2561 State StSouth Salt Lake, UT 84115

  • Retail properties
  • 3,040 SF
For Sale
$80,000 View listing

Property Details for 2561 State St

Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
0.11 AC
Property size (Sq ft)
3,040 SF
Zone code
CC
Property type
Retail properties
Property subtype
Retail space
APN
16-19-307-002
APU
1619307002

Description

Own a vibrant, established African import business located at 2561 S State St, South Salt Lake, UT 84115. This 1,800 square foot store boasts a diverse product range, including clothing, accessories, art, and groceries sourced directly from various African countries. The business offers an authentic experience, carefully selecting high-quality items to bring a piece of Africa to customers. Its prime location in a high-traffic area ensures excellent visibility and a steady flow of customers. The store has cultivated a loyal customer base who appreciate the unique offerings and personalized service. This well-established business is a beloved community hub, known for its warm and welcoming atmosphere. The asking price is $80,000. This presents a unique opportunity for an entrepreneur to either continue the existing successful operation or to implement their own vision and build upon the existing foundation. The business is for sale by owner and offers endless possibilities for growth and expansion within the thriving South Salt Lake community.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,180,546
    6.5%
    $1,089,735
    7%
    $1,011,896
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,534,841
    Geo Method
    $1,534,841
  • Alternative Use

    Use
    Valuation
    Residential
    $919,232
    Hospitality
    $842,012
    Educational
    $700,544
    Medical
    $724,636
    Retail
    $1,089,735
2561 State St, South Salt Lake, Utah

Location Insight

City
South Salt Lake
County
Salt Lake
State
Utah
Latitude
40.715
Longitude
-111.888
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
$4,517
$135,400
$268,500
$403,900
-
$135,400
$268,500
$403,900

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