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    4161 Thanksgiving Way Lehi, UT 84043

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    For Lease
    Contact for pricing

    Prime Utah County Retail Opportunity

    Lot size:
    8,800 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    This exceptional retail property, located in Utah County, offers 8,800 square feet of commercial space in a Class B building. Currently, there is 1,590 square feet of immediately available space, perfect for a variety of retail businesses seeking a high-visibility location. The property is configured for multiple tenants, providing flexibility for businesses of different sizes. The existing building boasts a total of 8,800 square feet, indicating a strong established presence within the community. The available space presents a unique opportunity to establish or expand a retail operation in a thriving market. The 1,590 square foot vacant unit is ready for immediate occupancy, minimizing downtime and allowing for a swift start to operations. This property is ideally suited for businesses seeking a well-established location with existing infrastructure. Its location within Utah County offers access to a substantial customer base and strong regional economic activity. The property's Class B designation reflects a balance between affordability and functionality, making it an attractive option for businesses seeking a cost-effective yet well-maintained space. The multiple tenancy configuration allows for a diverse range of businesses to coexist, creating a vibrant and dynamic retail environment. This presents a compelling opportunity for businesses looking to establish a strong foothold in a desirable Utah County location. Serious inquiries are encouraged to explore this promising retail space.

    Property Features for 4161 Thanksgiving Way

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    8,800 SF
    Class
    B

    Unit(s) available at that property

    Space
    Suite 204
    Size
    1,590 SF

    We can help!

    Listing Contact
    Bryant Parker
    Bryant Parker

    Learn more

    Property Insight Report

    HighLights

    • 8,800 square foot retail building in Utah County.
    • Multiple tenancy retail space.
    • 1,590 square feet of vacant space available for lease.
    • Class B building.
    Property Profile Location Intelligence

    Current Use by Public Records

    Intermountain Immigration, LLC Law Firm SolPals LLC Corporate Office REMAX Alliance Real ... Real Estate Agency U.S. Bank-Jim Neff-Mortgage ... Mortgage Lender | Beyond Relief Auto ... Chiropractor

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lehi
    County
    Utah
    State
    Utah
    Longitude
    -111.8996053
    Latitude
    40.4388687

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    FAQs

    What type of property is this?
    Retail property - Prime Utah County Retail Opportunity
    Where is this retail property located?
    The property is located at 4161 Thanksgiving Way Lehi, UT.
    What are key features of this property?
    This property features: 8,800 square foot retail building in Utah County.; Multiple tenancy retail space.; 1,590 square feet of vacant space available for lease.
    Request Owner's contact information
    4161 Thanksgiving Way Lehi, UT 84043
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    Lehi, UT 84043
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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
    4161 Thanksgiving Way Lehi, UT 84043
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    We can help!
    Listing Contact
    Bryant Parker
    Bryant Parker
    Real Estate License ID: UT 13058456-SA00
    Learn more
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