Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2240 Murray Holladay Rd Holladay, UT 84124
    Back to Search
    Property profile & analytics

    2240 Murray Holladay Rd Holladay, UT 84124

    View on Map
    • Specialty properties
    • 12,000 SF
    • 0.92 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 2240 Murray Holladay Rd

    Lot size
    0.92 lot acres
    Property size
    12,000 SF
    Property type
    Specialty properties
    Property subtype
    Retail properties & Spaces

    Description

    The Apollo, located at 2240 E Murray Holladay Rd, Salt Lake City, UT 84124, offers 12,000 square feet of retail space in a prime Holladay location. This C2 zoned property sits on a 0.92-acre lot (APN 22-10-128-002-0000) and is currently fully vacant, presenting a unique opportunity for multiple tenants. The building is suitable for various uses, including medical, dental, office, and retail, with a minimum divisible space of 1,200 square feet and larger spaces available up to 7,019 square feet. The property boasts excellent traffic counts and visibility, situated near the intersection of 2200 East and Murray Holladay Road. This location benefits from its position within the heart of the Holladay trade area and is anchored by a 27-unit high-end townhome project, ensuring a strong residential base. The property is available for occupancy. This is an exceptional opportunity to establish a presence in a thriving Holladay commercial corridor. Interested parties should inquire for further details and leasing options.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Holladay
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.826
    Latitude
    40.6674

    Comparable in this City

    • Value Estimation by Request
      3,902 SF

      4291 900th E

      RESTAURANT • 3,902 SF
      4291 900th E, Salt Lake City, UT 84124-2401
      View Details
    • Value Estimation by Request
      3,162 SF

      5802 Ml Crk Cyn Rd

      RESTAURANT • 3,162 SF
      5802 Ml Crk Cyn Rd, Salt Lake City, UT 84124
      View Details
    • Value Estimation by Request
      4,504 SF

      1567 3900th S

      RESTAURANT • 4,504 SF
      1567 3900th S, Salt Lake City, UT 84124-1501
      View Details
    • Value Estimation by Request
      1,161 SF

      3906 900th E

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,161 SF
      3906 900th E, Salt Lake City, UT 84124-1102
      View Details
    • Value Estimation
      $1,995,000
      42,204 SF

      3918 Highland Dr

      RESTAURANT • 42,204 SF
      3918 Highland Dr, Salt Lake City, UT 84124-1615
      View Details
    • Value Estimation
      $535,000
      8,586 SF

      1109 3900th S

      RESTAURANT • 8,586 SF
      1109 3900th S, Salt Lake City, UT 84124-1201
      View Details

    Similar Nearby for Sale

    • $240,500

      Land for Sale

      Land available in Salt Lake City, Utah.
      1648 E 4150 S, Salt Lake City, UT 84124
      View Details
    • $800,000
      0.35 Acres

      1565 3900, Millcreek, UT 84124

      Office properties & Spaces • 0.35 Acres
      1565 3900, Millcreek, UT 84124
      View Details
    • $2,350,000
      18.66 Acres

      Olympus Cove Estate Opportunity

      18.66-acre gated estate in Salt Lake City, Utah.
      4695 S Thousand Oaks Dr, Salt Lake City, UT 84124
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,160 SF

      Retail Space in Established Center

      Retail and creative office space in Salt Lake City, UT.
      3939-3983 S Wasatch Blvd, Salt Lake City, UT 84124
      View Details
    • $2,250 /Mo

      Holladay Retail Space For Lease

      Retail space in Holladay with high visibility and on-site parking.
      6065 S Highland Dr, Holladay, UT 84124
      View Details
    • Contact for pricing

      Accessible Flex Space with Yard

      Flex space with roll-up doors and secure fenced yard.
      4370 S Highland Dr, Salt Lake City, UT 84124
      View Details
    • Contact for pricing

      Office Space Available For Lease

      Office space available for lease in Salt Lake City, Utah.
      4525 S Wasatch Blvd, Salt Lake City, UT 84124
      View Details
    • Contact for pricing
      56,192 SF

      Millcreek Office Space Available

      Office space for rent in Millcreek, Utah.
      4252 S Highland Dr, Millcreek, UT 84124
      View Details
    • Contact for pricing
      4,434 SF

      Salt Lake City Flex Unit

      Flex unit available for lease in Salt Lake City.
      1868 W 1040 S, Salt Lake City, UT 84124
      View Details
    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.
    2240 Murray Holladay Rd
    Holladay, UT 84124
    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
    2240 Murray Holladay Rd, Holladay, UT, 84124
    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!