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    2642 4700 Salt Lake City, UT 84129

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    2642 4700 Salt Lake City, UT 84129

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    • Strip malls
    • 85,809 SF
    • 9.43 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 2642 4700

    Lot size
    9.43 lot acres
    Property size
    85,809 SF
    Property type
    Strip malls
    Property subtype
    Retail properties & Spaces

    Description

    Westwood Shopping Center, located at 2642 W 4700 S in Salt Lake City, UT 84129, offers exceptional retail opportunities. This established strip mall boasts a total of 85,809 square feet on a 9.43-acre lot, providing ample space for businesses of various sizes. The property features 369 parking spaces for customer convenience. Currently, two prime retail spaces are available for lease. One unit offers 1,200 square feet, while the other provides 1,600 square feet. Both spaces are priced at $22 per square foot, triple net (NNN). For businesses requiring more extensive space, a separate free-standing building with a drive-thru is also available, offering 4,000 square feet at a rate of $30 per square foot, NNN. This exceptional location offers easy access to Interstate 215, ensuring high visibility and convenient access for customers. The property's strategic placement and ample parking make it an ideal location for businesses seeking strong foot traffic and convenient accessibility. Don't miss this opportunity to secure your space in this thriving Salt Lake City retail center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.957
    Latitude
    40.669

    Comparable in this City

    • Value Estimation
      $910,000
      21,659 SF

      3135 5400th S

      SHOPPING CENTER, STRIP CENTER • 21,659 SF
      3135 5400th S, Taylorsville, UT 84129-2271
      View Details
    • Value Estimation
      $1,060,000
      22,550 SF

      1848 5400th S

      SHOPPING CENTER, STRIP CENTER • 22,550 SF
      1848 5400th S, Taylorsville, UT 84129-1458
      View Details
    • Value Estimation by Request
      6,272 SF

      2961 4700th S

      SHOPPING CENTER, STRIP CENTER • 6,272 SF
      2961 4700th S, Taylorsville, UT 84129-2553
      View Details
    • Value Estimation
      $515,000
      12,980 SF

      2220 5400th S

      SHOPPING CENTER, STRIP CENTER • 12,980 SF
      2220 5400th S, Taylorsville, UT 84129-1744
      View Details
    • Value Estimation
      $565,000
      13,760 SF

      5486 1900th W

      SHOPPING CENTER, STRIP CENTER • 13,760 SF
      5486 1900th W, Taylorsville, UT 84129-9021
      View Details
    • Value Estimation by Request
      8,927 SF

      3612 4700th S

      SHOPPING CENTER, STRIP CENTER • 8,927 SF
      3612 4700th S, Taylorsville, UT 84129-3423
      View Details

    Similar Nearby for Sale

    • $1,175,000

      West Valley City Investment Property

      3,472 SF lube and oil service center for sale.
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    • Contact for pricing

      Land For Sale or Lease

      0.37 acres of raw land with high visibility.
      6186 W Prairie View Dr, Salt Lake City, UT 84129
      View Details
    • Contact for pricing
      2,988 SF

      3840 W 5400 S, Salt Lake City, UT 84129

      Flex space • 2,988 SF
      3840 W 5400 S, Salt Lake City, UT 84129
      View Details
    • Contact for pricing

      Commercial Land Parcel in Taylorsville

      Flat commercial land parcel with drive approach and curb cut.
      5492 S 3200 W, Taylorsville, UT 84129
      View Details
    • $495,000
      2,044 SF

      Taylorsville Duplex with New Flooring

      Duplex with new flooring, ideal for house hacking.
      2332 W 6200 S, Taylorsville, UT 84129
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    Similar Nearby for Lease

    • Contact for pricing
      11,606 SF

      Retail Space Near College Campus

      Retail space available near Salt Lake Community College campus.
      1757-1935 W 4700 S, Salt Lake City, UT 84129
      View Details
    • Contact for pricing
      1,996 SF

      Office Space in Central Valley

      Sublease office space available through November 30, 2028.
      2964 W 4700 S, Salt Lake City, UT 84129
      View Details
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    Salt Lake City, UT 84129
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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
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