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Property profile & analytics
FOR LEASE
Auto shops
4231 S State St Salt Lake City, UT 84107
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US86-0019614
For Lease
1 / 4
$17.60 SF/Yr
4231 S State St, Salt Lake City, UT 84107
View Listing →
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1987
Construction
STEEL FRAME
Total area
11,776 SF
Lot
1.93 ac (84,071 SF)
Zoning code
M-1
APN
22-06-153-025
UPID
US86-0019614
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
-
MAS Car Dealership
-
Arbor+ Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$840k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.30M
Blend (final)
Blend
$1.07M
Owner & transaction history
Jm State St LLC · 2 yrs held
Jm State St LLC
since 2024
6 recorded transactions
Zoning & alternative use
M-1 · Salt Lake City, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.7M
+80.9%
Commercial (general)
$1.2M
+23.0%
Restaurant
$1.1M
+19.4%
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
$840,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$940,000
Current use
MEDICAL BUILDING
$1,705,000
Change: +81% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,160,000
Change: +23% · Conversion: Moderate
RESTAURANT
$1,125,000
Change: +19% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,105,000
Change: +17% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$875,000
Change: -7% · Conversion: Difficult
RETAIL STORES
$830,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$1.07M
Range $963k – $1.18M · ±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
$91 / 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
$45,690
Tax year 2023
Assessed value
$3,886,500
Assessed 2023
Previous assessed
$3,886,500
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$1,618,100
Assessed improvement
$2,268,400
Land market value
$1,618,100
Improvement market value
$2,268,400
Total market value
$3,886,500
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
For Lease
Year built
1987
Construction
STEEL FRAME
Heating
NONE
Buildings
5
Stories
2
Units
1
Total area
11,776 SF
Lot
1.93 ac (84,071 SF)
Zoning code
M-1
APN
22-06-153-025
UPID
US86-0019614
Jurisdiction
SALT LAKE
Zoning & alternative use
M-1 · Salt Lake City, UT
Zoning M-1 · permitted uses
M-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
AUTO REPAIR, GARAGE Current
Est. value
$940,000
MEDICAL BUILDING
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.2M
RESTAURANT
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$875,000
RETAIL STORES
Est. value
$830,000
AUTO REPAIR, GARAGE Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
1987
Construction
STEEL FRAME
Heating
NONE
Stories
2
Buildings
5
Units
1
Lot
1.93 ac
Current owner
From public records · entity-resolved
Jm State St LLC
Entity
Mailing address
4231 S STATE ST, SALT LAKE CITY, UT 84107-1514
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 10, 2024
—
Jm State St LLC
—
Deed
related
$1,592,000 · Mountain West Small Business Finance
Apr 8, 2024
—
Jm State St LLC
Rim Enterprises LLC
Special Warranty Deed
$1,935,000 · Us Bank NA
Mar 12, 2015
—
Rim Ents
Fishlake Investments LLC
Warranty Deed
—
Apr 1, 2009
—
Fishlake Investments LLC
Richard L & Audrey C Lofgren L
Warranty Deed
$1,200,000 · Bank Of Utah
—
—
Fishlake Investments LLC
—
Deed Of Trust
related
$665,000 · Utah Certified Development Co
—
—
Fishlake Investments LLC
—
Deed Of Trust
related
$1,471,680 · Bank Of Utah
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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