Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    515 200 Parowan, UT 84761
    Back to Search
    Property profile & analytics

    515 200, Parowan, UT 84761

    View on Map
    • Retail properties & Spaces
    • 2,856 SF
    • 0.53 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 515 200

    Year built
    1999
    Lot size
    0.53 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Auto shops

    Description

    This exceptional opportunity presents a thriving, turn-key automotive shop ideally situated in Parowan, Utah. The property, located at 515 W 200 S, boasts 2,856 square feet on a 0.53-acre lot. Built in 1999, the building features three convenient drive-in repair bays, perfect for efficient service operations. In addition to the bays, the property includes a well-appointed office space and a retail area at the front, complete with a restroom for customer convenience. The property's zoning is designated as Commercial Improved/Commercial Unimproved. This high-visibility location on 200 S ensures excellent exposure and accessibility for customers. An attractive feature is the availability of an adjacent lot for purchase at a separate price, offering potential for expansion or additional development. This established business is ready for a new owner to continue its success. Serious inquiries only. Please refrain from disturbing tenants or businesses on the property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Parowan
    County
    Iron
    State
    Utah
    Longitude
    -112.838
    Latitude
    37.8384

    Comparable in this City

    • Value Estimation by Request
      0.23 Acres

      204 Main

      Retail properties & Spaces
      204 Main, Parowan, UT 84761
      View Details
    • Value Estimation by Request
      5,750 SF

      78 Ctr St

      Office Units
      78 Ctr St, Parowan, UT 84761
      View Details
    • Value Estimation by Request
      1,250 SF

      88 Main St

      Restaurants
      88 Main St, Paragonah, UT 84761
      View Details
    • Value Estimation by Request
      0.19 Acres

      Parowan, UT 84761

      COMMERCIAL (GENERAL)
      Parowan, UT 84761
      View Details
    • Value Estimation by Request
      0.23 Acres

      Parowan, UT 84761

      VACANT COMMERCIAL LAND
      Parowan, UT 84761
      View Details
    • Value Estimation by Request
      1.00 Acre

      Parowan, UT 84761

      VACANT COMMERCIAL LAND
      Parowan, UT 84761
      View Details

    Similar Nearby for Sale

    • $749,000
      0.23 Acres

      Parowan Dairy Freeze: Turnkey Business

      Historic Main Street Retail Opportunity
      204 Main, Parowan, UT 84761
      View Details
    • $262,000
      Pending

      Undeveloped Land in Kane Springs

      Land available near Kane Springs Road, Parowan, Utah.
      4951 N Kane Spring Rd, Parowan, UT 84761
      View Details
    • $3,207,200
      641.44 Acres

      Parowan, UT Land Opportunity

      Large land parcel available in Parowan, Utah.
      R10W Slm, Parowan, UT 84761
      View Details
    • $210,000
      21.21 Acres

      Expansive Acreage in Growing Parowan

      21.21 acre parcel for investment or development in Parowan.
      Parowan, UT 84761
      View Details
    • Contact for pricing

      Parowan Dairy Freeze Opportunity

      Iconic Parowan Dairy Freeze business and real estate for sale.
      204 N Main St, Parowan, UT 84761
      View Details

    Similar Nearby for Lease

    • $2,000 /Mo

      Storefront with Multiple Units

      Storefront with main house and additional units for rent.
      82 N Main St, Parowan, UT 84761
      View Details
    • Contact for pricing

      Single Tenant Office Space

      Office space available for single tenant occupancy.
      47 E Center St, Parowan, UT 84761
      View Details
    • $1.25 SF/Yr

      Former Restaurant Space For Lease

      Restaurant space available for lease, includes furniture, fixtures, equipment.
      88 N Main St, Parowan, UT 84761
      View Details
    • $1.00 SF/Yr
      12,000 SF

      Parowan Warehouse Space Available

      12,000 sqft warehouse in Parowan, Utah for lease.
      285 Hwy 271 E, Parowan, UT 84761
      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.
    515 200
    Parowan, UT 84761
    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
    515 200, Parowan, UT, 84761
    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!