231 Edison St Ste C Salt Lake City, UT 84111-5279
- Turn key restaurants
- 4,915 SF
- 0.01 lot acres
Current Use by Public Records
- The Warhol Lofts / Apartment Building
- Franklin Ave Cocktails & Kitchen / Restaurant / Bar
Property Details for 231 Edison St Ste C
- Year built
- 1899
- Lot size
- 0.01 lot acres
- Property size
- 4,915 SF
- Zone code
- D-1
- Property type
- Turn key restaurants
- APN
- 16-06-186-009
- APU
- 1606186009
Description
This exceptional investment opportunity presents a thriving 5,706 square foot restaurant located at 231 S Edison St, Salt Lake City, UT 84111. The property, part of the prestigious Warhol Lofts building, is currently 100% occupied by Franklin Ave Cocktails & Kitchen under a triple-net (NNN) lease with a strong guarantor. The lease generates $173,376 annually, with a 6% cap rate and 3% annual rent increases. The lease extends until November 30th, 2033, with four 5-year renewal options, providing significant long-term stability. The asking price is $2,800,000, translating to $490.71 per square foot. This prime location in downtown Salt Lake City offers high visibility, significant foot traffic, and proximity to popular attractions and amenities. The property's historic charm and flexible floor plan present a unique opportunity for continued success. The property is zoned for retail and restaurant use, and potential exists for outdoor seating or display. This is a rare chance to acquire a high-performing asset in a desirable urban setting. The APN is 16-06-186-009.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Salt Lake City
- County
- Salt Lake
- State
- Utah
- Longitude
- -111.886
- Latitude
- 40.764
- CBSA code
- 41620
- CBSA name
- SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA
