Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    48 E State Rd Pleasant Grove, UT

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $33 SF/Yr

    Recently remodeled restaurant space with drive-thru and included FF&E.

    Type:RETAIL
    Property size:
    2,000 SF
    Lot size:
    0.38 Acres
    Added:
    Jul 23, 2025
    Days on Market:
    253
    Last Refresh:
    Mar 29 at 8:37 pm

    Property Features for 48 E State Rd

    General Information

    Standard status
    Active
    Size
    2,000 SF
    Lot size
    0.38 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 48 E State Rd Contact us

    We can help!

    Listing Contact
    JD Brisk

    Listing agent JD Brisk

    Listing office Colliers | Utah County

    Listing date Jul 23, 2025

    Source Moodyscre

    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 Colliers | Utah County

    Overview

    Remodeled Restaurant with Drive-Thru

    This 2,000 square foot restaurant property is available for rent. The space has been completely remodeled with new lighting, flooring, additional electrical outlets, paint, and compliant restrooms. A drive-thru with an ordering sign is present. The property includes a walk-in refrigerator and freezer, custom sandwich-style prep refrigerated units and counters, and a compartment sink, as well as other handwash and prep sinks. The usage of all FF&E on site, including tables, chairs, and counters, is included. The property is located near the busy intersection of PL Grove Main and State Streets. This property is suitable for drive-through restaurants and other retail purposes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Subway Take-out & Catering

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pleasant Grove
    County
    Utah
    State
    Utah
    Longitude
    -111.74
    Latitude
    40.3578

    Nearby Similar for Lease

    • $1.35/mo

      Office, Lab, Warehouse Flex Space

      4,773 SF flex space with office, lab, and warehouse.
      822 S 490 W, Pleasant Grove, UT
      View Details
    • $49/mo

      Retail Space with Drive-Thrus

      Retail space in a vibrant area with two drive-thrus.
      172 S Pleasant Grove Blvd, Pleasant Grove, UT 84062
      View Details
    • $1.50/mo

      Mixed-Use Destination in Utah County

      130-acre mixed-use destination with Class 'A' office and retail space.
      2415 W 700 S, Pleasant Grove, UT
      View Details
    • Contact for pricing

      Retail Space in Valley Grove

      Retail space available in a mixed-use Utah County destination.
      Pleasant Grove Blvd, Pleasant Grove, UT
      View Details
    • $30/mo

      Retail Units with Drive-Thru

      Retail units available for lease, one with drive-thru.
      2465 W 280 S, Pleasant Grove, UT
      View Details
    • $40/mo

      Retail Space in Pleasant Grove

      Retail space available in high-demand Pleasant Grove location.
      1262 Pleasant Grove Blvd, Pleasant Grove, UT
      View Details
    • $40/mo

      Retail Space in Pleasant Grove

      Retail space available in high-demand area near corporate offices.
      1288 Pleasant Grove Blvd, Pleasant Grove, UT
      View Details
    • $22/mo

      Office Space in Valley Grove

      Class A office space in a mixed-use community.
      2015 W Grove Pkwy, Pleasant Grove, UT
      View Details
    • Contact for pricing

      Retail Space I-15 Visibility

      Retail space with high traffic and I-15 visibility.
      1926 W Pleasant Grove Blvd, Pleasant Grove, UT
      View Details
    • $22/mo

      Pleasant Grove Office Space Available

      Office suites available with I-15 access and ample parking.
      2174 W Grove Pkwy, Pleasant Grove, UT
      View Details
    • $23/mo

      Office Space in Valley Grove

      Class A office space in a mixed-use Utah County park.
      1982 W Pleasant Grove Blvd, Pleasant Grove, UT
      View Details
    • $29/mo

      Office Space in Valley Grove

      Class A office space in a mixed-use community.
      1064 S N County Blvd, Pleasant Grove, UT
      View Details

    FAQs

    What type of property is this?
    Drive through restaurant - Recently remodeled restaurant space with drive-thru and included FF&E.
    Where is this drive through restaurant located?
    The property is located at 48 E State Rd Pleasant Grove, UT.
    What is the lease rate?
    The lease rate is $33 SF/Yr.
    What are key features of this property?
    This property features: Functioning Drive‑Thru with Ordering Sign; Completely Remodeled with New Lighting, Flooring, Paint, and Compliant Restrooms; Includes all FF&E (Furniture, Fixtures, and Equipment) such as tables, chairs, and counters
    (801) 610-1300
    We can help!
    Listing Contact
    JD Brisk
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!