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    Mountain View Home Building Site Title is generated by Realmo AI

    3421 E Red Knob Way lot 824, Heber City, UT 84032

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    For Sale
    $1,849,000

    LAND - Heber City, UT

    Lot size:
    1.79 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 4 at 9:06 am

    Property Features for 3421 E Red Knob Way lot 824

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    00-0021-8394
    Lot size
    1.79 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Lot 824 Red Ledgles Phase 4A. Area: 1.79 Acres
    Tax Annual Amount
    16000

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Eric Gingras

    Listing agent Eric Gingras

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

    Listing date Jun 3, 2026

    MLS# 12602383 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

    • 1.79‑acre homesite at the top of Red Ledges with gently sloping terrain
    • 10,000 sq ft designated building pad to help optimize the views and outdoor living space
    • Unobstructed panoramic views of Mount Timpanogos and the valley floor
    • Public water and public sewer available; cable available
    • Full Red Ledges Golf Membership available with the property
    • Red Ledges amenities include private clubhouse, fitness room, resort pool, hot tub, and tennis courts

    Overview

    This property is residential land offered for sale, comprising 1.79 acres in an elevated mountain setting at the top of Red Ledges. The terrain is described as gently sloping, supporting easier building and providing a straightforward canvas for a custom design. A 10,000-square-foot building pad is designated to help optimize views and support planned outdoor living space.

    The homesite is positioned at the highest point of Red Ledges and is presented as having unobstructed panoramic vistas, including views of Mount Timpanogos and the sweeping valley floor. Access is described as year-round gated security, along with immediate access to an adjoining trail network. The address is 3421 E Red Knob Way, lot 824, in Heber City, Utah 84032.

    For buyers seeking a larger mountain parcel to build a custom estate, the combination of the designated building pad and sloping topography can simplify site planning while preserving the property’s elevated perspective. The listing also notes a full Red Ledges Golf Membership may be available with the purchase, along with access to amenities including a private clubhouse, fitness room, resort pool, hot tub, and tennis courts.
    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
    -111.360291
    Latitude
    40.521817

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    FAQs

    What type of property is this?
    Residential land & home lot - A 1.79-acre homesite with a designated building pad for an elevated custom home with expansive mountain views.
    Where is this residential land & home lot located?
    The property is located at 3421 E Red Knob Way lot 824 Heber City, UT.
    What is the asking price?
    The asking price for this property is $1,849,000.
    What are key features of this property?
    This property features: 1.79‑acre homesite at the top of Red Ledges with gently sloping terrain; 10,000 sq ft designated building pad to help optimize the views and outdoor living space; Unobstructed panoramic views of Mount Timpanogos and the valley floor
    (435) 777-3161
    We can help!
    Listing Contact
    Eric Gingras
    Request Owner's contact information
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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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