Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    251 Ut-112 Grantsville, UT 84029

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    251 Ut-112 Grantsville, UT 84029

    View on Map
    • Office properties & Spaces
    • 0.50 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 251 Ut-112

    Year built
    1985
    Lot size
    0.50 lot acres
    Property type
    Office properties & Spaces

    Description

    Willow Plaza Development offers a unique investment opportunity in Grantsville, Utah. This three-story Class C office building, constructed in 1985, boasts a Net Operating Income (NOI) of $84,619. The property sits on a sizable lot ranging from 0.5 to 12.51 acres and provides ample parking (31,000 spaces per 1,000 sq ft). Currently, there are flexible lease options available, ranging from 1,500 to 50,670 square feet of space. Lease rates vary depending on the unit type: inline spaces are $26 per square foot (NNN), end units are $30 per square foot (NNN), drive-thru spaces are $34 per square foot (NNN), and midbox/big box spaces are $16 per square foot (NNN). Additionally, the land itself is available for purchase at $15 per square foot. The property is strategically located at 251 UT-112, Grantsville, UT 84029, surrounded by millions of square feet of industrial development. A retail/office grey shell delivery is anticipated in the third quarter of 2024. This presents a compelling opportunity for businesses seeking executive office space or investors looking for a strong return in a rapidly developing area. The property's size and location make it ideal for a variety of uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Grantsville
    County
    Tooele
    State
    Utah
    Longitude
    -112.425
    Latitude
    40.5941

    Comparable in this City

    • Value Estimation by Request
      20,333 SF

      163 South St

      Medical Office Space • 20,333 SF
      163 South St, Grantsville, UT 84029
      View Details
    • Value Estimation by Request
      0.21 Acres

      74 Main St Rear

      VACANT COMMERCIAL LAND • 0.21 Acres
      74 Main St Rear, Grantsville, UT 84029-9600
      View Details
    • Value Estimation by Request
      620 SF

      10 Aragonite N Rd

      INDUSTRIAL (GENERAL) • 620 SF
      10 Aragonite N Rd, Grantsville, UT 84029-4529
      View Details
    • Value Estimation by Request
      209 SF

      965 Sr 138

      COMMERCIAL (GENERAL) • 209 SF
      965 Sr 138, Grantsville, UT 84029
      View Details
    • Value Estimation by Request
      0.61 Acres

      53 Hale St

      Retail properties & Spaces • 0.61 Acres
      53 Hale St, Grantsville, UT 84029
      View Details
    • Value Estimation by Request
      2.65 Acres

      345 Hale St

      Commercial real estate • 2.65 Acres
      345 Hale St, Grantsville, UT 84029
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land and Retail/Office Space

      Land for sale and retail/office space for lease.
      251 Ut-112, Grantsville, UT 84029
      View Details
    • Contact for pricing
      35.06 Acres

      Grantsville 35-Acre Residential Lot

      Prime Utah land, high-density potential.
      0 Main St, Grantsville, UT 84029
      View Details
    • $46,500
      0.03 Acres

      Grantsville Corner Lot For Sale

      Corner lot in Grantsville, utilities in street, seller financing available.
      600 W Clark St N, Grantsville, UT 84029
      View Details
    • $1,100,000
      6.87 Acres

      Grantsville Land Subdivision Opportunity

      Shovel-ready subdivision with single-family and twin home lots near Salt Lake.
      160 N Booth St E, Grantsville, UT 84029
      View Details
    • $194,900
      0.31 Acres

      Grantsville Multiuse Development Opportunity

      Versatile lot near Main Street, ideal for mixed-use development.
      196 W Main St, Grantsville, UT 84029
      View Details
    • $300,000

      Commercial Land Available

      Commercial land for sale in Grantsville, Utah.
      30 Commercial Ave, Grantsville, UT 84029
      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.
    251 Ut-112
    Grantsville, UT 84029
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!