Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2188 Highland Dr Salt Lake City, UT

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space available in a desirable Salt Lake neighborhood.

    Type:RETAIL
    Property size:
    3,160 SF
    Lot size:
    2.14 Acres
    Added:
    Jul 11, 2023
    Days on Market:
    1017
    Last Refresh:
    Apr 5 at 9:56 pm

    Property Features for 2188 Highland Dr

    General Information

    Standard status
    Active
    Size
    3,160 SF
    Lot size
    2.14 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 2188 Highland Dr Contact us

    We can help!

    Listing Contact
    Garrett Blomquist
    Garrett Blomquist

    Listing agent Garrett Blomquist License #5500481-SA00

    Listing office Mountain West - Corporate

    Listing date Jul 11, 2023

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Mountain West - Corporate

    Overview

    Retail Space in Sugar House

    Available in Q3/Q4 2024, this retail space offers 3,105 square feet. It is located on the main level of a 186-unit development of high-end, modern apartments. Situated in Sugar House, one of Salt Lake's most desirable neighborhoods, the property is a 5-minute drive to downtown Salt Lake. The location is within walking distance of Sugar House Park and UTA's Trax commuter train. Sugar House is known for its restaurants, breweries, and retail options. The estimated year 1 NNN fee is $10.00 per square foot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Residences at Sugar Alley Apartment Rental Agency Edward Jones - Financial ... Financial Advisor

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.859
    Latitude
    40.7233

    Nearby Similar for Lease

    • $2,150,000/mo

      Salt Lake City Commercial Opportunity

      Commercial building with drive-through on a large lot for rent.
      2714 S 300 W, Salt Lake City, UT 84115
      View Details
    • $1,100,000/mo

      Commercial Space on State Street

      High-traffic commercial building with parking in Salt Lake City.
      1480 S STATE St, Salt Lake City, UT 84115
      View Details
    • Sponsored
      Contact for pricing

      UT, Salt Lake City - 250 E 200 S

      250 200, Salt Lake City, UT 84111
      View Details
    • Contact for pricing

      222 Main

      222 Main St, Unit 5TH, Salt Lake City, UT 84101
      View Details
    • $15/mo

      Remodeled Office Space Near Airport

      Recently remodeled office spaces with gated parking and easy access.
      1890 South 3850 West, Salt Lake City, UT 84104
      View Details
    • $16/mo

      Freestanding Millcreek Office/Medical Building

      Freestanding office/medical building in the heart of Millcreek.
      3350 S Highland Dr, Salt Lake City, UT 84106
      View Details
    • $24/mo

      Prime Retail Space Available

      Hard corner retail space in thriving downtown South Salt Lake.
      1 West Burton, Salt Lake City, UT 84115
      View Details
    • Contact for pricing

      Sugarhouse Center

      2150 1300, Unit 500, Salt Lake City, UT 84106
      View Details
    • $38/mo

      Restaurant Space on Main Street

      Turn-key restaurant space with furniture, fixtures, and equipment included.
      270 S Main St, Salt Lake City, UT 84101
      View Details
    • $32/mo

      Prime Retail/Office Space Available

      Versatile space in vibrant downtown Salt Lake City.
      360 West 300 South, Salt Lake City, UT 84101
      View Details
    • Contact for pricing

      Sugar House Office Space

      Furnished office space in Sugar House available for rent.
      1174 E GRAYSTONE Way, Salt Lake City, UT 84106
      View Details
    • $21/mo

      Downtown Office Building For Rent

      Freestanding office building in downtown Salt Lake City.
      510 S 200 W, Salt Lake City, UT
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space available in a desirable Salt Lake neighborhood.
    Where is this retail space located?
    The property is located at 2188 Highland Dr Salt Lake City, UT.
    What are key features of this property?
    This property features: Located in Sugar House, one of Salt Lake's most desirable neighborhoods.; Main level retail space in a new 186‑unit high‑end apartment development.; Walking distance to Sugar House Park and UTA's TRAX commuter train.
    (801) 456-8800 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Garrett Blomquist
    Garrett Blomquist
    Real Estate License ID: 5500481-SA00
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!