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    Retail/Medical Development Pad Site Title is generated by Realmo AI

    11904 Mustang Trail Way Unit 6, Herriman, UT 84096

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    For Sale
    $1,299,000

    Ready-to-develop pad with utilities stubbed for neighborhood retail, medical, and drive-thru concepts.

    Type:Land / Commercial
    Property size:
    60,548 SF
    Lot size:
    1.40 Acres
    Price / SF:
    $21/SF
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 2:48 am

    Property Features for 11904 Mustang Trail Way Unit 6

    General Information

    Standard status
    Active
    Size
    60,548 SF
    Lot size
    1.40 Acres
    Property subtype
    Land / Commercial

    We can help!

    Listing Contact
    Trisha Smith

    Listing agent Trisha Smith License #10804063

    Listing office Equity Real Estate (Solid)

    Listing date Jun 3, 2026

    Source Compass

    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 Equity Real Estate (Solid)

    HighLights

    • 1.397‑acre Commercial 1 pad site in the Teton Commercial Subdivision (Olympia Hills/Daybreak West area).
    • Utilities stubbed to the property: sewer, water, and gas, with the site ready for development.
    • Direct access via Teton Trails Lane and internal roads.
    • Strong traffic along Mustang Trail Way and 14000 South; located across from Herriman High School.
    • Site layout would support drive‑thru use for qualified retail/medical/quick‑service/service‑oriented users.
    • Part of a subdivision that includes retail, dental, office, event center, and a convenience gas site.

    Overview

    This listing offers a commercial pad site within the Teton Commercial Subdivision, presented as a ready development parcel for retail, medical, quick service restaurant, and service-oriented users. The site layout is described as supportive of a drive-thru configuration, and the pad is positioned for straightforward buildout with sewer, water, and gas stubbed to the property.

    The property is located along Mustang Trail Way and 14000 South in Herriman’s Olympia Hills/Daybreak West trade area, with direct access via Teton Trails Lane and internal roads. The public remarks also note the site sits across from Herriman High School and is positioned within a developing commercial mix that includes retail, dental, office, an event center, and a convenience gas site.

    For tenants, buyers, or developers seeking a site that can accommodate neighborhood-serving uses, this parcel is positioned for flexibility across retail and medical needs, including quick service formats that may benefit from drive-thru layout support. Utilities are already stubbed, which can reduce early project coordination and allow the development process to move forward with the site package provided by the listing.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Herriman
    County
    Salt Lake
    State
    Utah
    Longitude
    -112.033
    Latitude
    40.5144

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    FAQs

    What type of property is this?
    Commercial land - Ready-to-develop pad with utilities stubbed for neighborhood retail, medical, and drive-thru concepts.
    Where is this commercial land located?
    The property is located at 11904 Mustang Trail Way Unit 6 Herriman, UT.
    What is the asking price?
    The asking price for this property is $1,299,000.
    What are key features of this property?
    This property features: 1.397‑acre Commercial 1 pad site in the Teton Commercial Subdivision (Olympia Hills/Daybreak West area).; Utilities stubbed to the property: sewer, water, and gas, with the site ready for development.; Direct access via Teton Trails Lane and internal roads.
    (801) 557-2510
    We can help!
    Listing Contact
    Trisha Smith
    Real Estate License ID: 10804063
    Learn More
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    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
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    11904 Mustang Trail Way, Unit 6, Herriman, UT 84096
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