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    Ski-In Ski-Out Development Land Title is generated by Realmo AI

    309 White Pine Canyon Road Unit 309, Park City, UT 84060

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    For Sale
    $5,495,000

    22-lot land offering with SARC-approved plans potentially included, positioned on a quiet cul-de-sac with ski access.

    Type:Land / Recreational
    Property size:
    989,247 SF
    Price / SF:
    $5/SF
    Added:
    Sep 10, 2024
    Days on Market:
    635
    Last Refresh:
    Jun 6 at 3:25 am

    Property Features for 309 White Pine Canyon Road Unit 309

    General Information

    Standard status
    Active
    Size
    989,247 SF
    Property subtype
    Land / Recreational

    We can help!

    Listing Contact
    Michael Nielson

    Listing agent Michael Nielson License #5381680

    Listing office The Builders Brokerage LLC

    Listing date Sep 10, 2024

    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 The Builders Brokerage LLC

    HighLights

    • 22‑lot land offering in the Colony community of Park City
    • Situated on a quiet cul‑de‑sac within the Colony (Phase V)
    • SARC approved plans by Ezra Lee Design + Build may be included
    • Ski‑in, ski‑out access to Park City Mountain Resort
    • Panoramic views of surrounding peaks and valleys, plus ponds and wildlife

    Overview

    This offering consists of a 22-lot parcel in the Colony community, presented as a private site within a quiet cul-de-sac. The seller notes that SARC-approved plans by Ezra Lee Design + Build may be included, which is intended to help streamline early planning while adhering to community standards. The property is described as providing panoramic views of surrounding peaks and valleys, along with ponds and wildlife, as well as the natural landscape.

    The location is within the Colony, Phase V, and the public remarks state the site provides ski-in, ski-out access to Park City Mountain Resort. The property’s setting is also described as supportive of privacy, with access tied to the surrounding Colony infrastructure and amenities referenced in the remarks.

    For buyers or developers, the configuration supports building a custom residence (or residences, depending on how the 22-lot layout is pursued). The availability of SARC-approved plans may be particularly useful for parties seeking a more direct path from concept to compliant design, while still allowing a custom build approach consistent with community standards.
    Location Intelligence

    Current Use by Public Records

    Recreation land

    Suggested Use

    Real Estate Agency Restaurant Hair Salon Spa & Massage Center Nail Salon Kitchen & Bath Showroom Gym & Fitness Center Skin Care Clinic HVAC Service Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Park City
    County
    Summit
    State
    Utah
    Longitude
    -111.554913
    Latitude
    40.675329

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    FAQs

    What type of property is this?
    Recreation land - 22-lot land offering with SARC-approved plans potentially included, positioned on a quiet cul-de-sac with ski access.
    Where is this recreation land located?
    The property is located at 309 White Pine Canyon Road Unit 309 Park City, UT.
    What is the asking price?
    The asking price for this property is $5,495,000.
    What are key features of this property?
    This property features: 22‑lot land offering in the Colony community of Park City; Situated on a quiet cul‑de‑sac within the Colony (Phase V); SARC approved plans by Ezra Lee Design + Build may be included
    (425) 326-0057
    We can help!
    Listing Contact
    Michael Nielson
    Real Estate License ID: 5381680
    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.

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    309 White Pine Canyon Road, Unit 309, Park City, UT 84060
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