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    1465 700 Salt Lake City, UT 84104

    Sponsored
    For Lease
    $10 SF/Yr ($17,136 /Mo)

    Salt Lake City warehouse, flexible space available

    Lot size:
    20,160 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This Salt Lake City industrial property, located at 1465 S 700 W, offers 20,160 square feet of versatile space, ideal for warehouse, distribution, manufacturing, flex, or R&D uses. The property features two suites, with minimum divisible space of 8,160 square feet and a maximum contiguous space of 20,160 square feet. Suite 1465 comprises 12,000 square feet, including 1,750 square feet of office space and 10,250 square feet of warehouse space, with two 10'x10' dock high doors and ramp access. Suite 1473 offers 8,160 square feet, featuring 2,000 square feet of office space and 6,160 square feet of warehouse space, also equipped with two 10'x10' dock high doors and ramp access. Both suites boast an 18-foot ceiling height. The entire building, constructed in 1975, sits on a one-acre lot and includes 28 total parking spaces, one drive-in door, and 3-phase power (240 volt/200 amp). The property's Class C designation and convenient location, offering immediate access to I-15 and proximity to downtown (5 minutes away), make it an attractive option for various businesses. The building's floor area ratio (FAR) is 0.64. APN is 15-13-101-010-0000.

    Property Features for 1465 700

    General Information

    Property type
    Life science properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    20,160 SF
    Class
    C
    Total Rate
    17136

    Building Details

    Year Built
    1975
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    1465
    Size
    12,000 SF
    Rate per SF
    $12
    Space
    1473
    Size
    8,160 SF
    Rate per SF
    $12

    HighLights

    • 20,160 SF industrial building in Salt Lake City, ideal for warehouse, distribution, manufacturing, flex, or R&D.
    • Two suites available: 12,000 SF & 8,160 SF, divisible to 8,160 SF minimum.
    • Each suite includes office and warehouse space, 18' ceilings, two 10'x10' dock‑high doors, and ramp access.
    • One‑acre lot with 28 parking spaces, one drive‑in door, and 3‑phase power (240V/200A).
    • Class C building, located 5 minutes from downtown with I‑15 access.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bricks Corner Pizza Restaurant groen aeronautics Transportation Service Liberty Park Emporium Art Museum Pit Viper Sunglasses Store

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Spa & Massage Building Supply Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.9107564
    Latitude
    40.7376191

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    FAQs

    What type of property is this?
    Life science property - Salt Lake City warehouse, flexible space available
    Where is this life science property located?
    The property is located at 1465 700 Salt Lake City, UT.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: 20,160 SF industrial building in Salt Lake City, ideal for warehouse, distribution, manufacturing, flex, or R&D.; Two suites available: 12,000 SF & 8,160 SF, divisible to 8,160 SF minimum.; Each suite includes office and warehouse space, 18' ceilings, two 10'x10' dock-high doors, and ramp access.
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    1465 700 Salt Lake City, UT 84104
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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
    1465 700 Salt Lake City, UT 84104
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