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3540 S State St South Salt Lake, UT 84115

Drive through restaurants Google Maps
17,812 SF 0.92 ac lot Built 1974
Entity Owned 2-yr Hold Free & Clear
Estimated value (blended)
$1.07M
Range $959k – $1.17M (±10%)
Property ID US86-1468017

Property summary

AI-generated overview

This exceptional 17,612 square foot, two-story retail and restaurant space at 3540 South State Street in South Salt Lake, Utah, presents a unique investment opportunity. Currently undergoing a complete renovation, the property boasts a new roof, exterior, windows, entry doors, a new metal pan, and a poured concrete floor. The building, classified as Class C, was constructed in 1974 and features an elevator servicing both floors, a significant advantage for accessibility and multi-level operations. The 1.26-acre lot provides ample space, and the 13,000 square feet of vacant space is ready for immediate occupancy. The owner will deliver the space in a warm shell condition, allowing for tenant improvements to be negotiated to suit specific business needs. Potential uses are diverse, including a restaurant on the upper floor and an event center or club with bar and restrooms on the lower level. Located in Salt Lake County, with a convenient zip code of 84115, this property offers high visibility and accessibility in a thriving area. This single-tenant space is perfect for a business seeking a prominent location with significant square footage and the benefit of a recently completed renovation. Don't miss this chance to secure a prime retail or restaurant location in a rapidly developing area.

Property profile

Verified
Property type Drive through restaurants
Use group DRIVE-THRU RESTAURANT, FAST FOOD
Year built 1974
Construction WOOD FRAME
Total area 17,812 SF
Lot 0.92 ac (40,075 SF)
Zoning code CC
APN 16-31-151-070
UPID US86-1468017

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • (Bike/Boat/Book/etc) Store
  • Party Supply Store (Bike/Boat/Book/etc) Store
  • Big Box & Wholesale Store
  • Hat Shop
  • (Bike/Boat/Book/etc) Store

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$795k
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.34M
Blend (final) Blend
$1.07M

Owner & transaction history

since 2024
7 recorded transactions
2024
Price N/A
2024
Price N/A
2019
Price N/A
2017
Price N/A
2008
Price N/A
2007
Price N/A
2002
Price N/A

Zoning & alternative use

CC · South Salt Lake, UT

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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