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2324 S Redwood Rd 3,421 SF Retail Building Salt Lake City, UT 84119 $1,000,000 ($292.31/SF) 6.13% Cap Rate
Investment Highlights
- Prime West Valley Location Surrounded by Retailers and Industrial Users.
- 30+ Parking Stalls Available. Owners Have a Clean Phase I.
- Excellent Exposure from Redwood Road & Easy Freeway Access.
Executive Summary
Investment Details:
Purchase Price: $1,000,000.00
Cap Rate: 6%
Tenant: Express Dry Cleaners
Annual Rents: $72,000.00
Lease Term: Three (3) Years
Rent Increases: 4% Annually
Options: One (1) Five (5) Year Option To
Renew At FMV
Tenant Has Operated At This Location For 10 Years
Express Cleaners, LLC Has Been In Business For 66
Years With 3 Locations On The Wasatch Front
Property Information:
3,421 SF Retail With Drive-Thru
0.46 Acres
Great Visibility On Redwood Road
Zoned: C2
Ample Parking: 30+ Parking Stalls
Clean Phase 1
Multi-Tenant Possibility
Drive-Thru Capabilities
750 SF Lease Back Option
Tenant Payment: $2,000.00 Per Month
Purchase Price: $1,000,000.00
Cap Rate: 6%
Tenant: Express Dry Cleaners
Annual Rents: $72,000.00
Lease Term: Three (3) Years
Rent Increases: 4% Annually
Options: One (1) Five (5) Year Option To
Renew At FMV
Tenant Has Operated At This Location For 10 Years
Express Cleaners, LLC Has Been In Business For 66
Years With 3 Locations On The Wasatch Front
Property Information:
3,421 SF Retail With Drive-Thru
0.46 Acres
Great Visibility On Redwood Road
Zoned: C2
Ample Parking: 30+ Parking Stalls
Clean Phase 1
Multi-Tenant Possibility
Drive-Thru Capabilities
750 SF Lease Back Option
Tenant Payment: $2,000.00 Per Month
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$72,000
|
$21.05
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $72,000 |
| Annual Per SF | $21.05 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
3,421 SF
Building Class
C
Year Built/Renovated
1969/2015
Price
$1,000,000
Price Per SF
$292.31
Cap Rate
6.13%
NOI
$61,300
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
0.46 AC
Opportunity Zone
Yes
Zoning
C-2 - C-2 Zoning
Parking
30 Spaces (8.77 Spaces per 1,000 SF Leased)
Frontage
118’ on REDWOOD RD
Amenities
- Bus Line
- Pylon Sign
- Signage
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Express Cleaners Two
- Services
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Express Cleaners Two | Services | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 15-22-177-007-0000 | Improvements Assessment | $264,900 |
| Land Assessment | $351,500 | Total Assessment | $616,400 |
Property Taxes
Parcel Number
15-22-177-007-0000
Land Assessment
$351,500
Improvements Assessment
$264,900
Total Assessment
$616,400
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2324 S Redwood Rd
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