132 State StSalt Lake City, UT 84111

Property Details for 132 State St

Lot size

0.10 AC

Zone code

D-1

Property type

Retail properties

Property subtype

Retail space

APN

16-06-151-025

APU

1606151025

Description

This stunning Class A office building, originally constructed in 1905 as The Orpheum Theater, offers 19,512 square feet of prime office space across three stories. A complete renovation in 2017 preserved the building's rich history and architectural details, including its iconic Second Renaissance Revival façade and the original 12-foot Venus statue. The building boasts multiple tenancy options, with four available spaces ranging from 4,936 to 6,504 square feet. Located at 132 State Street in the heart of Salt Lake City, Utah (zip code 84111), this landmark property provides tenants with a unique and prestigious address. The building's history as a beloved theater, later the Promised Valley Playhouse, adds to its character and charm. This is an exceptional opportunity to lease space in a beautifully restored, historically significant building in a vibrant downtown location. The building's impressive features and central location make it an ideal choice for businesses seeking a unique and high-quality office environment. The available spaces offer flexibility for various business needs and sizes.

• CAP approach

  CAP return

  Valuation

  6%

  $1,691,583

  6.5%

  $1,561,461

  7%

  $1,449,928

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,199,266

  Geo Method

  $2,199,266

• Alternative Use

  Use

  Valuation

  Residential

  $1,317,151

  Hospitality

  $1,206,503

  Educational

  $1,003,796

  Medical

  $1,038,318

  Retail

  $1,561,461

Location Insight

City

Salt Lake City

County

Salt Lake

State

Utah

Latitude

40.7659

Longitude

-111.889

CBSA code

41620

CBSA name

SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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