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    5650 State St Salt Lake City, UT 84107-6131
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    Property profile & analytics

    5650 State St, Salt Lake City, UT 84107-6131

    View on Map
    • Automotive properties
    • 76,314 SF
    • 6.60 lot acres
    Off-Market
    Last Sale Dec 29, 2021
    Property ID
    US86-0551831
    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.
    Value Estimations
    $4,300,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Toyota Murray Parts Department / Auto Parts Store
    • Larry H. Miller Toyota Murray / Car Dealership
    • Toyota Murray Service Department / Auto Repair Shop

    Property Details for 5650 State St

    Year built
    2010
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    6.60 lot acres
    Zone code
    CDC
    Property type
    Automotive properties
    APN
    22-18-151-010
    APU
    2218151010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 29, 2021 — Lhm Mur LLC Miller Family Real Estate LLC Special Warranty Deed $1M · Bank Of America NA
    Jun 27, 2005 — Miller Family Real Estate LLC — Deed Of Trust · related $200M · Comerica Bank
    Mar 24, 1998 — Miller Family Real Estate LLC Miller,lawrence H & Karen G Quit Claim Deed · related —
    — — Miller Family R/e LLC — Deed Of Trust · related $280M · Comerica Bank
    — — Miller Fam R & E LLC — Loan Modification · related $279M · Comerica Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $6,105,000
      Current use
      WAREHOUSE, STORAGE
      $7,160,000
      Change: +17% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $5,660,000
      Change: -7% Conversion: Difficult
      RETAIL STORES
      $5,370,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.89
    Latitude
    40.6486
    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
    $161,428
    $5,749,900
    $13,110,700
    $18,860,600
    -
    $5,749,900
    $13,110,700
    $18,860,600

    Comparable in this City

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      $2,670,000
      46,250 SF

      4735 State St

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    • Value Estimation
      $2,215,000
      32,538 SF

      4595 State St

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    • Value Estimation by Request
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      120 4500th S

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    • Value Estimation by Request
      5,160 SF

      4444 State St

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    • Value Estimation
      $4,550,000
      85,152 SF

      5500 State St

      VEHICLE SALES, RENTALS
      5500 State St, Salt Lake City, UT 84107-6031
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    • Value Estimation
      $2,625,000
      45,163 SF

      4646 State St

      VEHICLE SALES, RENTALS
      4646 State St, Salt Lake City, UT 84107-3816
      View Details

    Similar Nearby for Sale

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      Well-located multifamily community with income and appreciation potential.
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      Two-Story Office Condo For Sale

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      2,472 SF

      Functional Office Suites Available

      Move-in ready office suites with freeway visibility for rent.
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      60,723 SF

      Office Building with I-15 Visibility

      60,723 SF office building with immediate occupancy available.
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    • $3,500,000
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      Two-Story Office Building in Murray

      Two-story office building with long-term lease and future development potential.
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      2,972 SF

      Commercial Building Near Fashion Place Mall

      2,972 SF commercial building with value-add opportunity near Fashion Place.
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    Similar Nearby for Lease

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      3,500 SF

      Retail Space with Drive-Thru Potential

      3,500 SF retail space near I-15 and IHC Hospital.
      5283 S State St, Salt Lake City, UT 84107
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      41,968 SF

      Retail Space Available For Lease

      Retail property available for lease in Murray, Utah.
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      1,836 SF

      Versatile Space Near Transportation Hub

      Adaptable space suitable for medical, retail, or office teams.
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    • Contact for pricing
      2,261 SF

      Retail/Office/Medical Space For Rent

      Versatile space near transportation and medical center.
      244 W Vine St, Salt Lake City, UT 84107
      View Details
    • Contact for pricing
      5,024 SF

      Flex Industrial and Retail Space

      New development with flex, industrial, and retail spaces available.
      249 S 5600 W, Salt Lake City, UT 84107
      View Details

    Property Visit Statistics

    • Visits by month
      11.7k
    • Visitors by month
      9.3k
    • Avg Time on site
      41 min
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    Salt Lake City, UT 84107-6131
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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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