1499 S State St - Fast Food FOR SALE


Salt Lake City, UT 84115- Liberty Wells
$1,350,000 USD
801-879-7870
1499 S State St, Salt Lake City, UT for Sale
$1,350,000 USD
Fast Food - FOR SALE
1/3
null | 5.11% Cap Rate

1499 S State St
Salt Lake City, UT 84115
Liberty Wells


HIGHLIGHTS

  • Hard Corner Lot with Excellent Visibility
  • Rare Freestanding Building with Drive-Thru
  • High Traffic Counts

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$589 USD /SF

CAP RATE

5.11%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1968

SPRINKLERS

-

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,810 SF

ZONING

2000

APN/PARCEL ID

16-18-106-004-0000

ASK ABOUT THIS PROPERTY

Chris MetosInterNet Properties, Inc.More Info
801-879-7870

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Chris MetosInterNet Properties, Inc.More Info
801-879-7870

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.