Entity Owned Property summary
AI-generated overview
This exceptional 51,590 square foot Class B medical office building, constructed in 2017, is situated on a 4.35-acre lot in the Interchange submarket of South Salt Lake, Utah. The property boasts a two-story design and offers ample parking with a ratio of 4.3 spaces per 1,000 square feet. Currently, there is 1,596 square feet of vacant space available for lease, previously used as a pharmacy. The building is configured as a single suite, making it ideal for a variety of medical practices or related businesses. Its location in Salt Lake County, at 3702 S State St, 84115, provides excellent accessibility and visibility. The property's multiple tenancy structure offers flexibility, and its modern design and ample space cater to the needs of growing medical businesses. This is a rare opportunity to secure a well-maintained, strategically located medical office space in a thriving area. The building's 2017 construction ensures modern amenities and efficient layouts. The available space presents a chance to establish or expand a medical practice in a high-demand location. Interested parties should inquire about lease terms and availability.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2017
Total area
53,756 SF
Lot
4.29 ac (186,872 SF)
Zoning code
Z BUS
APN
16-31-151-082
UPID
US86-1101324
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Physician Medical Clinic
-
Physician Medical Clinic
-
Physician Medical Clinic
-
Physician Medical Clinic
-
Medical Clinic
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$11.69M
Comparable Approach
Comparable
$9.12M
Blend (final)
Blend
$10.41M
Owner & transaction history
since 2023
3 recorded transactions
Zoning & alternative use
Z BUS · South Salt Lake, UT
Top alternative use upside
Restaurant
$7.4M
+4.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$10.41M
Value range
$9.37M – $11.45M
±10% around blend
Estimated value / SF
$194 / SF
Confidence
Property data
100
Comparable evidence
60
$9.37M
blend $10.41M
$11.45M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
53,756 SF
Lot area
4.29 ac
Year built
2017
Stories
2
APN
16-31-151-082
Zoning
Z BUS
Assessed value
$13,661,900
Annual tax
$159,967
3
Income approach: direct capitalization
Partial preview
Income approach indication
$11.69M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$12.67M
@ 6.5% CAP return
$11.69M
@ 7% CAP return
$10.86M
4
Sales comparison
Partial preview
Sales approach indication
$9.12M
Range $2.79M – $10.84M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$10.41M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+4%
vs current-use indication
Medical Building · current use
Commercial (general)
Retail Stores
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$13.66M
Move the market yield to see immediate price impact.
Value / SF
$254
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$861k
$17.21M
$12.30M
$9.56M
$956k
$19.13M
$13.66M
$10.63M
$1.05M
$21.04M
$15.03M
$11.69M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$159,967
Tax year 2023
Assessed value
$13,661,900
Assessed 2023
Previous assessed
$13,661,900
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$4,157,900
Assessed improvement
$9,504,000
Land market value
$4,157,900
Improvement market value
$9,504,000
Total market value
$13,661,900
Applied tax rate
14.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2017
Heating
NONE
Cooling
YES
Buildings
2
Stories
2
Total area
53,756 SF
Lot
4.29 ac (186,872 SF)
Zoning code
Z BUS
APN
16-31-151-082
UPID
US86-1101324
Jurisdiction
SALT LAKE
Zoning & alternative use
Z BUS · South Salt Lake, UTZoning Z BUS · permitted uses
Z BUS · South Salt Lake, UT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2017
Heating
NONE
Cooling
Yes
Stories
2
Buildings
2
Lot
4.29 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
Z BUS
Jurisdiction
South Salt Lake, UT
Recorded code
Z BUS
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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