Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2297 State St Santaquin, UT 84651

    Sponsored
    For Sale
    $3,931,000

    7.52 Acres, $3.9M Asking

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    409
    This exceptional 7.52-acre commercial land parcel presents a remarkable investment opportunity in Payson, Utah. Located at 2297 W State St, 84651, this property boasts convenient access to essential utilities, including electricity, sewer, water, gas, and phone/cable connections. The site also benefits from existing infrastructure such as paved streets, sidewalks, gutters, and storm drains, minimizing development costs and expediting the construction process. The land is priced at $3,931,000, translating to a land value of $12 per square foot. This represents a compelling value proposition for developers seeking a strategically located site in a growing Utah County South community. The property's expansive size offers significant flexibility for a wide range of commercial developments, catering to various business needs and scales. Its location in Payson provides access to a thriving local market and a strong regional economy. Detailed site plans and surveys are available upon request. This is an exceptional opportunity to acquire a substantial commercial land parcel in a desirable location with readily available utilities and infrastructure. Don't miss this chance to secure a prime piece of Utah real estate.

    Property Features for 2297 State St

    General Information

    Property type
    Land
    Lot Size
    327,571 SF

    We can help!

    Listing Contact
    Ross McClintock
    Ross McClintock

    Learn more

    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Spa & Massage Hair Salon Auto Repair Shop Pharmacy Wholesale Shop Skin Care Clinic Department Store Daycare Center HVAC Service Cosmetics Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Santaquin
    County
    Utah South
    State
    Utah
    Longitude
    -111.70876
    Latitude
    40.045746

    Nearby Comparable

    • $399,900
      0.34 Acres

      Payson Commercial Land with Flexibility

      Commercially zoned land in Payson with residential or commercial potential.
      443 E 100 N, Payson, UT 84651
      View Details
    • $2,200,000
      5.10 Acres

      Payson Land Near I-15

      5.1 acres of industrial and agricultural land near I-15.
      600 W 900 N, Payson, UT 84651
      View Details
    • $2,200,000
      5.00 Acres

      Payson Industrial/Agricultural Land Available

      5-acre industrial/agricultural land near I-15 in Payson, Utah.
      500 W 900 N, Payson, UT 84651
      View Details
    • $1,195,000
      1.77 Acres

      Payson Office Building - 1.77 Acres

      Prime Payson Office Land, Investment Opportunity
      225 400, Payson, UT 84651
      View Details
    • $450,000
      1,647 SF

      Professional Office Building For Sale

      Stand-alone office building with dental practice finishes and ample parking.
      110 W 100 S, Payson, UT 84651
      View Details
    • $549,900
      0.91 Acres

      Commercial Land in Payson, UT

      Prime commercial corner lot in Payson, Utah.
      450 S 100 W, Payson, UT 84651
      View Details
    • Contact for pricing

      Payson Commercial Land Opportunity

      Prime Payson location, near schools & amenities.
      100 600, Payson, UT 84651
      View Details
    • $1,588,000
      0.52 Acres

      Salem Commercial Property w/ Residence

      Live & Work: Updated Home & Shop on .52 Acres
      555 300, Salem, UT 84653
      View Details
    • $970,000
      4,432 SF

      Payson Fourplex: Investment Opportunity

      Four-unit apartment building, fully occupied, in a growing area.
      384 W 650 N, Payson, UT 84651
      View Details

    Nearby Similar for Sale

    • $475,000
      0.12 Acres

      Santaquin Commercial Property on Main

      Commercial property with Main Street frontage in growing Santaquin, Utah.
      33 W Main St, Santaquin, UT 84655
      View Details
    • $314,900

      New Santaquin Home with Garage

      Three-bedroom home with modern finishes and attached two-car garage.
      245 N Polly Ln, Santaquin, UT 84655
      View Details
    • $449,000

      Spacious Santaquin Home with Apartment

      Santaquin home with remodeled basement apartment, rental income potential.
      692 E 180 N, Santaquin, UT 84655
      View Details

    FAQs

    What type of property is this?
    Land - 7.52 Acres, $3.9M Asking
    Where is this land located?
    The property is located at 2297 State St Santaquin, UT.
    What is the asking price?
    The asking price for this property is $3,931,000.
    (801) 666-4275
    Request Owner's contact information
    2297 State St Santaquin, UT 84651
    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.
    2297 State St
    Santaquin, UT 84651
    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
    2297 State St Santaquin, UT 84651
    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

    We can help!
    Listing Contact
    Ross McClintock
    Ross McClintock
    Real Estate License ID: UT 8347685-SA00
    (801) 666-4275
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.