Restaurant Building with Roll-Up
145 W Pierpont Ave Salt Lake City, UT 84101
For Sale
$3,150,000
Freestanding three-level restaurant building with three glass roll-up doors and 14' ceilings on the main level.
Property Size12,800 SF
Price / SF$246.09
Days on Market115
Property Features for 145 W Pierpont Ave
General Information
- Standard status
- Active
- Size
- 12,800 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1909
Listing Agency:
InterNet Properties
(801) 413-8902
Listed By:
Nico Priskos · License #8228033-SA00
(801) 413-8902
Source:
Iproperties
Added: Apr 1
Changed: Jul 23
Last Checked: Jul 23 at 3:07PM
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 InterNet Properties
Investment Insights
Based on property information with market context.
Freestanding 12,800 SF restaurant building with a history dating back to 1909. Zoned D-3, the property offers a versatile three-level layout, with the main level featuring (3) glass roll-up doors and lofty 14' ceilings. Existing kitchen hood and grease trap infrastructure are included, and the lower level has the ability to operate independently from the main/upper levels.
The property is located at 145 W Pierpont Ave in Salt Lake City, near the Salt Palace Convention Center, and within the area described as the Delta Center and an emerging downtown entertainment district.
With its established hospitality infrastructure and flexible, multi-level configuration, the building is set up for food-and-beverage concepts and other uses that can take advantage of the independent lower-level operation.
The property is located at 145 W Pierpont Ave in Salt Lake City, near the Salt Palace Convention Center, and within the area described as the Delta Center and an emerging downtown entertainment district.
With its established hospitality infrastructure and flexible, multi-level configuration, the building is set up for food-and-beverage concepts and other uses that can take advantage of the independent lower-level operation.
Key Highlights
- 12,800 SF freestanding, three‑level restaurant building (built 1909) with a versatile layout.
- Main level features 14' ceilings and three glass roll‑up doors for a prominent storefront entrance.
- Existing kitchen hood and grease trap infrastructure supports restaurant use.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $291.8k | $22.80 |
| − Vacancy | −$7.3k | −$0.57 |
| EGI | $284.5k | $22.23 |
| − OpEx | −$71.1k | −$5.56 |
| NOI | $213.4k | $16.67 |
12,800 SF · lease $22.80/SF/yr · vacancy 2.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$3.05M
$2.67M – $3.56M
NOI $213,408 @ 7.0% cap · market cap 6.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.45M
$3.02M – $4.02M
NOI $241,395 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
VAN Rental Salt ...
Car Rental Facility
FAQs
What type of property is this?
Conventional restaurant - Freestanding three-level restaurant building with three glass roll-up doors and 14' ceilings on the main level.
Where is this conventional restaurant located?
The property is located at 145 W Pierpont Ave Salt Lake City, UT.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: 12,800 SF freestanding, three‑level restaurant building (built 1909) with a versatile layout.; Main level features 14' ceilings and three glass roll‑up doors for a prominent storefront entrance.; Existing kitchen hood and grease trap infrastructure supports restaurant use.
