Storefront Property with
For Sale
$1,150,000
1480 S State St, Salt Lake City, UT 84115
Vacant commercial building with State Street frontage and parking on both the rear and street sides.
Property Size3,324 SF
Price / SF$345.97
Days on Market45
Property Features for 1480 S State St
General Information
Standard status
Active
Size
3,324 SF
Building Details
Year Built
1938
Listing Agency:
Newmark Mountain West
Listed By:
Michael A Medina
Source:
Buysalty
Added: Jul 21
Changed: Sep 3
Last Checked: Sep 1 at 10:30PM
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 Newmark Mountain West
Investment Insights
Based on property information with market context.
This vacant storefront property was built in 1938 and fronts State Street. Parking is available along the rear and street sides of the building, providing on-site parking areas connected to the property’s frontage and building layout.
The property is located at 1480 S State St in Salt Lake City, Utah, with access from State Street and parking areas positioned behind and alongside the building.
The property is located at 1480 S State St in Salt Lake City, Utah, with access from State Street and parking areas positioned behind and alongside the building.
Key Highlights
- Storefront property built in 1938
- Frontage along State Street
- Parking available at the rear and along the street side
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$49,666
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$993,320
$993.3K
Cap Rate 7%
$709,514
$709.5K
Cap Rate 9%
$551,844
$551.8K
Market Conditions
NOI Build-Up for 3,324 SF
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.
Gross rent
$73.0K $21.96/SF
− Vacancy
−$2.0K −$0.61/SF
EGI
$71.0K $21.35/SF
− OpEx
−$21.3K −$6.40/SF
NOI
$49.7K $14.94/SF
Area
Salt Lake City, UT
Vacancy
2.80%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$993,320
Cap Rate 7%
$709,514
Cap Rate 9%
$551,844
Alternative Uses
Best Use
Retail
$709.5K
$620.8K – $827.8K
NOI $49,666 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$895.5K
$783.6K – $1.04M
NOI $62,687 @ 7.0% cap · market cap 5.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,330
Businesses Nearby
76k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 44%
McDonald's
Dining
21,897 visits/mo
0.2 miles
SONIC Drive In
Dining
13,374 visits/mo
0.2 miles
Maverik Adventures First Stop
Shops & Services
8,630 visits/mo
0.3 miles
Arby's
Dining
7,365 visits/mo
0.3 miles
7-Eleven
Shops & Services
6,917 visits/mo
0.4 miles
Demographics for 84115, UT
27,588
Population
13,899
Households
2
Avg Household Size
33
Median Age
33%
College-Educated
85%
High-School Grad
6.1 sq mi
ZIP Area
4,523
Density / Sq Mi
$61,505
Median Household Income
$43,785
Median Earnings
$1,263
Median Rent
$396,200
Median Home Value
Market
Vacancy Rate% for Retail in Salt Lake City, UT
Questions? Ask Rey
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- Sam's Club Floral — 1905 S 300 W, Salt Lake City, UT 84115
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Frequently Asked Questions
What type of property is this?
Storefront property - Vacant commercial building with State Street frontage and parking on both the rear and street sides.
Where is this storefront property located?
The property is located at 1480 S State St Salt Lake City, UT.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Storefront property built in 1938; Frontage along State Street; Parking available at the rear and along the street side
