Property profile

55 Redwood Rd Salt Lake City, UT 84116

OFF-MARKET
Strip malls
Property ID
US86-0428797
26,194 SF 1.78 ac lot Built 1965
Entity Owned 6-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 3,000 square foot retail space at 55 N. Redwood Road in Salt Lake City, Utah, presents a unique opportunity. Currently configured as a restaurant, this turnkey storefront is ideal for a variety of uses, thanks to its CC zoning. The space is available for sublease with a lease expiration date in 2026. The property boasts a newly remodeled exterior, enhancing curb appeal and attracting customers. Ample parking is available for patrons and employees, a significant advantage in a busy urban area. The location benefits from high visibility due to its Redwood Road frontage, ensuring excellent exposure to potential customers. Note that the existing Somali restaurant business, including all equipment, is also available for purchase at $250,000. This turnkey setup offers a significant advantage for a buyer looking for an immediate start. The minimum divisible space is 3,000 square feet, and the maximum contiguous space available is also 3,000 square feet. This property is perfect for an established business seeking expansion or a new venture looking for a ready-to-go location in a thriving Salt Lake City neighborhood. The zip code is 84116.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1965
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 26,194 SF
Lot 1.78 ac (77,537 SF)
Zoning code CC
APN 08-34-382-008
UPID US86-0428797

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
  • Dental Office
  • Clothing Store
  • Restaurant
  • Bank Credit Union
  • Alternative Medicine Practice Spa & Massage Center

Location

55 Redwood Rd Salt Lake City, UT 84116-3121
Salt Lake City metro Census 100306 SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$910k
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.00M
Blend (final) Blend
$910k

Owner & transaction history

since 2020
4 recorded transactions
2020
Price N/A
2018
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

CC · Salt Lake City, 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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