55 Redwood RdSalt Lake City, UT 84116

Property Details for 55 Redwood Rd

Year built

1965

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.78 AC

Property size (Sq ft)

26,194 SF

Zone code

CC

Property type

Strip malls

Property subtype

Neighborhood centers

APN

08-34-382-008

APU

834382008

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $10,172,010

  6.5%

  $9,389,547

  7%

  $8,718,865

• Comparable approach

  Method

  Valuation

  Relative Method

  $13,224,879

  Geo Method

  $13,224,879

• Alternative Use

  Use

  Valuation

  Residential

  $7,920,434

  Hospitality

  $7,255,076

  Educational

  $6,036,138

  Medical

  $6,243,730

  Retail

  $9,389,547

Location Insight

City

Salt Lake City

County

Salt Lake

State

Utah

Latitude

40.7707

Longitude

-111.94

CBSA code

41620

CBSA name

SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].