Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    3166 E Horse Mountain Circle lot 197, Heber City, UT 84032

    View on Map
    Claim this Listing
    Pending
    $450,000

    LAND - Heber City, UT

    Lot size:
    0.77 Acres
    Added:
    Jan 6, 2026
    Days on Market:
    146
    Last Refresh:
    Jun 1 at 6:06 am

    Property Features for 3166 E Horse Mountain Circle lot 197

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    00-0020-7454
    Lot size
    0.77 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    4192

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Christine Fielding
    Christine Fielding

    Listing agent Christine Fielding

    Listing office Christie's Int. RE VUE 1790 Bonanza Drive Suite 201, Park City, UT

    Listing date Jan 6, 2026

    MLS# 12600032 Listing URL

    Copyright © 2026 Park City Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Sweeping views of the Wasatch Mountain Range and south valley on a 0.77‑acre lot.
    • Located in the prestigious Red Ledges private community.
    • Proximity to Red Ledges Equestrian Area with full‑service equestrian program.
    • Complimentary access to Deer Crest Club, Stag Lodge, and Mariposa with ski‑in/ski‑out amenities.
    • Only 12 minutes from Deer Valley skiing with convenient ski shuttle services.
    • Gently sloping lot ideal for designing a custom mountain retreat.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Heber City
    County
    Wasatch
    State
    Utah
    Longitude
    -111.363243
    Latitude
    40.512218

    Nearby Similar for Sale

    • $8,950,000
      9,400 SF

      Refined Equestrian Estate in Heber

      20-acre equestrian estate with world-class facilities and development potential.
      4555 E 1200 S, Heber City, UT 84032
      View Details
    • $6,250,000
      9,400 SF

      Heber Valley Equestrian Estate

      Refined equestrian estate on 10 acres with world-class facilities.
      1052 S 4800 E, Heber City, UT 84032
      View Details
    • $840,000

      Heber City Land with Views

      Homesite with panoramic views and access to community amenities.
      2646 E Boulder Top Way lot: 579, Heber City, UT 84032
      View Details
    • $550,000

      Heber City Homesite with Views

      0.51-acre homesite with panoramic mountain and valley views.
      108 N Haystack Mountain Drive lot: 7, Heber City, UT 84032
      View Details
    • $625,000

      Red Ledges Homesite with Mountain Views

      Homesite in premier golf community with sweeping mountain views.
      3140 E Horse Mountain Circle lot: 196, Heber City, UT 84032
      View Details
    • $719,000

      Heber City Corner Lot Parcel

      Development opportunity in Heber City's Central Neighborhood District.
      217 E 100 S, Heber City, UT 84032
      View Details
    • $239,000

      Premier Homesite in Timber Lakes

      Exceptional homesite with privacy, access, and natural beauty.
      4403 FAWN Way S, Heber City, UT 84032
      View Details
    • $135,000

      Mountain Homesite with Stunning Views

      Ready-to-build homesite in a gated mountain community.
      2187 Westview Drive, Heber City, UT 84032
      View Details
    • $1,390,000

      Heber City Land with Water

      7.41 acre agricultural land with water rights near Park City.
      4714 E LAKE CREEK RD, Heber City, UT 84032
      View Details
    • $1,390,000

      Heber City Land with Water

      7.41 acre agricultural and single-family zoned land.
      4714 E Lake Creek Road, Heber City, UT 84032
      View Details
    • $880,000

      Heber City Land with Views

      Corner homesite in Red Ledges with panoramic mountain views.
      1518 N Red Castle Circle lot: 648, Heber City, UT 84032
      View Details
    • $2,200,000

      Heber City Land with Views

      Premier homesite with panoramic mountain views in Red Ledges.
      1601 A1 Peak Drive lot: 492, Heber City, UT 84032
      View Details

    FAQs

    Where is this residential land & home lot located?
    The property is located at 3166 E Horse Mountain Circle lot 197 Heber City, UT.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: Sweeping views of the Wasatch Mountain Range and south valley on a 0.77‑acre lot.; Located in the prestigious Red Ledges private community.; Proximity to Red Ledges Equestrian Area with full‑service equestrian program.
    (801) 631-8890
    We can help!
    Listing Contact
    Christine Fielding
    Christine Fielding
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3166 E Horse Mountain Circle lot: 197, Heber City, UT 84032
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!