331 Main St Salt Lake City, UT 84111-2702
Property profile & analytics
331 Main St Salt Lake City, UT 84111-2702
- Turn key restaurants
- 5,434 SF
- 0.08 lot acres
Property ID
US86-0198227
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Bodega and The Rest / Bar & Pub / Nightclub
- Bodega / Bar & Pub
Property Details for 331 Main St
- Year built
- 1908
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.08 lot acres
- Property size
- 5,434 SF
- Zone code
- D-1
- Property type
- Turn key restaurants
- APN
- 16-06-301-006
- APU
- 1606301006
Description
This exceptional opportunity presents a thriving bar and restaurant for sale in Salt Lake City's vibrant downtown core, located at 331 Main St, Salt Lake City, UT 84111. The 5,700 square foot establishment, housed in a beautifully renovated 1908 building (completely overhauled in 2015 with new electrical, plumbing, HVAC, roof, and more), boasts a prime location on Main Street, benefiting from high foot traffic directly below the Wells Fargo building. The property includes a valuable liquor license and features a large commercial kitchen, ample storage, and a unique downstairs vault. The business itself enjoys an impressive 845+ Google reviews averaging 4.5 stars. Currently operating under a Net Lease (NNN) agreement, the property offers significant upside potential. The current NOI is $41,000, but a pro-forma NOI of $210,000 is projected, reflecting a potential 7.24% cap rate. The asking price is $2,900,000, representing a price per square foot of $508.77. The property sits on a 0.08-acre lot and is zoned D-1 (CBD) Commercial. An assumable SBA loan with a 5.57% interest rate (variable after January 2026) is available, with $748,000 remaining on a 20-year loan maturing in 2034. The building features a new membrane roof (2023) and new HVAC (2022). Street and garage parking are available, with a yearly $200 freight license for street parking directly in front of the establishment. The seller is motivated and may consider financing options with a strong offer. This is a rare opportunity to acquire a well-established, high-potential business and real estate asset in a desirable location.
Value Estimations
based on Realmo’s proprietary methodology
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Salt Lake City
- County
- Salt Lake
- State
- Utah
- Longitude
- -111.891
- Latitude
- 40.7619
- CBSA code
- 41620
- CBSA name
- SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$13,740
$328,300
$1,061,500
$1,389,800
-
$328,300
$1,061,500
$1,389,800
