5934 S Cougar Ln #5930, Kearns, UT 84118

Building Details

Building Size 9,020 SF More

Year Built 1979 More

Listing Agency: Platinum Place Realty Show Phone

Listed By: Wendy Bradshaw Show Phone

Source: Etzelonline

Added: Sep 8 Changed: Nov 7 Last Checked: Nov 9 at 2:58PM

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Investment Insights

Based on property information with market context.

This 1.44-acre commercial land parcel contains two homes with a combined six condo-style units, 10 bedrooms, and 12 bathrooms. Two two-level outdoor storage structures are also on site. The existing residences are occupied, and the property is zoned residential multifamily.

The parcel’s north boundary borders a city park beside the Utah Olympic Oval. Its south edge includes the corner of W Cougar Lane and Stone Ledge Cove. Conceptual plans for a mixed-use or residential multifamily project have been discussed with municipal planning officials, with preliminary interest noted.

Key Highlights

• 1.44 contiguous acres, or 62,726 total lot square feet
• Residential multifamily zoning
• Two homes with six condo‑style units, 10 bedrooms, and 12 bathrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$111,744

Cap Rate

4.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,234,880 $2.2M

Cap Rate 7%

$1,596,343 $1.6M

Cap Rate 9%

$1,241,600 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 9,020 SF

Gross rent

$214.3K $23.76/SF

− Vacancy

−$11.1K −$1.24/SF

EGI

$203.2K $22.52/SF

− OpEx

−$91.4K −$10.14/SF

NOI

$111.7K $12.39/SF

Area

Salt Lake County, UT

Vacancy

5.20%

Lease Rate

$23.76 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,234,880

Cap Rate 7%

$1,596,343

Cap Rate 9%

$1,241,600

Alternative Uses

Best Use

Apartment 5plus

$1.60M

$1.40M – $1.86M (±1% cap)

NOI $111,744 @ 7.0% cap · market cap 4.47%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.43M

$2.13M – $2.84M (±1% cap)

NOI $170,108 @ 7.0% cap · market cap 6.80%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Spa & Massage Center Hair Salon Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

217

Businesses Nearby

Explore this area Business Placement

Demographics for 84118, UT

41,493

Population

12,230

Households

3.4

Avg Household Size

31

Median Age

13%

College-Educated

80%

High-School Grad

13.0 sq mi

ZIP Area

3,192

Density / Sq Mi

$87,457

Median Household Income

$40,435

Median Earnings

$1,670

Median Rent

$348,500

Median Home Value

Market

Properties on Market for Commercial land in Salt Lake County

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Commercial land - Two occupied homes provide existing residential use on a parcel zoned for multifamily development.

Where is this commercial land located?

The property is located at 5934 S Cougar Ln #5930 Kearns, UT.

What is the asking price?

The asking price for this property is $2,500,000.

What are key features of this property?

This property features: 1.44 contiguous acres, or 62,726 total lot square feet; Residential multifamily zoning; Two homes with six condo‑style units, 10 bedrooms, and 12 bathrooms