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Property profile & analytics
FOR LEASE
Strip malls
11020 State St Sandy, UT 84070-5150
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US86-0367055
For Lease
1 / 3
$1,355,000
11020 State St, Sandy, UT 84070-5150
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1907
Total area
8,476 SF
Lot
3.07 ac (133,729 SF)
Zoning code
CBD
APN
27-24-227-012
UPID
US86-0367055
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Crescent Hall Event Venue Wedding Service
-
Shake Shack The School Yard Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.36M
Owner & transaction history
School Yard LLC · 1 yrs held
School Yard LLC
since 2024
7 recorded transactions
Zoning & alternative use
CBD · Sandy, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.0M
+441.7%
Medical building
$1.5M
+287.9%
Commercial (general)
$1.2M
+222.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Sandy submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sandy submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$1,495,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,040,000
Change: +442% · Conversion: Difficult
MEDICAL BUILDING
$1,460,000
Change: +288% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,210,000
Change: +222% · Conversion: Easy
RESTAURANT
$990,000
Change: +163% · Conversion: Difficult
Blend value · Realmo final
$1.36M
Range $1.22M – $1.49M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$160 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$67,104
Tax year 2023
Assessed value
$8,924,300
Assessed 2024
Previous assessed
$8,924,300
+0.0% YoY
Effective rate
0.75%
On assessed value
Assessed land
$3,309,800
Assessed improvement
$5,614,500
Land market value
$3,309,800
Improvement market value
$5,614,500
Total market value
$8,924,300
Applied tax rate
36.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1907
Heating
NONE
Cooling
YES
Buildings
3
Stories
1
Units
5
Total area
8,476 SF
Lot
3.07 ac (133,729 SF)
Zoning code
CBD
APN
27-24-227-012
UPID
US86-0367055
Jurisdiction
SALT LAKE
Zoning & alternative use
CBD · Sandy, UT
Zoning CBD · permitted uses
CBD · Sandy, UT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sandy. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
MEDICAL BUILDING
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.2M
RESTAURANT
Est. value
$990,000
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1907
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Units
5
Lot
3.07 ac
Current owner
From public records · entity-resolved
School Yard LLC
Entity
Mailing address
9537 S 700TH CTR E STE #440, SANDY, UT 84070-3494
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 29, 2024
—
School Yard LLC
Wadsworth Velocity Ventures Kingman
Special Warranty Deed
$9,400,000 · America First FCU
Dec 7, 2023
—
Wadsworth Velocity Ventures Kingman
—
Deed
related
$9,550,000 · Zb NA
Dec 21, 2022
—
Micam LLC
Wadsworth Velocity Ventures Kingman
Quit Claim Deed
related
—
Mar 5, 2019
—
Wadsworth Velocity Ventures Ki
—
Loan Modification
related
$9,622,000 · Keybank USA
Nov 21, 2018
—
Wadsworth Velocity Ventures Ki
—
Deed
related
$9,622,000 · Keybank USA
Mar 16, 2017
—
Wadsworth Velocity Ventures-ki
—
Deed
related
$1,602,000 · Zions First Nat'l Bk
May 18, 2016
—
Wadsworth Velocity Ventures-ki
Board Of Education/canyons Sch Di
Warranty Deed
$30,000,000 · Zions First Nat'l Bk
Nov 5, 2010
—
Board Of Education & Jordan Sch Dis
Board Of Education/canyons Sch Di
Quit Claim Deed
related
—
Oct 5, 1995
—
Sandy City
Board Of Ed Of Jordan School
Grant Deed
related
—
—
—
Wadsworth Velocity Ventures Ki
—
Deed Of Trust
related
$9,622,000 · Keybank USA
—
—
Wadsworth Velocity Ventures-ki
—
Deed Of Trust
related
$1,602,000 · Zions First Nat'l Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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