Mixed-Use Investment
For Sale
Contact for pricing
7676 State St, Midvale, UT 84047
Four commercial buildings on 1.29 acres with income potential.
Property Size21,075 SF
Lot Size1.29 Acres
Price / SF$301.30
Days on Market191
Property Features for 7676 State St
General Information
Standard status
Active
Size
21,075 SF
Class
B
Lot size
1.29 Acres
Property subtype
Retail, Industrial, Mixed Use
Zoning
Transit-Oriented Development (TOD)
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$399,934
Building Details
Buildings
4
Tenancy
Multi
Listing Agency:
InterNet Properties Inc
(801) 879-7870
Listed By:
Chris Metos · License #8228033-SA00
Source:
Crexi
Added: Feb 2
Changed: Aug 11
Last Checked: Aug 10 at 10:48AM
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 InterNet Properties Inc
Investment Insights
Based on property information with market context.
This investment opportunity comprises four commercial buildings located on two parcels, totaling 1.29 acres. Two of the buildings are flex-style structures, encompassing 40 individual units. These units offer the flexibility to be combined, accommodating current or future tenant expansion needs. The remaining two buildings include a single-family residence and a fully renovated retail space. The retail space is now equipped for restaurant use, featuring a new hood, grease trap, restrooms, flooring, and lighting. The restaurant building has a newly executed 5-year lease. The asset provides immediate in-place cash flow with a current cap rate of approximately 6.3%, with upside potential through rent escalations or repositioning strategies. The property is located in Midvale, UT.
Key Highlights
- Immediate in‑place cash flow with a current cap rate of approximately 6.3%.
- Four commercial buildings on 1.29 acres, offering diverse income streams.
- Two flex‑style buildings with 40 individual units, providing tenant expansion flexibility.
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
$338,185
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
5.33%
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%
$6,763,700
$6.8M
Cap Rate 7%
$4,831,214
$4.8M
Cap Rate 9%
$3,757,611
$3.8M
Market Conditions
NOI Build-Up for 21,075 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
$462.8K $21.96/SF
− Vacancy
−$11.9K −$0.56/SF
EGI
$450.9K $21.40/SF
− OpEx
−$112.7K −$5.35/SF
NOI
$338.2K $16.05/SF
Area
Salt Lake County, UT
Vacancy
2.57%
Lease Rate
$21.96 /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%
$6,763,700
Cap Rate 7%
$4,831,214
Cap Rate 9%
$3,757,611
Alternative Uses
Best Use
Specialty Retail
$4.83M
$4.23M – $5.64M
NOI $338,185 @ 7.0% cap · market cap 5.33%
Second Best
Flex RnD
$4.73M
$4.14M – $5.51M
NOI $330,882 @ 7.0% cap · market cap 5.21%
Theoretical Best
Multifamily LT 5
$280.62M
$245.54M – $327.39M
NOI $19,643,497 @ 7.0% cap · market cap 309.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,452
Businesses Nearby
Explore this area
Business Placement
Demographics for 84047, UT
37,146
Population
17,221
Households
2.2
Avg Household Size
33
Median Age
34%
College-Educated
92%
High-School Grad
6.4 sq mi
ZIP Area
5,804
Density / Sq Mi
$73,120
Median Household Income
$43,845
Median Earnings
$1,482
Median Rent
$404,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four commercial buildings on 1.29 acres with income potential.
Where is this mixed-use property located?
The property is located at 7676 State St Midvale, UT.
What is the asking price?
The asking price for this property is $6,350,000.
What are key features of this property?
This property features: Immediate in‑place cash flow with a current cap rate of approximately 6.3%.; Four commercial buildings on 1.29 acres, offering diverse income streams.; Two flex‑style buildings with 40 individual units, providing tenant expansion flexibility.
