Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    12 Wood Ave Salt Lake City, UT 84115

    Sponsored
    For Sale
    $600,000

    Prime .17 acre lot, ideal for multifamily or retail.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional 0.174-acre commercial land parcel presents a unique development opportunity in Salt Lake City, Utah. Located at 12 Wood Ave, 84115, this rectangular lot boasts approximately 54 feet of frontage by 140 feet in depth, offering excellent visibility and accessibility. The property's desirable "soft corner" location provides significant advantages for development, with Main Street frontage ensuring high traffic exposure. Its proximity to I-15 freeway ensures convenient access for commuters and customers. The lot is zoned CC, allowing for a variety of uses, including multifamily and retail developments, making it an attractive investment for developers seeking a prime location in a thriving urban area. A survey is readily available for review. The asking price for this exceptional property is $600,000. The APN is 16-18-156-001. This Salt Lake County property is ready for your vision. Don't miss this chance to acquire a highly sought-after location in a rapidly growing market.

    Property Features for 12 Wood Ave

    General Information

    Property type
    Multifamily properties
    Lot Size
    7,579 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    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
    -111.8905827313
    Latitude
    40.735142087453

    Nearby Similar for Sale

    • $8,500,000
      26,364 SF

      Salt Lake City Multifamily Investment

      Fully leased student housing near the University of Utah.
      125 S 1300 E, Salt Lake City, UT 84102
      View Details
    • $3,300,000
      0.72 Acres

      Salt Lake City Office Building

      14,614 sq. ft. office building in evolving Ballpark neighborhood.
      1380 S Main St, Salt Lake City, UT 84115
      View Details
    • $749,900
      2,730 SF

      Charming Duplex in Sugarhouse Location

      Inviting duplex with bonus unit in desirable Sugarhouse location.
      1888 S 800 E, Salt Lake City, UT 84105
      View Details
    • $1,200,000
      2,422 SF

      Remodeled 4-Plex in Salt Lake

      Downtown Salt Lake City 4-plex near amenities and transportation.
      563 S Denver St, Salt Lake City, UT 84111
      View Details
    • New
      $1,200,000
      3,750 SF

      Turnkey Fourplex in Prime Location

      Legal fourplex in the Avenues, Salt Lake City, with cash flow.
      116 N B St E, Salt Lake City, UT 84103
      View Details
    • $2,499,000
      0.50 Acres

      Commercial Property with Secure Yard

      9000 SF commercial building with showroom, shop, and warehouse.
      1621 N Beck St, Salt Lake City, UT 84116
      View Details
    • $2,745,000
      0.34 Acres

      Salt Lake City Commercial Opportunity

      Two-building commercial property with flex space, office, and retail.
      346 E 3300 S, Salt Lake City, UT 84115
      View Details
    • $739,000
      2,369 SF

      Salt Lake City Duplex

      Legal duplex near parks, schools, and transit in Salt Lake.
      714 S 600 E, Salt Lake City, UT 84102
      View Details
    • $734,999
      2,597 SF

      Remodeled Duplex in Sugar House

      Updated duplex in Salt Lake City's desirable Sugar House neighborhood.
      1145 Kensington Ave, Salt Lake City, UT 84105
      View Details
    • $535,000
      2,100 SF

      Salt Lake City Duplex

      Updated duplex with fenced yard in Salt Lake City.
      250 E 2100 S, Salt Lake City, UT 84115
      View Details
    • $595,000
      1,800 SF

      Millcreek Duplex: Investment Opportunity

      Well-maintained Millcreek duplex with strong rental potential.
      815 E Whitemaple Way, Salt Lake City, UT 84106
      View Details
    • $3,610,000
      9,800 SF

      New Millcreek Rental Townhomes

      Seven new townhomes in Millcreek with premium interior finishes.
      884 E Rowley Dr, Salt Lake City, UT 84124
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Prime .17 acre lot, ideal for multifamily or retail.
    Where is this multifamily property located?
    The property is located at 12 Wood Ave Salt Lake City, UT.
    What is the asking price?
    The asking price for this property is $600,000.
    (801) 573-8500
    Request Owner's contact information
    12 Wood Ave Salt Lake City, UT 84115
    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.
    12 Wood Ave
    Salt Lake City, UT 84115
    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
    12 Wood Ave Salt Lake City, UT 84115
    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
    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.