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Property profile & analytics
FOR LEASE
Warehouses
7638 State St, Midvale, UT 84047
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US86-0335203
For Lease
1 / 13
$4,800/Mo
7638 State St, Midvale, UT 84047
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,776 SF
Lot
1.23 ac (53,579 SF)
Zoning code
TOD
APN
21-25-479-024
UPID
US86-0335203
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$610k
CAP Approach
CAP
$985k
Comparable Approach
Comparable
$801k
Blend (final)
Blend
$800k
Owner & transaction history
Acres Development Group LLC · 2 yrs held
Acres Development Group LLC
since 2024
2 recorded transactions
Zoning & alternative use
TOD · Midvale, UT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$835,000
+41.8%
Auto repair, garage
$815,000
+38.7%
Commercial (general)
$805,000
+36.8%
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 Midvale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Midvale 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
$610,000
CAP Approach
CAP Return
Estimation
6%
$1,070,000
6.5%
$985,000
7%
$915,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$590,000
Current use
RESTAURANT
$835,000
Change: +42% · Conversion: Difficult
AUTO REPAIR, GARAGE
$815,000
Change: +39% · Conversion: Easy
COMMERCIAL (GENERAL)
$805,000
Change: +37% · Conversion: Difficult
RETAIL STORES
$600,000
Change: +2% · Conversion: Moderate
Blend value · Realmo final
$800k
Range $720k – $880k · ±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
$103 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$19,326
Tax year 2024
Assessed value
$1,867,380
Assessed 2024
Previous assessed
$1,867,380
+0.0% YoY
Effective rate
1.03%
On assessed value
Assessed land
$977,790
Assessed improvement
$889,590
Land market value
$977,790
Improvement market value
$889,590
Total market value
$1,867,380
Applied tax rate
30.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
CENTRAL
Buildings
2
Stories
1
Units
1
Rooms
10
Bathrooms
2
Total area
7,776 SF
Lot
1.23 ac (53,579 SF)
Zoning code
TOD
APN
21-25-479-024
UPID
US86-0335203
Jurisdiction
SALT LAKE
Zoning & alternative use
TOD · Midvale, UT
Zoning TOD · permitted uses
TOD · Midvale, UT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Midvale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$590,000
RESTAURANT
Est. value
$835,000
AUTO REPAIR, GARAGE
Est. value
$815,000
COMMERCIAL (GENERAL)
Est. value
$805,000
RETAIL STORES
Est. value
$600,000
WAREHOUSE, STORAGE Current
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
2
Units
1
Rooms
10
Bathrooms
2
Lot
1.23 ac
Current owner
From public records · entity-resolved
Acres Development Group LLC
Entity
Mailing address
7455 S UN PARK AVE STE A, SANDY, UT 84047-1902
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 25, 2024
—
Acres Development Group LLC
Willy Chun
Warranty Deed
$1,276,000 · Sli Commercial Real Estate Retireme
Jul 30, 1996
—
Chun Trust
Chun Trust
Quit Claim Deed
related
$180,000 · Us 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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