Investment Overview

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 carry income and reduced capital needs. 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 support a wide range of light industrial, service, and contractor uses. Market rents underwrite at approximately $12.50–$13.50/ SF NNN for industrial/flex and $15.00–$16.00/SF NNN for office, supporting stabilized NOI potential of approximately $580,000–$620,000