2561 State StSouth Salt Lake, UT 84115

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 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.

• CAP approach

  CAP return

  Valuation

  6%

  $892,233

  6.5%

  $823,600

  7%

  $764,771

• Comparable approach

  Method

  Valuation

  Relative Method

  $633,427

  Geo Method

  $633,427

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,576,470

  Mixed-Use / Specialty

  $832,635

  Hospitality / Lodging

  $626,465

  Office

  $840,158

  Institutional / Educational

  $869,884

  Residential Income

  $1,017,760

  Multifamily

  $1,154,280

  Automotive / Energy

  $745,615

  Parking / Income-Based Land

  $245,475

  Restaurant / Food Service

  $458,610

  Healthcare / Senior Housing

  $841,575

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

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