Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    6995 Union Park Ave Cottonwood Heights, UT 84047
    Back to Search
    Property profile & analytics

    6995 Union Park Ave Cottonwood Heights, UT 84047

    View on Map
    • Office Spaces
    • 82,010 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 6995 Union Park Ave

    Year built
    1994
    Property size
    82,010 SF
    Property type
    Office Spaces

    Description

    This exceptional Class A office building, located at 6995 Union Park Ave, Cottonwood Heights, UT 84047, offers a variety of spaces to suit your business needs. The four-story, 82,010 square foot building, constructed in 1994, boasts a striking granite and glass exterior and is situated on a 2.75-acre lot. The property features a stunning two-story granite and glass lobby, providing a sophisticated and welcoming entrance. Enjoy breathtaking views of the Salt Lake Valley and the Wasatch Mountains from your office. Currently, there is 19,564 square feet of vacant space available, with minimum divisible units of 1,592 square feet and a maximum contiguous space of 9,083 square feet. The building is zoned RM and offers ample parking with a 4:1000 ratio. This executive and traditional office space is ideal for businesses seeking a prestigious and functional location. The building's convenient location near Fort Union Blvd provides easy access to major transportation routes. The property's multiple tenancy structure allows for flexibility in lease terms and space requirements. This is a rare opportunity to secure prime office space in a highly desirable location. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cottonwood Heights
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.856
    Latitude
    40.6233

    Comparable in this City

    • Value Estimation by Request
      20,864 SF

      613-623 Fort Union Blvd

      Office Spaces • 20,864 SF
      613-623 Fort Union Blvd, Midvale, UT 84047
      View Details
    • Value Estimation by Request

      1100 Ave

      Land
      1100 Ave, Midvale, UT 84047
      View Details
    • Value Estimation by Request
      0.63 Acres

      7708 700

      Office Spaces • 0.63 Acres
      7708 700, Sandy, UT 84047
      View Details
    • Value Estimation by Request

      7044 State St

      Individual retail properties
      7044 State St, Midvale, UT 84047
      View Details
    • Value Estimation by Request
      84,093 SF

      6965 Un Park Ctr - Un Park

      Office Spaces • 84,093 SF
      6965 Un Park Ctr - Un Park, Midvale, UT 84047
      View Details
    • Value Estimation by Request

      7487 Main St

      Restaurants
      7487 Main St, Midvale, UT 84047
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,100 SF

      Office Condo with Flexible Tenancy

      4,100 SF office condo with value-add potential.
      7410-7430 S Creek Rd, Sandy, UT 84047
      View Details
    • Contact for pricing
      7,128 SF

      Union Park Commercial Office Condos

      Six commercial office condos in Union Park, all leased.
      623 Fort Union Blvd, Midvale, UT 84047
      View Details
    • $5,750,000

      Multi-Tenant Investment Property in Midvale

      Multi-tenant investment property with NNN leases in Midvale, Utah.
      7455 Union Park Ave, Midvale, UT 84047
      View Details
    • $525,000
      0.21 Acres

      Midvale Office Conversion Opportunity

      Midvale office conversion with storage, kitchen, and garage.
      266 E Ft Blvd, Midvale, UT 84047
      View Details
    • $900,000
      4,209 SF

      Class A Office Space Available

      4,209 SF office space with high-end finishes for sale.
      7370-7390 S Creek Rd, Sandy, UT 84047
      View Details
    • $550,000
      1,382 SF

      Midvale Duplex with Strong Income

      Turn-key duplex near downtown Midvale with excellent tenants.
      620 W 2Nd Ave, Midvale, UT 84047
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15,213 SF

      Midvale Office and Warehouse Space

      15,213 SF Midvale space with office and warehouse components.
      6949 S High Tech Dr, Midvale, UT 84047
      View Details
    • Contact for pricing
      6,196 SF

      Midvale Office Space for Rent

      Class A office space with furniture available for rent.
      6967 S River Gate Dr, Midvale, UT 84047
      View Details
    • $26 SF/Yr
      8,258 SF

      Class A Office Space Available

      Executive and traditional office spaces with valley and mountain views.
      6925 S Union Park Ctr, Midvale, UT 84047
      View Details
    • $26 SF/Yr
      45,641 SF

      Midvale Office Building For Rent

      90,000 SF office building with eco-friendly features.
      7158 Fl Smidth Dr, Midvale, UT 84047
      View Details
    • Contact for pricing
      1,376 SF

      Class A Office Space Available

      Executive suites and traditional office space with mountain views.
      6995 S Union Park Ctr, Midvale, UT 84047
      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.
    6995 Union Park Ave
    Cottonwood Heights, UT 84047
    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
    6995 Union Park Ave, Cottonwood Heights, UT, 84047
    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!