57 Ctr St Midvale, UT 84047-7363
Property profile & analytics
57 Ctr St, Midvale, UT 84047-7363
- Drive through restaurants
- 900 SF
- 0.33 lot acres
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.
Location Intelligence
Current Use by Public Records
- Drive through restaurants
Property Details for 57 Ctr St
- Year built
- 1956
- Lot size
- 0.33 lot acres
- 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
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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
- 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
