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    228 Vine St Murray, UT 84107

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    For Lease
    Contact for pricing

    Prime Murray retail, multiple spaces available.

    Lot size:
    14,032 SF

    Property Features for 228 Vine St

    General Information

    Property type
    Shopping malls
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    14,032 SF
    Total Rate
    25725.33

    Building Details

    Year Built
    2020

    Spaces For Lease

    at 228 Vine St, Murray, UT 84107 Contact us
    Unit Available Space 4

    $22 /Mo

    Size
    2,091 SF
    Contact us
    Unit Available Space 5

    $22 /Mo

    Size
    2,261 SF
    Contact us
    Unit Available Space 6

    $22 /Mo

    Size
    2,256 SF
    Contact us
    Unit Available Space 7

    $22 /Mo

    Size
    2,063 SF
    Contact us

    We can help!

    Listing Contact
    Peggy Garcia
    Peggy Garcia

    Listing Agency: Colliers | Salt Lake City Millrock Listing Agent: Peggy Garcia

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Murray Crossing, located at 228 W Vine St in Murray, Utah, presents a fantastic opportunity for retail businesses seeking space in a vibrant Salt Lake County location. This anchorless strip center, built in 2020, boasts a total of 14,032 square feet, with 8,671 square feet currently available for lease. The property sits on a sizable 1.88-acre lot, providing ample parking and visibility. Multiple spaces are available, ranging from a minimum of 2,063 square feet to a maximum contiguous space of 2,261 square feet, offering flexibility for various retail concepts. The property's 2020 construction ensures modern amenities and efficient layouts. Its location in Murray, Utah, zip code 84107, provides excellent access to a strong customer base and convenient transportation links. This is an ideal opportunity for businesses seeking high-traffic exposure in a thriving retail environment. The property's size and layout make it suitable for a variety of retail uses. Interested parties are encouraged to inquire about lease terms and availability. The property is classified as a Retail, Anchorless Strip Center with multiple tenancies.
    Property Profile Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Daycare Center Gym & Fitness Center Building Supply

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

    Location Insight

    • Map
    • Local Demand
    City
    Murray
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.898346
    Latitude
    40.661422

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    FAQs

    What type of property is this?
    Shopping mall - Prime Murray retail, multiple spaces available.
    Where is this shopping mall located?
    The property is located at 228 Vine St Murray, UT.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: 2020-built, 14,032 SF anchorless strip center in Murray, UT.; 8,671 SF available for lease.; Multiple suites available, ranging from 2,063 SF to a maximum contiguous 2,261 SF.
    (801) 947-8354 Call to check price and availability
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    228 Vine St Murray, UT 84107
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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
    228 Vine St Murray, UT 84107
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Peggy Garcia
    Peggy Garcia
    Real Estate License ID: 5452864-SA00
    (801) 947-8354 (801) 573-7157 (801) 947-8300
    Learn more
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