Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6022 State St Salt Lake City, UT 84107-7225

    • Retail space
    • 60,000 SF
    • 4.27 lot acres
    OFF-MARKET
    Value Estimations
    $2,935,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0481147
    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

    • Planet Fitness / Spa / Tanning Salon

    Property Details for 6022 State St

    Year built
    1974
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    4.27 lot acres
    Property size
    60,000 SF
    Zone code
    C-D
    Property type
    Retail space
    APN
    22-18-352-019
    APU
    2218352019

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,825,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,047,000
      Market price range: $2.61M - $6.05M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $4,220,000
      Current use
      AUTO REPAIR, GARAGE
      $4,800,000
      Change: +14% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $4,450,000
      Change: +5% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $3,810,000
      Change: -10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.89
    Latitude
    40.6396
    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
    $76,202
    $2,604,000
    $6,299,100
    $8,903,100
    -
    $2,604,000
    $6,299,100
    $8,903,100

    Comparable in this City

    • Value Estimation by Request
      0.01 Acres

      851 4500th S

      RETAIL STORES (PERSONAL SERVICES) • 0.01 Acres
      851 4500th S, Salt Lake City, UT 84107-3049
      View Details
    • Value Estimation by Request
      2.85 Acres

      6230 Fashion Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2.85 Acres
      6230 Fashion Blvd, Salt Lake City, UT 84107
      View Details
    • Value Estimation by Request
      0.01 Acres

      55 Columbia Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.01 Acres
      55 Columbia Ave, Salt Lake City, UT 84107-2596
      View Details
    • Value Estimation by Request
      0.11 Acres

      6284 State St

      RETAIL STORES (PERSONAL SERVICES) • 0.11 Acres
      6284 State St, Salt Lake City, UT 84107-7227
      View Details
    • Value Estimation by Request
      0.04 Acres

      160 Winchester St

      RETAIL STORES (PERSONAL SERVICES) • 0.04 Acres
      160 Winchester St, Salt Lake City, UT 84107-7211
      View Details
    • Value Estimation
      $585,000
      10,621 SF

      6102 State St

      RETAIL STORES (PERSONAL SERVICES) • 10,621 SF
      6102 State St, Salt Lake City, UT 84107-7226
      View Details

    Similar Nearby for Sale

    • $2,590,000
      1.67 Acres

      Prime Murray Retail Investment

      High-exposure, long-term ground lease.
      6161 State St, Murray, UT 84107
      View Details
    • $1,350,000

      Industrial Land with Income Potential

      0.61 acres with income-producing homes, zoned for industrial outdoor storage.
      4586 S 200 W, Murray, UT 84107
      View Details
    • $4,791,600

      Land Positioned for Development

      Land suitable for mixed-use development in a growing area.
      700 E 3900 S, Salt Lake City, UT 84107
      View Details
    • $1,242,880
      3,884 SF

      Class-A Office Building For Sale

      Conveniently located office building with class-A finishes and gym.
      746 E Winchester St, Salt Lake City, UT 84107
      View Details
    • $782,800
      3,914 SF

      Functional Office Space Near Mall

      3,914 SF office space near Fashion Place Mall.
      6000 S Fashion Blvd, Salt Lake City, UT 84107
      View Details
    • $409,999
      1,320 SF

      Spacious Top-Floor Condo with Updates

      Updated 2-bedroom, 2-bath condo in Waylan Station Old Farm community.
      657 E 4065 S, Salt Lake City, UT 84107
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      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
      View Details
    • $22 SF/Yr
      1,836 SF

      Versatile Space Near Transportation Hub

      Adaptable space suitable for medical, retail, or office teams.
      182-196 W Vine St, Murray, UT 84107
      View Details
    • $31 SF/Yr
      10,705 SF

      Remodeled Retail/Office Space Available

      Recently remodeled retail or office space in downtown Murray.
      4901 S State St, Murray, UT 84107
      View Details
    • Contact for pricing
      2,313 SF

      Flex Industrial and Retail Space

      New development in growing industrial area, near future corridor.
      229 S 5600 W, Salt Lake City, UT 84107
      View Details
    • $40 SF/Yr
      3,005 SF

      Restaurant Space Near Fashion Place

      Restaurant space for lease anchored by Sprouts and Men’s Wearhouse.
      6262-6356 S State St, Salt Lake City, UT 84107
      View Details
    • Contact for pricing
      6,976 SF

      Retail Space Available For Lease

      6,976 SF retail space with high traffic counts.
      158-206 E Winchester St, Salt Lake City, UT 84107
      View Details

    Property Visit Statistics

    • Visits by month
      37.2k
    • Visitors by month
      30.1k
    • Avg Time on site
      46 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    6022 State St
    Salt Lake City, UT 84107-7225
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.