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Property profile & analytics
FOR LEASE
Drive through restaurants
150 South State St, Salt Lake City, UT 84111
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US86-0212159
For Lease
1 / 12
$17 SF/Yr
150 South State St, Salt Lake City, UT 84111
View Listing →
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1909
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
38,236 SF
Lot
0.28 ac (12,197 SF)
Zoning code
D-1
APN
16-06-151-010
UPID
US86-0212159
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
-
Saasuma (Bike/Boat/Book/etc) Store Corporate Office
-
Homeworkable (Bike/Boat/Book/etc) Store Corporate Office
-
Webware.io Advertising Agency Marketing & Advertising
-
SearchMyDocs Inc (Bike/Boat/Book/etc) Store Corporate Office
-
datalab.cc Vocational School Training Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.08M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.11M
Blend (final)
Blend
$1.59M
Owner & transaction history
150 S State LLC · 16 yrs held
150 S State LLC
since 2009
4 recorded transactions
Zoning & alternative use
D-1 · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$1,075,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,490,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$1.59M
Range $1.43M – $1.75M · ±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
$42 / 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
$55,755
Tax year 2023
Assessed value
$5,639,800
Assessed 2023
Previous assessed
$5,639,800
+0.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$1,195,600
Assessed improvement
$4,444,200
Land market value
$1,195,600
Improvement market value
$4,444,200
Total market value
$5,639,800
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
For Lease
Year built
1909
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Buildings
3
Stories
2
Units
1
Total area
38,236 SF
Lot
0.28 ac (12,197 SF)
Zoning code
D-1
APN
16-06-151-010
UPID
US86-0212159
Jurisdiction
SALT LAKE
Zoning & alternative use
D-1 · Salt Lake City, UT
Zoning D-1 · permitted uses
D-1 · 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)
Est. value
$2.5M
COMMERCIAL (GENERAL)
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
1909
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
HOT WATER
Stories
2
Buildings
3
Units
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
150 S State LLC
Entity
Mailing address
5288 S COMMERCE DR, SALT LAKE CITY, UT 84107-4783
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 24, 2021
—
150 S State LLC
—
Deed
related
$2,750,000 · Deseret First FCU
Oct 13, 2009
—
150 S State LLC
Zimmerman E G S Trust
Warranty Deed
$1,543,000 · Zimmerman E G S Tr (pt)
Mar 10, 2009
—
Eleanor G S Fam Zimmerman
Zimmerman E G S Trust
Quit Claim Deed
related
—
Oct 31, 2008
—
Eleanor G S Fam Zimmerman
Zimmerman Eleanor G S Trust
Quit Claim Deed
related
—
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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