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    Shovel Ready Entitled Commercial Land Title is generated by Realmo AI

    8475 S STATE St, Sandy, UT 84070

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    Claim this Listing
    For Sale
    $2,749,000

    COMMERCIAL - Sandy, UT

    Property size:
    15,149 SF
    Lot size:
    1.17 Acres
    Price / SF:
    $181/SF
    Added:
    Nov 24, 2025
    Days on Market:
    194
    Last Refresh:
    Jun 6 at 1:06 pm

    Property Features for 8475 S STATE St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Standard status
    Active
    APN
    22-31-351-007
    Size
    15,149 SF
    Lot size
    1.17 Acres

    Taxes and HOA fees

    Tax Annual Amount
    9223

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer

    We can help!

    Listing Contact
    Elliot Abel
    Elliot Abel

    Listing agent Elliot Abel License #94166337-SA00

    Listing office Investment Realty Advisors LLC 411 W 7200 S Ste 201, Salt Lake City, UT

    Listing date Nov 24, 2025

    MLS# 2124371 Listing URL

    Copyright © 2026 UtahRealEstate.com. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Shovel‑ready land with fully entitled plans for a 15,149 SF development (10,249 SF flex warehouse/office and 4,900 SF retail).
    • Located on busy Sandy State Street with high traffic volume (24,610 AADT) and proximity to 9000 South (40,000 AADT).
    • Flexible Commercial Neighborhood zoning allows for a broad range of commercial uses.
    • Strong surrounding demographics and high‑exposure location in an active commercial area.
    • Effortless access to major north‑south and east‑west routes.
    • Utilities available: Natural Gas and Public Sewer.

    Overview

    This offering includes a 1.17-acre parcel of commercially zoned land with fully entitled plans for a 15,149 square foot development. The plans include a 10,249 square foot flex warehouse/office building and a 4,900 square foot retail development. With entitlements already complete, construction can begin immediately. Located along State Street in Sandy, UT 84070, the site benefits from high traffic, with an average daily traffic count of 24,610 on State Street and approximately 40,000 on 9000 South. The location offers strong visibility and easy access to major routes. The surrounding area features shopping centers, service businesses, and employment hubs, attracting consumer activity from the surrounding neighborhoods and the greater Salt Lake Valley. This setting supports a broad range of commercial uses, making it an advantageous environment for retail and office users. The flexible commercial zoning, strong surrounding demographics, and high-exposure location make this site a rare shovel-ready opportunity in one of Sandy's most active commercial areas, well-suited for developers, investors, or owner-users looking for immediate execution capacity.

    Local Financial Insights For Flex RnD

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $387.2k $25.56
    − Vacancy −$21.3k −$1.41
    EGI $365.9k $24.15
    − OpEx −$128.1k −$8.45
    NOI $237.8k $15.70
    15,149 SF · lease $25.56/SF/yr · vacancy 5.50% · expense 35.00%

    Alternative Uses

    Best Use
    Flex RnD
    $3.40M
    $2.97M – $3.96M (±1% cap)
    NOI $237,843 @ 7.0% cap · market cap 8.65%
    Second Best
    Retail
    $3.24M
    $2.84M – $3.78M (±1% cap)
    NOI $226,886 @ 7.0% cap · market cap 8.25%
    Theoretical Best
    Multifamily LT 5
    $201.71M
    $176.50M – $235.33M (±1% cap)
    NOI $14,120,016 @ 7.0% cap · market cap 513.64%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Puro Peru Peruvian ... Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sandy
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.889962
    Latitude
    40.597161

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    FAQs

    What type of property is this?
    Commercial land - 1.17 acres of commercial land with fully entitled plans.
    Where is this commercial land located?
    The property is located at 8475 S STATE St Sandy, UT.
    What is the asking price?
    The asking price for this property is $2,749,000.
    What are key features of this property?
    This property features: Shovel‑ready land with fully entitled plans for a **15,149 SF development** (10,249 SF flex warehouse/office and 4,900 SF retail).; Located on busy Sandy State Street with **high traffic volume (24,610 AADT)** and proximity to 9000 South (40,000 AADT).; Flexible Commercial Neighborhood zoning allows for a broad range of commercial uses.
    (801) 231-8722
    We can help!
    Listing Contact
    Elliot Abel
    Elliot Abel
    Real Estate License ID: 94166337-SA00
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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