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

    151 State St Salt Lake City, UT 84111-1536

    • Parking lots & garages
    • 201,960 SF
    • 0.01 lot acres
    OFF-MARKET
    Last Sale
    Feb 09, 2021
    Value Estimations
    $1,205,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0841931
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Hope on Ttapp / Std Testing Service
    • QW DESIGN LLC / Architectural Designer
    • Liberty SKY / Apartment Rental Agency / Apartment Complex
    • bronzed by brakell / Health And Beauty Shop

    Property Details for 151 State St

    Year built
    2014
    Lot size
    0.01 lot acres
    Property size
    201,960 SF
    Zone code
    D-1
    Property type
    Parking lots & garages
    APN
    16-06-112-001
    APU
    1606112001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,210,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,200,000
      Market price range: $848k - $3.58M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.887
    Latitude
    40.7661
    CBSA code
    41620
    CBSA name
    SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $0.00
    $769,200
    $10,688,300
    $11,457,500
    -
    $769,200
    $10,688,300
    $11,457,500

    Comparable in this City

    • Value Estimation
      $1,250,000
      144,000 SF

      132 State St

      PARKING GARAGE, PARKING STRUCTURE • 144,000 SF
      132 State St, Salt Lake City, UT 84111-1506
      View Details
    • Value Estimation by Request
      14,040 SF

      164 Es Temple

      PARKING GARAGE, PARKING STRUCTURE • 14,040 SF
      164 Es Temple, Salt Lake City, UT 84111-1102
      View Details
    • Value Estimation by Request
      26,245 SF

      255 State St, Unit P1

      PARKING GARAGE, PARKING STRUCTURE • 26,245 SF
      255 State St, Salt Lake City, UT 84111-5239
      View Details
    • Value Estimation
      $975,000
      74,947 SF

      515 400th E

      PARKING GARAGE, PARKING STRUCTURE • 74,947 SF
      515 400th E, Salt Lake City, UT 84111-3584
      View Details
    • Value Estimation
      $1,370,000
      82,072 SF

      447 100th S

      PARKING GARAGE, PARKING STRUCTURE • 82,072 SF
      447 100th S, Salt Lake City, UT 84111-1842
      View Details
    • Value Estimation
      $955,000
      102,060 SF

      250 200th S

      PARKING GARAGE, PARKING STRUCTURE • 102,060 SF
      250 200th S, Salt Lake City, UT 84111-2472
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      258,823 SF

      Class A Office Tower Downtown

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      Downtown Salt Lake City Dealership

      Highly visible commercial auto dealership in downtown Salt Lake City.
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      Downtown Office/Retail Building For Sale

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      Retail Space on State Street

      Retail space with high visibility, close to downtown.
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    • $2,562,000
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      Multi-Story Commercial Building For Sale

      Multi-story commercial building with potential owner/user opportunity in Salt Lake City.
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      Historic Main Street Retail Space

      Iconic Salt Lake City building with approximately 15,000 square feet.
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    Similar Nearby for Lease

    • $20 SF/Yr
      5,750 SF

      Downtown Retail Space with Parking

      Prime retail space in downtown Salt Lake City with parking.
      680 S State St, Salt Lake City, UT 84111
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    • $6 SF/Yr
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      Midtown Salt Lake City Office Suites

      9 Executive Office Spaces Available, 119-2000 sqft
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      2,182 SF

      Prime Salt Lake City Retail Space

      Single-tenant retail space, 2,182 sq ft.
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      View Details
    • Contact for pricing
      9,180 SF

      Freestanding Retail Building For Lease

      9,180 SF retail building with open floor plan.
      675 S State St, Salt Lake City, UT 84111
      View Details
    • $22 SF/Yr
      4,703 SF

      Retail Space on State Street

      Prime retail space with high visibility and updated features.
      1083 South State St, Salt Lake City, UT 84111
      View Details
    • Contact for pricing
      3,521 SF

      Downtown Drive-Thru Restaurant Opportunity

      Rare drive-thru opportunity in downtown Salt Lake City.
      143 E Social Hall Ave, Salt Lake City, UT 84111
      View Details
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    151 State St
    Salt Lake City, UT 84111-1536
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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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