zoning
2000
Parking
8 Spaces (3.07 Spaces per 1,000 SF Leased)
Frontage
53’ on S State St
AMENITIES
- Bus Line
- Signage
Walk Score®
Walker's Paradise (91)
Bike Score®
Very Bikeable (89)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 16-18-106-004-0000 | Improvements Assessment | $477,368 CAD |
| Land Assessment | $968,367 CAD | Total Assessment | $1,445,734 CAD |
PROPERTY TAXES
Parcel Number
16-18-106-004-0000
Land Assessment
$968,367 CAD
Improvements Assessment
$477,368 CAD
Total Assessment
$1,445,734 CAD
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1499 S State St
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