Sale Leaseback or Owner User Multi Tenant Flex Space
Owenr/User, Sale-Leaseback Industrial Flex Mixed use showroom space
Marketing description
3125 S State Street is a 43,250SF 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. Thetenant 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. With multiple additions throughout the years and a renovation in progress (2026), the property blends modern updates with completely solid red-iron industrial construction. The complete fire sprinkler system ensures compliance and safety with fire Marshall approval.
Investment highlights
Located in a strong commercial corridor, this low ppsq entry point deal offers either functionality for the new owern or investor and stabilized income to support ownership. The combination of industrial usability, office support, and net lease tenant income makes this a rare opportunity for businesses or investor who wants to own their real estate while benefiting from immediate cash flow in a prime location.
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