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Property profile & analytics
OFF-MARKET
Estimated value
$7,025,000
Investment properties
1385 State St, Salt Lake City, UT 84115-5582
Entity Owned
28-yr Hold
Free & Clear
Property ID
US86-0511075
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1992
Construction
CONCRETE
Total area
65,851 SF
Lot
3.14 ac (136,778 SF)
Zoning code
2000
APN
16-18-103-013
UPID
US86-0511075
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
-
Utah State Government Foster State Government Office
-
Utah Division of Child and Family Services Social Service Agency Charitable Organization
-
Utah HMIS Association Or Organization
-
State Of Utah Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.74M
Blend (final)
Blend
$7.03M
Owner & transaction history
STATE BUILDING OWNERSHIP
STATE BUILDING OWNERSHIP
Zoning & alternative use
2000 · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.1M
+14.8%
Medical building
$8.7M
+10.1%
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 Salt Lake City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salt Lake City 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$7,890,000
Current use
RESTAURANT
$9,055,000
Change: +15% · Conversion: Difficult
MEDICAL BUILDING
$8,690,000
Change: +10% · Conversion: Easy
RETAIL STORES
$7,720,000
Change: -2% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$6,355,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$7.03M
Range $6.32M – $7.73M · ±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
$107 / 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 2022Property tax & assessments
Tax year 2022
Assessed value
$9,009,000
Assessed 2023
Previous assessed
$9,431,200
-4.5% YoY
Assessed land
$3,520,800
Assessed improvement
$5,488,200
Land market value
$3,520,800
Improvement market value
$5,488,200
Total market value
$9,009,000
Applied tax rate
1.0000
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1992
Construction
CONCRETE
Heating
YES
Cooling
YES
Buildings
3
Stories
1
Units
1
Total area
65,851 SF
Lot
3.14 ac (136,778 SF)
Zoning code
2000
APN
16-18-103-013
UPID
US86-0511075
Jurisdiction
SALT LAKE
Zoning & alternative use
2000 · Salt Lake City, UT
Zoning 2000 · permitted uses
2000 · Salt Lake City, UT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Salt Lake City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$7.9M
RESTAURANT
Est. value
$9.1M
MEDICAL BUILDING
Est. value
$8.7M
RETAIL STORES
Est. value
$7.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.4M
COMMERCIAL (GENERAL) Current
RESTAURANT
MEDICAL BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1992
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Buildings
3
Units
1
Lot
3.14 ac
Current owner
From public records · entity-resolved
STATE BUILDING OWNERSHIP
Individual
Free & Clear · 0 yrs held
Mailing address
450 N STATE ST #4110, SALT LAKE CITY, UT 84114-9000
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
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