Renovated Laundromat Retail
For Sale
$500,000
1962 S 1100 E, Salt Lake City, UT 84119
Operating self-service laundry business with upgraded equipment and remote management capabilities at an established leased site.
Property Size2,089 SF
Price / SF$239.35
Days on Market15
Property Features for 1962 S 1100 E
General Information
Standard status
Active
Size
2,089 SF
Additional Details
Business Included
Yes
Building Details
Year Built
1990
Listing Agency:
Colliers International LLC (Wasatch)
(801) 420-0137
Listed By:
Dan Ford · License #5503930
Source:
Thehonorgrouputah
Added: Aug 16
Changed: Aug 29
Last Checked: Aug 25 at 5:40AM
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 Colliers International LLC (Wasatch)
Investment Insights
Based on property information with market context.
This 2,089-square-foot retail space supports an operating laundromat business at 1962 S 1100 E in Salt Lake City. The location was renovated and outfitted with high-efficiency laundry machines connected to management software for monitoring performance, usage, and operations remotely through a smartphone or computer with internet access.
The offering consists of the leasehold interest only; the underlying real estate is excluded. The transaction includes the business, FF&E, furniture, fixtures, equipment, and operating systems in place, subject to the existing long-term lease. Constructed in 1990, the property provides an established setting for continued self-service laundry operations.
The offering consists of the leasehold interest only; the underlying real estate is excluded. The transaction includes the business, FF&E, furniture, fixtures, equipment, and operating systems in place, subject to the existing long-term lease. Constructed in 1990, the property provides an established setting for continued self-service laundry operations.
Key Highlights
- 2,089 SF retail space at 1962 S 1100 E, Salt Lake City, UT 84119
- Leasehold interest only; real property is not included
- Operating laundromat business with FF&E included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,213
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$624,260
$624.3K
Cap Rate 7%
$445,900
$445.9K
Cap Rate 9%
$346,811
$346.8K
Market Conditions
NOI Build-Up for 2,089 SF
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.
Gross rent
$45.9K $21.96/SF
− Vacancy
−$1.3K −$0.61/SF
EGI
$44.6K $21.35/SF
− OpEx
−$13.4K −$6.40/SF
NOI
$31.2K $14.94/SF
Area
Salt Lake City, UT
Vacancy
2.80%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$624,260
Cap Rate 7%
$445,900
Cap Rate 9%
$346,811
Alternative Uses
Best Use
Retail
$445.9K
$390.2K – $520.2K
NOI $31,213 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$562.8K
$492.5K – $656.6K
NOI $39,396 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,467
Businesses Nearby
393k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Groceries 18%
Apparel 12%
Shops & Services 11%
Chick-fil-A
Dining
44,413 visits/mo
0.2 miles
Smith's
Groceries
40,671 visits/mo
0.4 miles
Whole Foods Market
Groceries
31,058 visits/mo
0.2 miles
Nordstrom Rack
Apparel
29,585 visits/mo
0.3 miles
Olive Garden
Dining
29,227 visits/mo
0.4 miles
Demographics for 84119, UT
54,143
Population
16,811
Households
3.2
Avg Household Size
31
Median Age
16%
College-Educated
79%
High-School Grad
11.5 sq mi
ZIP Area
4,708
Density / Sq Mi
$66,616
Median Household Income
$35,676
Median Earnings
$1,418
Median Rent
$341,800
Median Home Value
Market
Vacancy Rate% for Retail in Salt Lake City, UT
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Operating self-service laundry business with upgraded equipment and remote management capabilities at an established leased site.
Where is this retail space located?
The property is located at 1962 S 1100 E Salt Lake City, UT.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 2,089 SF retail space at 1962 S 1100 E, Salt Lake City, UT 84119; Leasehold interest only; real property is not included; Operating laundromat business with FF&E included
