Log In/Sign Up
Your email has been sent.
3125 S State St 46,420 SF 100% Leased Industrial Building Salt Lake City, UT 84115 $10,790,995 CAD ($232.46 CAD/SF) 7% Cap Rate
Investment Highlights
- Performing In-Place Tenants– Current tenant is operating successfully and growing their book of business, providing stable occupancy and income potent
- Value-Add Income Growth – Opportunity for a new owner to increase NOI
- Investor or Owner-User Opportunity – Ideal for investors seeking income growth or owner-users who can occupy space while generating rental income.
- Flexible Commercial Use – Building layout supports a variety of uses including office, service, retail, or professional space.
- Limited Local Inventory – Demand from local businesses seeking space
Executive Summary
3125 S State Street is a 46,420 SF (gross) industrial / flex property in South Salt Lake offering a compelling owner user or value-add opportunity. Approximately 13,500 SF is leased to Victory Outreach under a net lease generating ~$146,400 of base rent in 2026, with ~2.5 years remaining and renewal options. The tenant has completed extensive recent interior renovations, providing commitment to the space.
The remaining ±32,900 SF of industrial and office flex space is available for immediate owner occupancy or lease-up. Clear heights of approximately 10–15+ feet or higher if renovated, to support a wide range of showroom, industrial, service, and contractor uses with yard. Market rents underwrite at approximately $12.50–$13.50/SF NNN for industrial/flex and $15.00–$16.00/SF NNN for showroom, supporting stabilized NOI potential of approximately $550,000–$620,000+.
The remaining ±32,900 SF of industrial and office flex space is available for immediate owner occupancy or lease-up. Clear heights of approximately 10–15+ feet or higher if renovated, to support a wide range of showroom, industrial, service, and contractor uses with yard. Market rents underwrite at approximately $12.50–$13.50/SF NNN for industrial/flex and $15.00–$16.00/SF NNN for showroom, supporting stabilized NOI potential of approximately $550,000–$620,000+.
Property Facts
| Price | $10,790,995 CAD | Lot Size | 1.40 AC |
| Price Per SF | $232.46 CAD | Rentable Building Area | 46,420 SF |
| Sale Type | Investment or Owner User | No. Stories | 2 |
| Cap Rate | 7% | Year Built/Renovated | 1978/2010 |
| Property Type | Industrial | Parking Ratio | 1.57/1,000 SF |
| Property Subtype | Warehouse | No. Drive In / Grade-Level Doors | 2 |
| Building Class | B | ||
| Zoning | 2000 - Commercial | ||
| Price | $10,790,995 CAD |
| Price Per SF | $232.46 CAD |
| Sale Type | Investment or Owner User |
| Cap Rate | 7% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 1.40 AC |
| Rentable Building Area | 46,420 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1978/2010 |
| Parking Ratio | 1.57/1,000 SF |
| No. Drive In / Grade-Level Doors | 2 |
| Zoning | 2000 - Commercial |
Amenities
- Bus Line
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 16-30-305-004-0000 | Improvements Assessment | $4,674,719 CAD |
| Land Assessment | $2,594,335 CAD | Total Assessment | $7,269,054 CAD |
Property Taxes
Parcel Number
16-30-305-004-0000
Land Assessment
$2,594,335 CAD
Improvements Assessment
$4,674,719 CAD
Total Assessment
$7,269,054 CAD
1 of 24
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
3125 S State St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.