Commercial Land on State
For Sale
$799,000
7 E STATE ST, Lehi, UT 84043
Commercial land parcel situated in central Lehi along State Street.
Property Size1,898 SF
Days on Market91
Property Features for 7 E STATE ST
General Information
Standard status
Active
Size
1,898 SF
Property subtype
Office
Building Details
Building Size
1,898 SF
Year Built
1898
Listing Agency:
Berkshire Hathaway HomeServices Elite Real Estate (South County)
(801) 995-4700
Listed By:
Spencer Clawson · License #6608967-PB00
(801) 636-8426
Source:
Liftrealty
Added: Jun 3
Changed: Aug 31
Last Checked: Aug 31 at 1:53PM
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 Berkshire Hathaway HomeServices Elite Real Estate (South County)
Investment Insights
Based on property information with market context.
This commercial land parcel is located at 7 E State St in Lehi, Utah. The property is identified as commercial land within the source classification and occupies a central Lehi location.
Key Highlights
- 7 E State St address in Lehi, UT 84043
- Commercial land classification
- Central Lehi location
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
$26,648
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
3.34%
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%
$532,960
$533.0K
Cap Rate 7%
$380,686
$380.7K
Cap Rate 9%
$296,089
$296.1K
Market Conditions
NOI Build-Up for 1,898 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
$45.6K $24.00/SF
− Vacancy
−$10.0K −$5.28/SF
EGI
$35.5K $18.72/SF
− OpEx
−$8.9K −$4.68/SF
NOI
$26.6K $14.04/SF
Area
Utah County, UT
Vacancy
22.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$532,960
Cap Rate 7%
$380,686
Cap Rate 9%
$296,089
Alternative Uses
Best Use
Office B
$380.7K
$333.1K – $444.1K
NOI $26,648 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$523.2K
$457.8K – $610.4K
NOI $36,624 @ 7.0% cap · market cap 4.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Explore this area
Business Placement
Demographics for 84043, UT
76,954
Population
23,408
Households
3.3
Avg Household Size
26
Median Age
50%
College-Educated
97%
High-School Grad
31.1 sq mi
ZIP Area
2,474
Density / Sq Mi
$125,598
Median Household Income
$49,643
Median Earnings
$1,802
Median Rent
$567,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercial land parcel situated in central Lehi along State Street.
Where is this commercial land located?
The property is located at 7 E STATE ST Lehi, UT.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 7 E State St address in Lehi, UT 84043; Commercial land classification; Central Lehi location
