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

    3144 State St South Salt Lake, UT 84115-3886

    • Strip malls
    • 3,930 SF
    • 0.37 lot acres
    OFF-MARKET
    Last Sale
    Nov 03, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0408750
    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

    • Villaggio Pizzeria / Pizza Restaurant
    • VIETOPIA BANH MI & COFFEE / Vietnamese Restaurant
    • Bigeye Poke & Grill Salt Lake / Hawaiian Restaurant / Poke Bar

    Property Details for 3144 State St

    Year built
    2017
    Construction
    WOOD FRAME
    Lot size
    0.37 lot acres
    Property size
    3,930 SF
    Zone code
    CC
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    16-30-302-026
    APU
    1630302026

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    South Salt Lake
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.889
    Latitude
    40.7025
    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
    2023
    $19,997
    $492,000
    $1,215,800
    $1,707,800
    -
    $492,000
    $1,215,800
    $1,707,800

    Comparable in this City

    • Value Estimation
      $2,640,000
      87,715 SF

      78 3750th S

      SHOPPING CENTER, STRIP CENTER • 87,715 SF
      78 3750th S, South Salt Lake, UT 84115-4428
      View Details
    • Value Estimation by Request
      608 SF

      3232 400th E, Unit 2

      SHOPPING CENTER, STRIP CENTER • 608 SF
      3232 400th E, South Salt Lake, UT 84115-4761
      View Details
    • Value Estimation
      $850,000
      7,996 SF

      3317 State St

      SHOPPING CENTER, STRIP CENTER • 7,996 SF
      3317 State St, Salt Lake City, UT 84115
      View Details
    • Value Estimation by Request
      4,406 SF

      355 3300th S

      SHOPPING CENTER, STRIP CENTER • 4,406 SF
      355 3300th S, South Salt Lake, UT 84115-4110
      View Details
    • Value Estimation by Request
      3,871 SF

      3232 400th E, Unit 5

      SHOPPING CENTER, STRIP CENTER • 3,871 SF
      3232 400th E, South Salt Lake, UT 84115-4761
      View Details
    • Value Estimation by Request
      2,944 SF

      3370 State St Ste, Unit 9

      SHOPPING CENTER, STRIP CENTER • 2,944 SF
      3370 State St Ste, South Salt Lake, UT 84115-5099
      View Details

    Similar Nearby for Sale

    • $1,575,000

      South Salt Lake Restaurant/Warehouse

      Prime Retail Investment Opportunity in Utah
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      Prime South Salt Lake Retail Space

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      Grocery Store and Restaurant Opportunity

      Profitable international grocery store and restaurant for sale in Salt Lake City.
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    • Contact for pricing
      5,800 SF

      Corner Lot Restaurant Opportunity

      Restaurant on corner lot with FF&E included for sale.
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    • $800,000
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      Warehouse Building with Fenced Yard

      Warehouse building with fenced yard, suitable for various uses.
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      Versatile building with retail, warehouse, and office space.
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    Similar Nearby for Lease

    • Contact for pricing
      12,000 SF

      I-15 Marketplace: Retail Opportunity

      Salt Lake City Shopping Center Space Available
      389 1830, Salt Lake City, UT 84115
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    • $30 SF/Yr
      1,608 SF

      Prime Retail Space Available

      Retail space in Utah's leading retail corridor.
      237-261 W 2100 S, Salt Lake City, UT 84115
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    • $30 SF/Yr
      5,062 SF

      Prime Retail Space Available

      Retail space in Utah's leading retail corridor for lease.
      281-291 W 2100 S, Salt Lake City, UT 84115
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    • Contact for pricing
      2,274 SF

      Harmony 3900 Retail Space

      South Salt Lake retail space for lease.
      3839 Temple St, South Salt Lake, UT 84115
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    • $24 SF/Yr
      2,100 SF

      Retail Space in South Salt Lake

      Retail space with high ceilings and freeway access.
      2345 S Main St, Salt Lake City, UT 84115
      View Details
    • Contact for pricing
      6,965 SF

      Automotive Shop Space Available

      Automotive shop with service garage, storage warehouse, and office space.
      3445 West Temple S, Salt Lake City, UT 84115
      View Details

    Property Visit Statistics

    • Visits by month
      8.2k
    • Visitors by month
      6.1k
    • Avg Time on site
      9 min
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    South Salt Lake, UT 84115-3886
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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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