Freestanding Two-Story Restaurant
For Sale
Contact for pricing
202 W Broadway, Salt Lake City, UT 84101
Restaurant property with a large equipped kitchen, elevator, and ADA access in a downtown setting.
Property Size10,000 SF
Price / SF$290
Days on Market225
Property Features for 202 W Broadway
General Information
Standard status
Active
Size
10,000 SF
Property subtype
RETAIL
Restaurant
Commercial Hood
Yes
Grease Trap
Yes
Amenities
Elevator
ADA Access
Building Details
Stories
2
Listing Agency:
InterNet Properties
Listed By:
Nico Priskos · License #9181934-SA00
(801) 355-0600
Source:
Moodyscre
Added: Feb 2
Changed: Sep 7
Last Checked: Sep 14 at 10:15AM
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 restaurant building totaling 10,000 square feet with a two-story layout, elevator, and ADA access. The property includes a large kitchen with hoods, a grease trap, walk-in cooler, walk-in freezer, and other equipment in place.
The building is located at 202 W Broadway in Salt Lake City, with prominent signage facing 200 West and 300 South. It is near the proposed entertainment district, convention center, theaters, and other downtown amenities.
The building is located at 202 W Broadway in Salt Lake City, with prominent signage facing 200 West and 300 South. It is near the proposed entertainment district, convention center, theaters, and other downtown amenities.
Key Highlights
- 10,000‑square‑foot freestanding restaurant building
- Two‑story layout with elevator and ADA access
- Large kitchen with hoods and grease trap
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
$166,725
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
5.75%
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%
$3,334,500
$3.3M
Cap Rate 7%
$2,381,786
$2.4M
Cap Rate 9%
$1,852,500
$1.9M
Market Conditions
NOI Build-Up for 10,000 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
$228.0K $22.80/SF
− Vacancy
−$5.7K −$0.57/SF
EGI
$222.3K $22.23/SF
− OpEx
−$55.6K −$5.56/SF
NOI
$166.7K $16.67/SF
Area
Salt Lake City, UT
Vacancy
2.50%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
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%
$3,334,500
Cap Rate 7%
$2,381,786
Cap Rate 9%
$1,852,500
Alternative Uses
Best Use
Specialty Retail
$2.38M
$2.08M – $2.78M
NOI $166,725 @ 7.0% cap · market cap 5.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.69M
$2.36M – $3.14M
NOI $188,590 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Commercial hood
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
6,717
Businesses Nearby
335k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 31%
Dining 28%
Apparel 28%
Shops & Services 13%
Nordstrom
Apparel
93,717 visits/mo
0.4 miles
McDonald's
Dining
41,636 visits/mo
0.3 miles
Building At 60 Exchange Pl
Hotels & Casinos
21,123 visits/mo
0.5 miles
Maverik Adventures First Stop
Shops & Services
18,366 visits/mo
0.4 miles
Panda Express
Dining
15,415 visits/mo
0.4 miles
Demographics for 84101, UT
8,140
Population
5,605
Households
1.5
Avg Household Size
34
Median Age
51%
College-Educated
95%
High-School Grad
1.8 sq mi
ZIP Area
4,522
Density / Sq Mi
$70,391
Median Household Income
$55,238
Median Earnings
$1,336
Median Rent
$541,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Conventional restaurant - Restaurant property with a large equipped kitchen, elevator, and ADA access in a downtown setting.
Where is this conventional restaurant located?
The property is located at 202 W Broadway Salt Lake City, UT.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 10,000‑square‑foot freestanding restaurant building; Two‑story layout with elevator and ADA access; Large kitchen with hoods and grease trap
