Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    57 Ctr St Midvale, UT 84047-7363

    • Drive through restaurants
    • 900 SF
    • 0.33 lot acres
    OFF-MARKET
    Last Sale
    Nov 25, 2024
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0697776
    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.

    Current Use by Public Records

    • Drive through restaurants

    Property Details for 57 Ctr St

    Year built
    1956
    Lot size
    0.33 lot acres
    Property size
    900 SF
    Zone code
    TOD
    Property type
    Drive through restaurants
    APN
    21-25-481-016
    APU
    2125481016

    Description

    This exceptional investment opportunity presents a fully leased 900-square-foot restaurant building situated on a 0.33-acre lot at 57 W Center St, Midvale, UT 84047. The property boasts a strong location, benefiting from high visibility and significant foot traffic due to its proximity to a TRAX light rail station and the bustling State Street retail corridor, which sees over 30,000 vehicles daily. Currently operating as M&C Burger under a 5-year NNN lease (expiring 02/27/2029), the property offers a current NOI of $35,820 and a 5.97% cap rate. The pro-forma NOI is projected at $75,000, representing a 12.50% pro-forma cap rate. The lease includes 3% annual rent increases. Built in 1956, this single-story building features a drive-thru window, maximizing sales potential. The property's small but functional interior complements the efficient drive-thru operation. The asking price is $600,000, translating to $666.67 per square foot and $41 per square foot for the land. This presents a compelling opportunity for investors seeking a stable, high-traffic location with significant upside potential. The property is zoned commercial and enjoys excellent visibility thanks to a large pylon sign. The lease commenced on February 29, 2024, and the tenant has no credit rating. This is a single-tenant property with no lease options.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Midvale
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.893
    Latitude
    40.6107
    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
    $3,877
    $248,000
    $98,900
    $346,900
    -
    $248,000
    $98,900
    $346,900

    Comparable in this City

    • Value Estimation
      $645,000
      3,355 SF

      890 Ft Un Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,355 SF
      890 Ft Un Blvd, Midvale, UT 84047-1745
      View Details
    • Value Estimation by Request
      2,788 SF

      7149 Bingham Jct Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,788 SF
      7149 Bingham Jct Blvd, Midvale, UT 84047-4756
      View Details
    • Value Estimation
      $570,000
      4,323 SF

      911 Ft Un Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,323 SF
      911 Ft Un Blvd, Midvale, UT 84047-2397
      View Details
    • Value Estimation by Request
      1,819 SF

      7793 State St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,819 SF
      7793 State St, Midvale, UT 84047-3254
      View Details
    • Value Estimation by Request
      130,964 SF

      7200 700

      Restaurants • 130,964 SF
      7200 700, Midvale, UT 84047
      View Details
    • Value Estimation by Request
      4,160 SF

      7165 Bingham Jct Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,160 SF
      7165 Bingham Jct Blvd, Midvale, UT 84047-4756
      View Details

    Similar Nearby for Sale

    • $2,500,000
      4,060 SF

      Restaurant Property in High-Traffic Area

      4,500 SF restaurant on 1.08 acres with ample parking.
      7495 S Union Park Ave, Midvale, UT 84047
      View Details
    • $1,500,000
      0.18 Acres

      Turn-Key Business Opportunity in Midvale

      Established business for sale with building, land, license, and assets.
      7654 S Main St, Midvale, UT 84047
      View Details
    • $1,500,000
      0.12 Acres

      Turn-Key Restaurant Business For Sale

      Established restaurant with building, land, license, and assets included.
      7660 S Main St, Midvale, UT 84047
      View Details
    • $5,750,000
      9,050 SF

      Multi-Tenant Investment Property For Sale

      Multi-tenant investment property with national tenants in Midvale, Utah.
      7455 Union Park Ave, Midvale, UT 84047
      View Details
    • $990,000
      0.51 Acres

      Vacant Commercial Building in Midvale

      Freestanding commercial building with high visibility and redevelopment potential.
      159 W Center St, Midvale, UT 84047
      View Details
    • $1,700,000
      7,000 SF

      Midvale Main Street Gem

      Historic Theater & Offices, 7,000 SF
      7711 Main St, Midvale, UT 84047
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Corner Lot Near Fort Union

      Highly visible corner lot suitable for drive-through restaurant.
      7720 S 700 E, Midvale, UT 84047
      View Details
    • Contact for pricing
      130,964 SF

      Riverwalk Shopping Center Retail Space

      High-traffic retail space available; I-15 access.
      7200 700, Midvale, UT 84047
      View Details
    • Contact for pricing
      4,470 SF

      Retail Space Near I-215

      Retail spaces available with strong tenant mix and high visibility.
      980-1036 E Fort Union Blvd, Midvale, UT 84047
      View Details
    • $312 /Mo
      1,897 SF

      Midvale Retail Space: Main Street Gem

      1,897 sq ft Medical Office Space. Prime Location.
      7487 Main St, Midvale, UT 84047
      View Details
    • Contact for pricing
      18,692 SF

      Midvale Main Street Retail Space

      Historic Midvale retail, 1,220-4,450 SF available.
      0 Midvale Main St, Midvale, UT 84047
      View Details
    • Contact for pricing
      3,159 SF

      Midvale Retail Space For Lease

      Prime Midvale location, 3,159 sq ft.
      7650 Union Park Ave, Midvale, UT 84047
      View Details
    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.
    57 Ctr St
    Midvale, UT 84047-7363
    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.