3540 State StSouth Salt Lake, UT 84115

Property Details for 3540 State St

Year built

1974

Construction

WOOD FRAME

Lot size

0.92 AC

Property size (Sq ft)

17,812 SF

Zone code

CC

Property type

Drive through restaurants

APN

16-31-151-070

APU

1631151070

Description

This exceptional 17,612 square foot, two-story retail and restaurant space at 3540 South State Street in South Salt Lake, Utah, presents a unique investment opportunity. Currently undergoing a complete renovation, the property boasts a new roof, exterior, windows, entry doors, a new metal pan, and a poured concrete floor. The building, classified as Class C, was constructed in 1974 and features an elevator servicing both floors, a significant advantage for accessibility and multi-level operations. The 1.26-acre lot provides ample space, and the 13,000 square feet of vacant space is ready for immediate occupancy. The owner will deliver the space in a warm shell condition, allowing for tenant improvements to be negotiated to suit specific business needs. Potential uses are diverse, including a restaurant on the upper floor and an event center or club with bar and restrooms on the lower level. Located in Salt Lake County, with a convenient zip code of 84115, this property offers high visibility and accessibility in a thriving area. This single-tenant space is perfect for a business seeking a prominent location with significant square footage and the benefit of a recently completed renovation. Don't miss this chance to secure a prime retail or restaurant location in a rapidly developing area.

• CAP approach

  CAP return

  Valuation

  6%

  $6,917,092

  6.5%

  $6,385,008

  7%

  $5,928,936

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,992,958

  Geo Method

  $8,992,958

• Alternative Use

  Use

  Valuation

  Residential

  $5,385,993

  Hospitality

  $4,933,540

  Educational

  $4,104,648

  Medical

  $4,245,813

  Retail

  $6,385,008

Location Insight

City

South Salt Lake

County

Salt Lake

State

Utah

Latitude

40.6944

Longitude

-111.889

CBSA code

41620

CBSA name

SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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