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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8062 State St Midvale, UT 84047

    • Retail properties
    • 11,388 SF
    • 1.63 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 8062 State St

    Year built
    1999
    Lot size
    1.63 lot acres
    Property size
    11,388 SF
    Property type
    Retail properties
    Property subtype
    Auto shops

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Midvale
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.892
    Latitude
    40.6049

    Comparable in this City

    • Value Estimation
      $3,255,000
      92,927 SF

      7125 600th W

      AUTO REPAIR, GARAGE • 92,927 SF
      7125 600th W, Midvale, UT 84047-1007
      View Details
    • Value Estimation
      $1,045,000
      15,159 SF

      7480 State St

      AUTO REPAIR, GARAGE • 15,159 SF
      7480 State St, Midvale, UT 84047-2014
      View Details
    • Value Estimation by Request
      2,808 SF

      7951 State St

      AUTO REPAIR, GARAGE • 2,808 SF
      7951 State St, Midvale, UT 84047-3240
      View Details
    • Value Estimation by Request
      2,400 SF

      918 Es Un Ave

      AUTO REPAIR, GARAGE • 2,400 SF
      918 Es Un Ave, Midvale, UT 84047-2302
      View Details
    • Value Estimation by Request
      2,754 SF

      918 Es Un Ave

      AUTO REPAIR, GARAGE • 2,754 SF
      918 Es Un Ave, Midvale, UT 84047-2302
      View Details
    • Value Estimation by Request
      3,000 SF

      6969 700th W

      AUTO REPAIR, GARAGE • 3,000 SF
      6969 700th W, Midvale, UT 84047-1019
      View Details

    Similar Nearby for Sale

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      Midvale Main Street Gem

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      Turn-Key Business Opportunity in Midvale

      Established business for sale with building, land, license, and assets.
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      Multi-tenant investment property with national tenants in Midvale, Utah.
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      Turn-Key Restaurant Business For Sale

      Established restaurant with building, land, license, and assets included.
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    • $990,000
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      Vacant Commercial Building in Midvale

      Freestanding commercial building with high visibility and redevelopment potential.
      159 W Center St, Midvale, UT 84047
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    Similar Nearby for Lease

    • Contact for pricing
      18,692 SF

      Midvale Main Street Retail Space

      Historic Midvale retail, 1,220-4,450 SF available.
      0 Midvale Main St, Midvale, UT 84047
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    • Contact for pricing
      3,159 SF

      Midvale Retail Space For Lease

      Prime Midvale location, 3,159 sq ft.
      7650 Union Park Ave, Midvale, UT 84047
      View Details
    • $14,000 /Mo
      3,930 SF

      Laundromat and Car Wash Space

      3,930 SF laundromat and five-bay car wash for rent.
      7391 S State St, Midvale, UT 84047
      View Details
    • Contact for pricing
      1,800 SF

      Creative Office/Retail Space Available

      Renovated creative office/retail space in central Salt Lake Metropolitan area.
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    • Contact for pricing
      4,250 SF

      Retail Space in Historic Area

      Retail spaces available in a historic Midvale location.
      7718 S Main St, Midvale, UT 84047
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    • $17 SF/Yr
      8,260 SF

      Retail Space with Ample Parking

      Retail space with convenient access and generous parking available for lease.
      74 W 7200 S, Midvale, UT 84047
      View Details
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    8062 State St
    Midvale, UT 84047
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    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
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