Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Tooele Retail Plaza on Main Title is generated by Realmo AI

    227-245 N Main St, Tooele, UT 84074

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail plaza with high visibility and ample parking available for lease.

    Type:Retail
    Property size:
    4,155 SF
    Added:
    Apr 6, 2023
    Days on Market:
    1152
    Last Refresh:
    May 12 at 9:46 pm

    Property Features for 227-245 N Main St

    General Information

    Standard status
    Active
    Size
    4,155 SF
    Property subtype
    Retail

    Spaces For Lease

    at 227-245 N Main St Contact us

    Pad A $38/Mo

    Size
    1,000 SF
    Type
    Retail
    Pad A is a 4,155 SF building that can be demised into 3 smaller units. Those 3 units...
    show more
    Contact us

    We can help!

    Listing Contact
    Elliot Abel

    Listing agent Elliot Abel License #UT 94166337-SA00

    Listing office Investment Realty Advisors

    Listing date Apr 6, 2023

    Source Crexi

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

    All listing content including descriptions, pricing, images are the copyrighted material of Investment Realty Advisors

    HighLights

    • High visibility on Main Street with 37,500 average daily traffic
    • Ample parking with 126 stalls
    • Located in Tooele's business and retail area
    • Pad A: 4,155 SF building divisible into three units (approx. 1,385 SF each)
    • Pad A: One unit includes a drive‑through
    • Pad B: 1,000 SF double‑sided drive‑through (ideal for coffee shop)

    Overview

    This Tooele Retail Plaza is a strip center situated in Tooele's business and retail area, offering visibility on Main Street, which experiences an average daily traffic of 37,500 vehicles. The property has 126 parking stalls. The development includes a total of 4 retail units. Pad A is a 4,155 square feet building that can be divided into 3 smaller units, each approximately 1,385 square feet; one of these units includes a drive-through. Pad B is approximately 1,000 square feet with a double-sided drive-through, suitable for a coffee shop. Lease terms range from 5 to 10 years minimum.
    Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Tooele
    County
    Tooele
    State
    Utah
    Longitude
    -112.353
    Latitude
    40.5393

    Nearby Similar for Lease

    • $1,600/Mo
      837 SF

      New Construction Flex Space Available

      837 SF flex space with mezzanine and 20' clearance.
      1220 Flinders St, Tooele, UT
      View Details
    • Contact for pricing
      2,550 SF

      Tooele Retail Plaza For Lease

      Retail plaza with drive-through options in Tooele, Utah.
      227 N MAIN St, Tooele, UT 84074
      View Details
    • $11 SF/Yr
      3,900 SF

      Tooele Retail Space Available

      Retail plaza with ample parking and high visibility on Main.
      205-235 N Main St, Tooele, UT
      View Details
    • $17 SF/Yr
      8,000 SF

      Tooele Retail Space Available

      8,000 SF retail space for lease in Tooele, Utah.
      102 W 1180 N St, Tooele, UT
      View Details
    • Contact for pricing
      7,000 SF

      Retail Space with Drive-Thru Potential

      Retail spaces available, including end-cap and drive-thru options.
      964-986 N Main St, Tooele, UT
      View Details
    • Contact for pricing
      3,706 SF

      Retail Space Near Smith's Marketplace

      Retail spaces available near Smith’s Marketplace with drive-thru opportunities.
      322 E 2400 N, Tooele, UT
      View Details
    • $10 SF/Yr

      Mixed-Use Property For Rent

      Mixed-use property available for rent.
      36 North Main Street, Tooele, UT 84074
      View Details
    • Contact for pricing
      6,995 SF

      Retail Space Near Smith's Marketplace

      Retail spaces available near Smith's Marketplace, Tooele, Utah.
      222 E 2400 N, Tooele, UT
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space in Tooele Corridor

      Retail spaces available in Tooele, Summer/Fall 2025 opening.
      1000 N Main St, Tooele, UT
      View Details
    • Contact for pricing
      45,000 SF

      Industrial Warehouse Space Available

      45,000 SF warehouse space with rail access.
      55 Lodestone Way, Tooele, UT
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space Near Smith's Marketplace

      Retail spaces available near Smith’s Marketplace with drive-thru opportunities.
      2326 N 400 E, Tooele, UT
      View Details
    • Contact for pricing
      1,568 SF

      Retail Space Near Smith's Marketplace

      Retail spaces available near Smith's Marketplace with drive-thru opportunities.
      2450 UT-36, Tooele, UT
      View Details

    FAQs

    What type of property is this?
    Strip mall - Retail plaza with high visibility and ample parking available for lease.
    Where is this strip mall located?
    The property is located at 227-245 N Main St Tooele, UT.
    What is the lease rate?
    The lease rate is $38 SF/Yr.
    What are key features of this property?
    This property features: High visibility on Main Street with 37,500 average daily traffic; Ample parking with 126 stalls; Located in Tooele's business and retail area
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Elliot Abel
    Real Estate License ID: UT 94166337-SA00
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    227-245 N Main St, Tooele, UT 84074
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!