Building Details

Building Size 1,678 SF

Year Built 1889

Listing Agency: NAI Excel

Listed By: Aaron Edgley · License #10524076-SA00 Show Phone

Source: Naiglobal

Added: Sep 4 Last Checked: Oct 23 at 4:08AM

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Investment Insights

Based on property information with market context.

Constructed in 1889, this historic commercial building is positioned for restaurant use and also supports other retail applications. The property includes an additional one-bedroom, one-bathroom apartment that provides rentable space beyond the main commercial area.

The building sits within Santa Clara Historic District on a tree-lined street, directly across from Historic Frei’s Market. City-approved vacation-rental zoning adds another documented use designation for the property.

Key Highlights

• 1889 historic building in Santa Clara Historic District
• City‑approved vacation‑rental zoning
• Former restaurant property with other retail uses supported

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,345

Cap Rate

6.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$646,900 $646.9K

Cap Rate 7%

$462,071 $462.1K

Cap Rate 9%

$359,389 $359.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,678 SF

Gross rent

$43.7K $26.04/SF

− Vacancy

−$568 −$0.34/SF

EGI

$43.1K $25.70/SF

− OpEx

−$10.8K −$6.43/SF

NOI

$32.3K $19.28/SF

Area

Washington County, UT

Vacancy

1.30%

Lease Rate

$26.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$646,900

Cap Rate 7%

$462,071

Cap Rate 9%

$359,389

Alternative Uses

Best Use

Specialty Retail

$462.1K

$404.3K – $539.1K (±1% cap)

NOI $32,345 @ 7.0% cap · market cap 6.47%

Second Best

Retail

$295.4K

$258.5K – $344.6K (±1% cap)

NOI $20,678 @ 7.0% cap · market cap 4.14%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Rylu's Bistro Restaurant

Suggested Use

Top Pick Law Firm Restaurant Real Estate Agency Building Supply Parking Lot & Garage HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

215

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 84765, UT

7,593

Population

2,867

Households

2.6

Avg Household Size

34

Median Age

35%

College-Educated

93%

High-School Grad

48.1 sq mi

ZIP Area

158

Density / Sq Mi

$93,083

Median Household Income

$32,210

Median Earnings

$1,912

Median Rent

$509,600

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Historic commercial property with approved vacation-rental zoning and an accompanying one-bedroom apartment.

Where is this conventional restaurant located?

The property is located at 2862 Santa Clara Dr Santa Clara, 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: 1889 historic building in Santa Clara Historic District; City‑approved vacation‑rental zoning; Former restaurant property with other retail uses supported