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    434 0020 Cove, UT 84333

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    434 0020 Cove, UT 84333

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    • Office properties & Spaces
    • 910 SF
    • 0.03 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 434 0020

    Lot size
    0.03 lot acres
    Property size
    910 SF
    Property type
    Office properties & Spaces
    Property subtype
    Land

    Description

    This exceptional mixed-use commercial property, located at 434 N 0020 W in Smithfield, Utah (zip code 84333), presents a unique investment opportunity. The property boasts a highly visible location directly off Main Street/I-91 HWY, ensuring significant daily exposure to a large volume of traffic. The main floor comprises 910 square feet of commercial space, thoughtfully designed with two dedicated offices, a spacious conference room, and an impressive reception area. This commercial space is complemented by a separate, 990 square foot, two-bedroom, one-bathroom residential apartment, accessible via a private entrance on the west side of the building. This apartment offers additional income potential and flexibility. The 0.03-acre lot provides ample space for the building and offers a strong visual presence, making it ideal for businesses seeking high visibility and brand recognition. The asking price for this remarkable property is $499,900. This combined commercial and residential space offers a savvy investment opportunity to elevate both your business and lifestyle. The property is categorized as Office and Land, with a commercial subtype. This is a rare opportunity to acquire a well-positioned, income-generating property in a thriving Utah community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cove
    County
    Cache
    State
    Utah
    Longitude
    -111.69
    Latitude
    41.903

    Comparable in this City

    • Value Estimation by Request
      10.00 Acres

      150 200

      Lifestyle centers • 435,600 SF
      150 200, Richmond, UT 84333
      View Details
    • Value Estimation by Request
      107.00 Acres

      11800 Hwy

      Farms • 107.00 Acres
      11800 Hwy, Cove, UT 84333
      View Details
    • Value Estimation by Request
      50.18 Acres

      2300 11000

      Land • 50.18 Acres
      2300 11000, Richmond, UT 84333
      View Details
    • Value Estimation by Request
      0.29 Acres

      11 200th W

      VACANT COMMERCIAL LAND • 0.29 Acres
      11 200th W, Richmond, UT 84333-1410
      View Details
    • Value Estimation by Request
      4,474 SF

      Richmond, UT 84333

      OFFICE/RESIDENTIAL (MIXED USE) • 4,474 SF
      Richmond, UT 84333
      View Details
    • Value Estimation by Request
      5,133 SF

      63 300th S

      OFFICE/RESIDENTIAL (MIXED USE) • 5,133 SF
      63 300th S, Richmond, UT 84333-1616
      View Details
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    434 0020
    Cove, UT 84333
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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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