Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail and Land Lease Opportunity Title is generated by Realmo AI

    648 E State St, American Fork, UT 84003

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail and land available for lease with high traffic counts.

    Type:Retail, Restaurant
    Property size:
    28,011 SF
    Lot size:
    0.40 Acres
    Added:
    Aug 1, 2018
    Days on Market:
    2865
    Last Refresh:
    May 19 at 10:22 pm

    Property Features for 648 E State St

    General Information

    Standard status
    Active
    Size
    28,011 SF
    Lot size
    0.40 Acres
    Property subtype
    Retail, Restaurant

    Spaces For Lease

    at 648 E State St Contact us

    We can help!

    Listing Contact
    Garrett Blomquist
    Garrett Blomquist

    Listing agent Garrett Blomquist License #UT 6647527-SA00

    Listing office Newmark Mountain West

    Listing date Aug 1, 2018

    Source Crexi

    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

    HighLights

    • High Traffic Counts: Benefit from exceptional visibility with 28,601 ADT on State Street and 21,394 ADT on 500 East.
    • Large Endcap Space: 28,011 SF endcap Midbox available for lease.
    • Demisable Space: Endcap Midbox is demiseable to 14,000 SF.
    • Inline Midbox Option: 25,436 SF inline Midbox also available for lease.
    • Ground Lease Opportunity: 0.40 Acres available for ground lease.
    • Ground Lease Rate: $75,000 /YR for ground lease.

    Overview

    Available for lease are a 28,011-square-foot endcap midbox, which is demiseable to 14,000 square feet, and a 25,436-square-foot inline midbox. Additionally, 0.40 acres are available for ground lease at $75,000 per year. The location benefits from significant traffic, with 28,601 average daily traffic (ADT) on State Street and 21,394 ADT on 500 East.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    American Fork
    County
    Utah
    State
    Utah
    Longitude
    -111.814
    Latitude
    40.4102

    Nearby Similar for Lease

    • $5,412/Mo
      2,706-2,706 SF

      flex-space

      1349 S 500 E, Unit 229, 230, American Fork, UT 84003
      View Details
    • $15 SF/Yr
      3,515 SF

      Move-In Ready Office Suite

      Configured for therapy and mental health practices.
      751 East 700 South, American Fork, UT 84003
      View Details
    • $15 SF/Yr

      Therapy Office Suite For Rent

      Move-in ready office suite configured for therapy and mental health practices.
      751 E Quality Dr. Suite 102, American Fork, UT 84003
      View Details
    • $21 SF/Yr
      3,862 SF

      Remodeled Office Space For Lease

      Newly remodeled office space with freeway access and many amenities.
      915 South 500 East, American Fork, UT, 84003
      View Details
    • $21 SF/Yr
      11,172 SF

      Modern Office Space Available

      Office spaces with new finishes, high parking ratio, and courtyard.
      727 E 930 S, American Fork, UT
      View Details
    • $21 SF/Yr
      4,955 SF

      American Fork Office Space Available

      American Fork office space for lease with monument signage.
      751 East 700 South, American Fork, UT, 84003
      View Details
    • $27 SF/Yr
      17,575 SF

      Modern Office Space with Gym

      Turn-key office space with mountain views and building gym.
      2100 W Pleasant Grove Blvd, American Fork, UT
      View Details
    • Contact for pricing

      American Fork Commercial Space Available

      Showroom, studio, warehouse, and office space in American Fork.
      17 N MERCHANT St, American Fork, UT 84003
      View Details
    • $1,000/Mo

      Office Space For Rent

      Office space available for rent in American Fork, Utah.
      479 West 30 North, American Fork, UT 84003
      View Details
    • $19 SF/Yr
      25,623 SF

      American Fork Office Space Available

      American Fork office space for lease with private restrooms.
      1276 South 820 East, American Fork, UT, 84003
      View Details
    • Contact for pricing

      Downtown American Fork Office Sublease

      Two-room office suite with kitchenette and private entrance available for sublease.
      477 West 30 North, American Fork, UT 84003
      View Details
    • $24 SF/Yr
      24,357 SF

      American Fork Office Space Available

      24,357 SF office space for lease in American Fork.
      1180 S 630 E, American Fork, UT
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail and land available for lease with high traffic counts.
    Where is this retail space located?
    The property is located at 648 E State St American Fork, UT.
    What are key features of this property?
    This property features: High Traffic Counts: Benefit from exceptional visibility with **28,601 ADT on State Street and 21,394 ADT on 500 East.**; Large Endcap Space: **28,011 SF endcap Midbox available for lease.**; Demisable Space: Endcap Midbox is demiseable to 14,000 SF.
    (801) 456-8800 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Garrett Blomquist
    Garrett Blomquist
    Real Estate License ID: UT 6647527-SA00
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    648 E State St, American Fork, UT 84003
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!