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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
Zoning description
The purpose of the D-1 Central Business District is to provide for commercial and economic development within Salt Lake City's most urban and intense areas. A broad range of uses, including very high density housing, are intended to foster a twenty four hour activity environment consistent with the area's function as the business, office, retail, entertainme…
Zone name
Central Business District
General category
COMMERCIAL
Zone area
252.09 ac
Source
Realmo
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, UTZoning 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
Zoning description
The purpose of the D-1 Central Business District is to provide for commercial and economic development within Salt Lake City's most urban and intense areas. A broad range of uses, including very high density housing, are intended to foster a twenty four hour activity environment consistent with the area's function as the business, office, retail, entertainment, cultural and tourist center of the region. Development is intended to be very intense with high lot coverage and large buildings that are placed close together while being oriented toward the pedestrian with a strong emphasis on a safe and attractive streetscape and preserving the urban nature of the downtown area. This district is appropriate in areas where supported by applicable master plans. The standards are intended to achieve established objectives for urban design, pedestrian amenities and land use control.
Zone name
Central Business District
General category
COMMERCIAL
Zone area
252.09 ac
Source
Realmo
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.
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