Freestanding Drive-Through
For Sale
Contact for pricing
3020 Highland Drive, Salt Lake City, UT 84106
Freestanding restaurant building with a dedicated drive-through window for customer service and pickup.
Property Size9,890 SF
Price / SF$212.34
Days on Market82
Property Features for 3020 Highland Drive
General Information
Standard status
Active
Size
9,890 SF
Property subtype
Retail
Listing Agency:
Newmark Mountain West
Listed By:
J.R. Moore · License #UT 5485725-SA00
(801) 550-2030
Source:
Crexi
Added: Jun 18
Changed: Sep 4
Last Checked: Sep 7 at 9:51AM
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 Newmark Mountain West
Investment Insights
Based on property information with market context.
This freestanding restaurant building includes a drive-through feature, supporting efficient customer ordering and pickup. The property is offered for sale as a standalone commercial asset.
Located at 3020 Highland Drive in Salt Lake City, Utah, the site is positioned for straightforward access and operational flow associated with drive-through restaurant use.
With a commercial restaurant configuration and drive-through functionality, the building is suited for operators seeking an on-site service model designed around vehicle-based service.
Located at 3020 Highland Drive in Salt Lake City, Utah, the site is positioned for straightforward access and operational flow associated with drive-through restaurant use.
With a commercial restaurant configuration and drive-through functionality, the building is suited for operators seeking an on-site service model designed around vehicle-based service.
Key Highlights
- Freestanding restaurant building
- Dedicated drive‑through window for customer service and pickup
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
$164,891
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
7.85%
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%
$3,297,820
$3.3M
Cap Rate 7%
$2,355,586
$2.4M
Cap Rate 9%
$1,832,122
$1.8M
Market Conditions
NOI Build-Up for 9,890 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
$225.5K $22.80/SF
− Vacancy
−$5.6K −$0.57/SF
EGI
$219.9K $22.23/SF
− OpEx
−$55.0K −$5.56/SF
NOI
$164.9K $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%
$3,297,820
Cap Rate 7%
$2,355,586
Cap Rate 9%
$1,832,122
Alternative Uses
Best Use
Specialty Retail
$2.36M
$2.06M – $2.75M
NOI $164,891 @ 7.0% cap · market cap 7.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.66M
$2.33M – $3.11M
NOI $186,516 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,207
Businesses Nearby
292k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 23%
Shops & Services 22%
Groceries 19%
Dining 18%
Harmons Grocery
Groceries
56,661 visits/mo
0.3 miles
The Home Depot
Home Improvements & Furnishings
41,775 visits/mo
0.5 miles
Kohl's
Apparel
34,713 visits/mo
0.4 miles
Ross Dress for Less
Apparel
32,058 visits/mo
0.4 miles
Five Below
Shops & Services
22,852 visits/mo
0.3 miles
Demographics for 84106, UT
35,892
Population
16,782
Households
2.1
Avg Household Size
35
Median Age
57%
College-Educated
97%
High-School Grad
6.0 sq mi
ZIP Area
5,982
Density / Sq Mi
$94,452
Median Household Income
$56,358
Median Earnings
$1,576
Median Rent
$529,100
Median Home Value
Market
Vacancy Rate% for Retail in Salt Lake City, UT
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Drive through restaurant - Freestanding restaurant building with a dedicated drive-through window for customer service and pickup.
Where is this drive through restaurant located?
The property is located at 3020 Highland Drive Salt Lake City, UT.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Freestanding restaurant building; Dedicated drive‑through window for customer service and pickup
