49-year-old Luis Melendez was found dead near a bicycle in the area of Harrison Ave. and Main Street two weeks ago.
2KUTV reports the suspect is 24-year-old Siosiua Tonga Ositamani, according to a jail affidavit filed on Tuesday.
An anonymous tip led investigators to Ositamani, after which they compared photos of him to video from local businesses.
He was questioned by police on Monday, and admitted to shooting Melendez, the affidavit states. Ositamani told investigators he and a friend got in an argument with Melendez, and that he fired a gun once at the 49-year-old man before leaving the area.
Video from a businesses in the area shows two suspects, one of whom is now believed to be Ositamani.
A witness to the shooting reportedly gave the suspects a ride out of the neighborhood afterward because they "didn't want 'those kind of people'" there, the affidavit states.
The suspects were then captured on video at a convenience store, where they picked up "a couple of fountain drinks."
A second suspect in the case has yet to be publicly identified.
Ositamani was booked into Salt Lake County jail on a charge of first-degree felony murder. He is being held without bail as of Tuesday.