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500 South Development Site 2 Retail Properties Offered at $10,735,000 in Salt Lake City, UT
INVESTMENT HIGHLIGHTS
- Strong Zoning Paired with Near-Term Income
- Central Proximity to Live Event Venues
- Resilient Rental Market and Positive Demographic Tailwinds
EXECUTIVE SUMMARY
Cushman & Wakefield, as exclusive advisor is pleased to present the opportunity to acquire the 500 South Development Site (the “Site”), a premier D-2 zoned, 1.55-acre OZ development site located in the heart of Salt Lake City, Utah.
The Site is encumbered by two single-tenant retail properties currently leased to Safelite and a local restaurant operator, through December 2029 and October 2029, respectively providing near-term income as development plans commence.
This offering represents a rare chance to secure highly coveted, developable land in the heart of the Mountain West’s fastest-growing metro. With minimal new multifamily supply expected over the next three years and renter demand holding strong, Salt Lake City’s multifamily market is approaching a pivotal moment. This creates a rare window for developers to deliver high-quality product and meet growing demand.
The Site is encumbered by two single-tenant retail properties currently leased to Safelite and a local restaurant operator, through December 2029 and October 2029, respectively providing near-term income as development plans commence.
This offering represents a rare chance to secure highly coveted, developable land in the heart of the Mountain West’s fastest-growing metro. With minimal new multifamily supply expected over the next three years and renter demand holding strong, Salt Lake City’s multifamily market is approaching a pivotal moment. This creates a rare window for developers to deliver high-quality product and meet growing demand.
PROPERTY FACTS
| Price | $10,735,000 | Number of Properties | 2 |
| Price / SF | $759.89 / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 14,127 SF |
| Status | Active | Total Land Area | 1.46 AC |
| Price | $10,735,000 |
| Price / SF | $759.89 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 14,127 SF |
| Total Land Area | 1.46 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 280 W 500 S, Salt Lake City, UT 84101 | Retail | 8,527 SF | 1951 | - |
| 250 W 500 S, Salt Lake City, UT 84101 | Retail | 5,600 SF | 1979 | - |
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500 South Development Site
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