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    Ephraim Retail Space with Drive-Thrus Title is generated by Realmo AI

    700 South Main Street, Ephraim, UT 84627

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    For Lease
    $38 SF/Yr $19,000/Mo (calc)

    Retail spaces with drive-thrus available in multi-use development.

    Type:Retail
    Property size:
    6,000 SF
    Added:
    Nov 21, 2025
    Days on Market:
    175
    Last Refresh:
    Dec 3 at 5:56 am

    Property Features for 700 South Main Street

    General Information

    Standard status
    Active
    Size
    6,000 SF
    Property subtype
    Retail

    Spaces For Lease

    at 700 South Main Street Contact us

    We can help!

    Listing Contact
    Lisa M Lipari
    Lisa M Lipari

    Listing agent Lisa M Lipari License #6501392805

    Listing office DOBI Real Estate

    Listing date Nov 21, 2025

    Source Naiglobal

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of DOBI Real Estate

    HighLights

    • Great location next to new Intermountain Health hospital and future trauma center.
    • Part of a large master‑planned community with significant residential development.
    • Located on Hwy 89 in Ephraim, the largest city in Sanpete County.
    • Proximity to Snow College with approximately 6,000 students.
    • Drive‑thru restaurant and buildings with drive‑thru options available.
    • New connecting intersection to Ephraim Canyon, providing access to outdoor recreation.

    Overview

    This multi-use development in Ephraim, UT, offers retail spaces suitable for drive-through restaurants. Building 1 offers spaces from 1,200 SF to 6,000 SF with two drive-thrus, and Building 2 also provides 1,200 SF to 6,000 SF spaces with two drive-thrus. Building 3 provides a 2,400 SF drive-thru restaurant space. Part of a 240-acre master-planned community, the location benefits from a new Intermountain Health hospital under construction next door. The property is located on Hwy 89 in the hub of Sanpete County, the largest city in the county. Snow College, with an enrollment of approximately 6,000 students, is nearby. The Ephraim LDS Temple is under construction and scheduled for completion in 2025. IHC has purchased 35 acres on the south end of town for a trauma center hospital with life flight, which is currently under construction. Ephraim Canyon provides access to the Arapeen ATV trail and other outdoor recreation activities. More than 700 households are being created in the Ephraim Crossing development, encompassing three single-family communities, three townhome communities, and an apartment development. Snow College is offering more four-year degrees every year.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center Hotel & Motel Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ephraim
    County
    Sanpete
    State
    Utah
    Longitude
    -111.58691
    Latitude
    39.372518

    Nearby Similar for Lease

    • Contact for pricing
      6,000 SF

      Ephraim Retail Space For Rent

      Retail spaces available in a multi-use development near Snow College.
      700 South Main Street, Ephraim, UT 84627
      View Details
    • $12 SF/Yr

      Ephraim Multi-Use Development Space

      Multi-use development space for rent in Ephraim, Utah.
      US-89, Ephraim, UT 84627
      View Details

    FAQs

    What type of property is this?
    Drive through restaurant - Retail spaces with drive-thrus available in multi-use development.
    Where is this drive through restaurant located?
    The property is located at 700 South Main Street Ephraim, UT.
    What is the lease rate?
    The lease rate is $38 SF/Yr.
    What are key features of this property?
    This property features: Great location next to new Intermountain Health hospital and future trauma center.; Part of a large master‑planned community with significant residential development.; Located on Hwy 89 in Ephraim, the largest city in Sanpete County.
    (248) 385-3350
    We can help!
    Listing Contact
    Lisa M Lipari
    Lisa M Lipari
    Real Estate License ID: 6501392805
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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