28 2100South Salt Lake, UT 84115

Property Details for 28 2100

Year built

2003

Lot size

1.56 AC

Property size (Sq ft)

1,610 SF

Zone code

CC

Property type

Retail properties

Property subtype

Drive through restaurants

APN

16-19-103-026

APU

1619103026

Description

This exceptional investment opportunity presents a brand-new, 3,860-square-foot In-N-Out Burger restaurant in South Salt Lake City, Utah. Located on a 1.58-acre lot at a high-traffic intersection (over 66,100 vehicles per day), this property benefits from excellent visibility and accessibility. The absolute NNN lease boasts a 20-year primary term with four 5-year options, ensuring long-term, stable income. Rent increases of 10% every five years provide inflation protection, and the property includes additional revenue streams from billboard leases. Built in 2024, the property enjoys 100% occupancy and a strong NOI of $357,526, resulting in a 3.50% cap rate. The asking price is $10,215,000 ($2,646.37 per square foot). This strategically located property is near major interstates (I-15 and I-80), offering convenient access and high traffic volume. Surrounding the property are other well-known retailers, including The Home Depot, Costco, and WinCo Foods, further enhancing its desirability and potential for continued success. The property's location within a densely populated area (over 368,800 residents within 5 miles, MSA population exceeding 1.26 million) with high average household incomes (over $113,779 within a 5-mile radius) contributes to its strong investment potential. The lease commenced November 1, 2024, and expires October 31, 2044. This is a rare opportunity to acquire a highly sought-after In-N-Out Burger location with minimal landlord responsibilities and significant long-term growth potential. The property's APN is 16-19-103-021, 16-19-103-018.

• CAP approach

  CAP return

  Valuation

  6%

  $1,258,392

  6.5%

  $1,161,593

  7%

  $1,078,622

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,553,340

  Geo Method

  $1,553,340

• Alternative Use

  Use

  Valuation

  Residential

  $979,847

  Hospitality

  $897,535

  Educational

  $746,738

  Medical

  $772,420

  Retail

  $1,161,593

Location Insight

City

South Salt Lake

County

Salt Lake

State

Utah

CBSA code

41620

CBSA name

SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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