Freestanding Storefront
New
For Sale
$798,000
2943 E 3300 S, Millcreek, UT 84109
Existing signage, on-site parking, a grease trap, and potential for a drive-through support varied commercial configurations.
Property Size3,362 SF
Lot Size0.23 Acres
Price / SF$237.36
Days on Market3
Property Features for 2943 E 3300 S
General Information
Standard status
Active
Size
3,362 SF
Lot size
0.23 Acres
Property subtype
Retail
Additional Details
Pylon Signage
Yes
Taxes and HOA fees
Annual Taxes
$8,955
Amenities
dedicated turn lane
prominent street exposure
on-site parking
grease trap
Building Details
Building Size
3,362 SF
Year Built
1961
Buildings
1
Tenancy
Multi
Listing Agency:
Spark Realty, LLC
Listed By:
Christie Daugherty · License #8650059
(435) 229-1990
Source:
Acresutah
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 13 at 3:02PM
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 Spark Realty, LLC
Investment Insights
Based on property information with market context.
This freestanding commercial building contains approximately 3,362 square feet on approximately 0.23 acres and was built in 1961. The property is currently used for a dry cleaner, barber shop, and small food user. Existing improvements include on-site parking, freestanding signage, a dedicated turn lane, and prominent street exposure. A grease trap is in place, and the property has potential for a drive-through, subject to applicable approvals.
Located at 2943 E 3300 S in Millcreek, the building sits along the 3300 South corridor in the Canyon Rim area. Its zoning is described as supporting multiple uses, with any future application subject to governmental approval. The configuration may accommodate retail, professional office, personal-service, health and wellness, showroom, or specialty commercial uses, subject to verification and approval.
Located at 2943 E 3300 S in Millcreek, the building sits along the 3300 South corridor in the Canyon Rim area. Its zoning is described as supporting multiple uses, with any future application subject to governmental approval. The configuration may accommodate retail, professional office, personal-service, health and wellness, showroom, or specialty commercial uses, subject to verification and approval.
Key Highlights
- Approximately 3,362 square feet on approximately 0.23 acres
- Freestanding building at 2943 E 3300 S, Millcreek, UT 84109
- Current uses include a dry cleaner, barber shop, and small food user
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
$50,352
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
6.31%
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%
$1,007,040
$1.0M
Cap Rate 7%
$719,314
$719.3K
Cap Rate 9%
$559,467
$559.5K
Market Conditions
NOI Build-Up for 3,362 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
$73.8K $21.96/SF
− Vacancy
−$1.9K −$0.56/SF
EGI
$71.9K $21.40/SF
− OpEx
−$21.6K −$6.42/SF
NOI
$50.4K $14.98/SF
Area
Salt Lake County, UT
Vacancy
2.57%
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%
$1,007,040
Cap Rate 7%
$719,314
Cap Rate 9%
$559,467
Alternative Uses
Best Use
Retail
$719.3K
$629.4K – $839.2K
NOI $50,352 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$44.77M
$39.17M – $52.23M
NOI $3,133,639 @ 7.0% cap · market cap 392.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
489
Businesses Nearby
235k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 35%
Groceries 25%
Apparel 21%
Shops & Services 18%
Smith's
Groceries
56,107 visits/mo
0.4 miles
REI
Apparel
34,624 visits/mo
0.3 miles
McDonald's
Dining
23,521 visits/mo
0.3 miles
Smith's Fuel Center
Shops & Services
16,148 visits/mo
0.2 miles
Savers Thrift Store
Apparel
15,643 visits/mo
0.2 miles
Demographics for 84109, UT
24,768
Population
9,829
Households
2.5
Avg Household Size
37
Median Age
69%
College-Educated
99%
High-School Grad
57.0 sq mi
ZIP Area
435
Density / Sq Mi
$136,823
Median Household Income
$63,758
Median Earnings
$1,584
Median Rent
$679,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Existing signage, on-site parking, a grease trap, and potential for a drive-through support varied commercial configurations.
Where is this storefront property located?
The property is located at 2943 E 3300 S Millcreek, UT.
What is the asking price?
The asking price for this property is $798,000.
What are key features of this property?
This property features: Approximately 3,362 square feet on approximately 0.23 acres; Freestanding building at 2943 E 3300 S, Millcreek, UT 84109; Current uses include a dry cleaner, barber shop, and small food user
