Building Details

Year Built 2011

Listing Agency: Colliers | Utah County Show Phone

Listed By: James Bullington · License #UT 5472910-SA00 Show Phone

Source: Moodyscre

Added: Jul 10 Changed: Aug 10 Last Checked: Sep 8 at 10:57AM

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Investment Insights

Based on property information with market context.

This drive-thru restaurant building was constructed in 2011 and contains approximately 2,016 square feet. The property is currently occupied by GriDeli’s, with a tenant lease expiration in May 2031. Availability is listed at 2,016 square feet.

The site is offered for sale as Parcel #156050001, on a 0.40-acre lot. The property’s drive-thru configuration supports quick-service restaurant operations.

The building is marketed as a single tenant asset, with the current lease in place through May 2031. The listing also reports a 5.75% cap rate and a sales price of $880,000.

Key Highlights

• 2011‑built restaurant with a drive‑thru
• 2,016 SF available (2016 SF building size) on a 0.40‑acre parcel
• Currently leased to GriDeli’s through May 2031

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

$27,336

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

3.11%

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%

$546,720 $546.7K

Cap Rate 7%

$390,514 $390.5K

Cap Rate 9%

$303,733 $303.7K

Market Conditions

NOI Build-Up for 2,016 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

$39.2K $19.44/SF

− Vacancy

−$2.7K −$1.36/SF

EGI

$36.4K $18.08/SF

− OpEx

−$9.1K −$4.52/SF

NOI

$27.3K $13.56/SF

Area

Weber County, UT

Vacancy

7.00%

Lease Rate

$19.44 /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%

$546,720

Cap Rate 7%

$390,514

Cap Rate 9%

$303,733

Alternative Uses

Best Use

Specialty Retail

$390.5K

$341.7K – $455.6K (±1% cap)

NOI $27,336 @ 7.0% cap · market cap 3.11%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$465.0K

$406.9K – $542.5K (±1% cap)

NOI $32,548 @ 7.0% cap · market cap 3.70%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

GriDeli's Restaurant

Suggested Use

Top Pick Building Supply Hair Salon HVAC Service Spa & Massage Center Pharmacy Dental Office

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

128

Businesses Nearby

74k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 94% Dining 6%

C-A-L Ranch Stores Shops & Services

23,480 visits/mo 0.4 miles

Maverik Adventures First Stop Shops & Services

19,286 visits/mo 0.1 miles

Maverik Adventures First Stop Shops & Services

19,119 visits/mo 0.1 miles

Chevron Shops & Services

3,589 visits/mo 0.1 miles

Beans & Brews Dining

3,334 visits/mo 0.1 miles

Demographics for 84404, UT

66,382

Population

23,907

Households

2.8

Avg Household Size

32

Median Age

22%

College-Educated

89%

High-School Grad

96.3 sq mi

ZIP Area

689

Density / Sq Mi

$81,917

Median Household Income

$42,844

Median Earnings

$1,304

Median Rent

$352,700

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this drive through restaurants located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Drive through restaurant - 2011-built restaurant with drive-thru, currently leased to GriDeli’s through May 2031.

Where is this drive through restaurant located?

The property is located at 380 N 1900 West St Marriott Slaterville, UT.

What is the asking price?

The asking price for this property is $880,000.

What are key features of this property?

This property features: 2011‑built restaurant with a drive‑thru; 2,016 SF available (2016 SF building size) on a 0.40‑acre parcel; Currently leased to GriDeli’s through May 2031