Freestanding Bank
For Sale
Contact for pricing
Pending
12 West State Street, Farmington, UT 84025
Business Residential-zoned property at a signalized intersection with established vehicle access and nearby civic and entertainment destinations.
Property Size6,753 SF
Days on Market51
Property Features for 12 West State Street
General Information
Standard status
Pending
Size
6,753 SF
Property subtype
Retail, Office
Zoning
Business Residential
Additional Details
Road Access
Yes
Listing Agency:
Legend Commercial
Listed By:
Joe Mills · License #UT 5506580-SA00
(801) 930-6755
Source:
Crexi
Added: Aug 27
Changed: Oct 15
Last Checked: Oct 14 at 10:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Legend Commercial
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property is a 6,753-square-foot former bank building at 12 West State Street in Farmington, Utah. Positioned on a corner with signalized intersection control, the site offers direct access and a visible commercial setting. Business Residential zoning applies, and a deed restriction limits bank or credit union use for 2 years.
Traffic volumes include 10,000 ADT along Main Street and 8,000 ADT on State Street. The property is near the Davis County Courthouse, Davis County Special Education facilities, Station Park, and Lagoon Amusement Park, providing a location among civic, retail, and recreational destinations.
Traffic volumes include 10,000 ADT along Main Street and 8,000 ADT on State Street. The property is near the Davis County Courthouse, Davis County Special Education facilities, Station Park, and Lagoon Amusement Park, providing a location among civic, retail, and recreational destinations.
Key Highlights
- 6,753‑square‑foot former bank building
- Corner site at a signalized intersection
- Main Street traffic: 10,000 ADT
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,847
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,856,940
$1.9M
Cap Rate 7%
$1,326,386
$1.3M
Cap Rate 9%
$1,031,633
$1.0M
Market Conditions
NOI Build-Up for 6,753 SF
Gross rent
$131.3K $19.44/SF
− Vacancy
−$7.5K −$1.11/SF
EGI
$123.8K $18.33/SF
− OpEx
−$30.9K −$4.58/SF
NOI
$92.8K $13.75/SF
Area
Davis County, UT
Vacancy
5.70%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,856,940
Cap Rate 7%
$1,326,386
Cap Rate 9%
$1,031,633
Alternative Uses
Best Use
Specialty Retail
$1.33M
$1.16M – $1.55M
NOI $92,847 @ 7.0% cap · market cap 4.89%
Second Best
Office B
$1.17M
$1.03M – $1.37M
NOI $82,105 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,176 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
Explore this area
Business Placement
Demographics for 84025, UT
24,596
Population
7,417
Households
3.3
Avg Household Size
31
Median Age
50%
College-Educated
98%
High-School Grad
14.2 sq mi
ZIP Area
1,732
Density / Sq Mi
$120,123
Median Household Income
$50,856
Median Earnings
$1,644
Median Rent
$618,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Bank - Business Residential-zoned property at a signalized intersection with established vehicle access and nearby civic and entertainment destinations.
Where is this bank located?
The property is located at 12 West State Street Farmington, UT.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 6,753‑square‑foot former bank building; Corner site at a signalized intersection; Main Street traffic: 10,000 ADT
