Drive-Through Restaurant with
248 W Center St, Salem, UT 84653
For Sale
$1,550,000
Pending
Operational restaurant includes inside dining and a drive-thru window, with real estate and equipment/fixtures included.
Property Size4,054 SF
Days on Market1616
Property Features for 248 W Center St
General Information
Standard status
Size
Additional Details
Business Included
Highway Access
Taxes and HOA fees
Annual Taxes
Listing Agency:
Charles Wixom Realty
Listed By:
Charles T Wixom · License UT #5468729
(801) 372-3481
Source:
Exprealty
Added: Jun 13, 2022
Changed: Nov 10
Last Checked: Nov 12 at 12:23PM
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 Charles Wixom Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a fully operational, leased restaurant property with improvements and equipment in place. The facility supports both inside sit-down dining and service through a drive-thru window. Purchase pricing includes the real estate along with the equipment and fixtures, and the tenant also has an option to purchase.
The property is located adjacent to Salem Hills High School and along Highway 198 running through Salem. It is currently in operation as Stan's Drive In, with a well-established client base noted in the available remarks.
The building is approximately 4,054 square feet based on a courtesy estimate from Utah County Records; buyers are advised to verify dimensions through an independent measurement.
The property is located adjacent to Salem Hills High School and along Highway 198 running through Salem. It is currently in operation as Stan's Drive In, with a well-established client base noted in the available remarks.
The building is approximately 4,054 square feet based on a courtesy estimate from Utah County Records; buyers are advised to verify dimensions through an independent measurement.
Key Highlights
- Fully operational restaurant and retail/restaurant business with inside sit‑down dining and a drive‑thru window
- 4,054 SF building (courtesy estimate from Utah County Records; buyer to verify)
- Leased for 3 years, with tenant option to purchase
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,703
Cap Rate
4.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,454,060
$1.5M
Cap Rate 7%
$1,038,614
$1.0M
Cap Rate 9%
$807,811
$807.8K
Market Conditions
NOI Build-Up for 4,054 SF
Gross rent
$101.2K $24.96/SF
− Vacancy
−$4.2K −$1.05/SF
EGI
$96.9K $23.91/SF
− OpEx
−$24.2K −$5.98/SF
NOI
$72.7K $17.93/SF
Area
Utah County, UT
Vacancy
4.20%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,454,060
Cap Rate 7%
$1,038,614
Cap Rate 9%
$807,811
Alternative Uses
Best Use
Specialty Retail
$1.04M
$908.8K – $1.21M
NOI $72,703 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$977.8K – $1.30M
NOI $78,226 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
271
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Exxon
Shops & Services
5,549 visits/mo
0.3 miles
Demographics for 84653, UT
11,103
Population
3,235
Households
3.4
Avg Household Size
30
Median Age
41%
College-Educated
98%
High-School Grad
16.1 sq mi
ZIP Area
690
Density / Sq Mi
$111,420
Median Household Income
$48,182
Median Earnings
$1,581
Median Rent
$569,300
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 West region
Frequently Asked Questions
What type of property is this?
Drive through restaurant - Operational restaurant includes inside dining and a drive-thru window, with real estate and equipment/fixtures included.
Where is this drive through restaurant located?
The property is located at 248 W Center St Salem, UT.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Fully operational restaurant and retail/restaurant business with inside sit‑down dining and a drive‑thru window; 4,054 SF building (courtesy estimate from Utah County Records; buyer to verify) ; Leased for 3 years, with tenant option to purchase
