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    Property profile & analytics

    95 State St Salt Lake City, UT 84111

    • Investment properties
    • 622,395 SF
    • 0.73 lot acres
    For Lease
    View listing
    $42 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0056476
    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

    • Marcus & Millichap / Real Estate Agency
    • Foley & Lardner LLP: Jared Braithwaite / Law Firm
    • Maschoff Brennan | Intellectual Property Law Firm / Law Firm
    • MGIS / Insurance Agency
    • Leavitt Equity Partners / Corporate Office / Financial Advisor

    Property Details for 95 State St

    Year built
    2020
    Lot size
    0.73 lot acres
    Property size
    622,395 SF
    Zone code
    D1
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    16-06-104-031
    APU
    1606104031

    Description

    This prestigious 25-story, Class A office tower in Salt Lake City's City Creek Center offers 514,074 rentable square feet of modern workspace. Currently, there are eight available suites ranging from 2,598 to 23,977 square feet, perfect for businesses of all sizes. The building boasts a stunning 75-foot 8k display screen in its elegant lobby and a unique 5,000-square-foot fifth-floor garden terrace, providing a tranquil outdoor space for tenants and guests. Its prime downtown location offers unparalleled convenience, directly connected to City Creek Center via a renovated pedestrian tunnel. High-quality finishes, including natural wood and stone, create a warm and inviting atmosphere, fostering a productive work environment. Built in 2022, 95 State at City Creek represents the pinnacle of modern office design and functionality, offering cutting-edge workspace in the heart of Salt Lake City. The building's central location and impressive amenities make it an ideal choice for businesses seeking a prestigious and efficient work environment. Contact us today to learn more about available spaces and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $68,643,000
      Market price range: $18.6M - $68.6M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $40,560,000
      Current use
      MEDICAL BUILDING
      $82,120,000
      Change: +102% Conversion: Easy
      RETAIL STORES
      $51,035,000
      Change: +26% Conversion: Easy
      RESTAURANT
      $49,100,000
      Change: +21% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $43,990,000
      Change: +8% 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
    -111.888
    Latitude
    40.768
    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
    $1,877,286
    $2,902,900
    $207,767,200
    $210,670,100
    -
    $2,902,900
    $207,767,200
    $210,670,100

    Comparable in this City

    • Value Estimation
      $1,410,000
      55,206 SF

      32 Exchange Pl

      STORE/OFFICE (MIXED USE) • 55,206 SF
      32 Exchange Pl, Salt Lake City, UT 84111-2704
      View Details
    • Value Estimation
      $13,870,000
      125,706 SF

      35 500th S

      STORE/OFFICE (MIXED USE) • 125,706 SF
      35 500th S, Salt Lake City, UT 84111-3200
      View Details
    • Value Estimation by Request
      404 SF

      461 200th Sb5

      STORE/OFFICE (MIXED USE) • 404 SF
      461 200th Sb5, Salt Lake City, UT 84111-2137
      View Details
    • Value Estimation by Request
      531 SF

      445 200th Sa8

      STORE/OFFICE (MIXED USE) • 531 SF
      445 200th Sa8, Salt Lake City, UT 84111-2139
      View Details
    • Value Estimation
      $3,255,000
      70,323 SF

      345 200th E

      STORE/OFFICE (MIXED USE) • 70,323 SF
      345 200th E, Salt Lake City, UT 84111-2801
      View Details
    • Value Estimation
      $1,570,000
      56,240 SF

      231 400th S

      STORE/OFFICE (MIXED USE) • 56,240 SF
      231 400th S, Salt Lake City, UT 84111-2830
      View Details

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      Salt Lake City Land Opportunity

      Land for sale with RMU zoning and development potential.
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      Prime Location Near Downtown SLC

      High-traffic location with easy access to transportation and amenities.
      1169 South State St, Salt Lake City, UT 84111
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      69,696 SF

      Oquirrh School: Creative Office Space

      Salt Lake City Creative Office, 5,000-20,000 SF
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      View Details
    • $19 SF/Yr
      20,000 SF

      Salt Lake City Office Space

      Prime Executive Office Suites Available Now
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      View Details
    • Contact for pricing
      1,800 SF

      Retail Space Near UofU, SLC

      20,033 SF retail space with pylon signage available for lease.
      612-634 E 400 S, Salt Lake City, UT 84111
      View Details
    • $26 SF/Yr
      2,000 SF

      Retail Space Near University

      Retail spaces available near downtown and the University of Utah.
      457 E 300 S, Salt Lake City, UT 84111
      View Details
    • Contact for pricing

      Freestanding Retail Building For Lease

      Freestanding retail building in downtown Salt Lake City available for lease.
      158 South State St, Salt Lake City, UT 84111
      View Details
    • Contact for pricing
      5,500 SF

      Historic Space with Unique Features

      Unique space for office, retail, restaurant, or bar use.
      445 S 400 W, Salt Lake City, UT 84111
      View Details
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    95 State St
    Salt Lake City, UT 84111
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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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