Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1940 Loafer Mtn Unit Salem, UT 84653
    Property profile & analytics

    1940 Loafer Mtn Unit, Salem, UT 84653

    View on Map
    • Retail properties & Spaces
    • 1.10 lot acres
    For Sale
    $964,160
    View Listing →
    Prime Salem Retail Lot - I-15 Access For Sale
    $964,160

    Prime Salem Retail Lot - I-15 Access

    High-visibility retail lot near I-15.

    Woodland Hills, UT 84653
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1940 Loafer Mtn Unit

    Lot size
    1.10 lot acres
    Property type
    Retail properties & Spaces

    Description

    This exceptional 1.1-acre commercial lot in Salem, UT, presents a unique investment opportunity. Ideally situated just a short distance from the Benjamin/Salem I-15 freeway on/off ramp, this buildable lot boasts unparalleled accessibility and visibility. Its prime location directly precedes a planned major grocery store anchor, ensuring high traffic volume. The lot features convenient frontage on the main road with a right-hand turn lane, further enhancing its appeal to businesses seeking optimal customer access. Priced competitively at $20 per square foot, this property offers significant value in a rapidly expanding area. Significant lot improvements are underway, adding to its attractiveness. This is one of the last undeveloped exits along the I-15 corridor, positioned at the first full-light intersection east of the freeway. The recently opened Loafer Mountain Parkway provides direct access to Salem City, Woodland Hills, Payson, and Elk Ridge, solidifying this location as a burgeoning commercial center in South Utah County. The property is perfectly suited for a drive-thru business, capitalizing on its high-traffic potential. This is part of a larger 17-acre commercial retail project, representing a first-mover advantage in a high-growth area. The site's strategic location and ongoing development make it an exceptional investment opportunity for businesses seeking a prominent presence in a thriving community. Further details and site visits can be arranged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Utah
    State
    Utah
    Longitude
    -111.687
    Latitude
    40.0618

    Comparable in this City

    • Value Estimation by Request
      2,100 SF

      870 Sr 198

      Retail properties & Spaces
      870 Sr 198, Salem, UT 84653
      View Details
    • Value Estimation by Request
      4,597 SF

      78 State Rd 198

      CONVENIENCE STORE
      78 State Rd 198, Salem, UT 84653-4800
      View Details
    • Value Estimation by Request
      4,597 SF

      84 State Rd 198

      CONVENIENCE STORE
      84 State Rd 198, Salem, UT 84653
      View Details
    • Value Estimation by Request
      4,067 SF

      390 State Rd 198

      DRIVE-THRU RESTAURANT, FAST FOOD
      390 State Rd 198, Salem, UT 84653-6200
      View Details
    • Value Estimation by Request
      6,477 SF

      428 State Rd 198

      SHOPPING CENTER, STRIP CENTER
      428 State Rd 198, Salem, UT 84653-4605
      View Details
    • Value Estimation by Request
      4,597 SF

      Salem, UT 84653

      CONVENIENCE STORE
      Salem, UT 84653
      View Details

    Similar Nearby for Sale

    • $964,160
      1.10 Acres

      Prime Salem Retail Lot - I-15 Access

      High-visibility retail lot near I-15.
      1940 Loafer Mtn Unit, Salem, UT 84653
      View Details
    • Contact for pricing

      Commercial Property with Residential Use

      Commercial zoned property allowing residential use with shop and home.
      555 W 300 S, Salem, UT 84653
      View Details
    • $279,900
      0.35 Acres

      Residential Land in Salem, Utah

      Residential land offering mountain views and community privacy in Salem.
      334 E Selman Ridge Dr, Salem, UT 84653
      View Details
    • $369,900
      0.60 Acres

      Salem Land with Valley Views

      0.60 acre lot with sweeping valley and mountain views.
      1346 S 140 E, Salem, UT 84653
      View Details
    • $380,000
      0.83 Acres

      Salem Land with Valley Views

      Sought-after 0.83-acre lot with unobstructed valley views in Salem, UT.
      1367 S 370 E, Salem, UT 84653
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      11,000 SF

      Available Pharmacy and Retail Space

      Up to 11,000 SF available in fast-growing Utah County.
      555 W State Road, Salem, UT 84653
      View Details
    • $20 SF/Yr

      Existing Pharmacy Space Available

      Second generation pharmacy space available for rent.
      555 W State Road, Salem, UT 84653
      View Details
    • $1.50 SF/Yr

      Retail Site in Salem, UT

      Car wash anchored retail site near new housing development.
      987 N State Road 198, Salem, UT 84653
      View Details
    View Listing
    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.
    1940 Loafer Mtn Unit
    Salem, UT 84653
    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
    1940 Loafer Mtn Unit, Salem, UT, 84653
    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!