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    Property profile & analytics

    2880 Main St South Salt Lake, UT 84115

    • Investment properties
    • 19,228 SF
    • 0.64 lot acres
    For Lease
    View listing
    $14 SF/Yr
    Last Sale
    Jan 27, 2022
    Value Estimations
    $785,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0411455
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Able Driving School / Driving School
    • City Cab / Taxi Service / Airport Shuttle Service
    • HWP Inc / Wholesaler / Distribution Service
    • Home Helpers Home Care of Salt Lake City / Home Health Care Service / Home Help Service Agency
    • Advantage Home Medical / Medical Equipment Supplier

    Property Details for 2880 Main St

    Year built
    1969
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.64 lot acres
    Property size
    19,228 SF
    Zone code
    BUS B
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    15-25-230-021
    APU
    1525230021

    Description

    This exceptional office property, located at 2880 South Main Street in Salt Lake County, offers a variety of flexible spaces ideal for businesses of all sizes. The building totals 9,000 square feet and is classified as Class B. Multiple tenancy options are available, with spaces ranging from a minimum of 425 square feet to a maximum contiguous space of 1,050 square feet. Currently, three suites are available for lease: Suite 105 (600 square feet), Suite 210 (425 square feet), and Suite 212 (425 square feet). A larger suite, Suite 220, offering 1,050 square feet, is also available. Please note that the second-floor suites are not ADA accessible. This central valley location provides convenient access to major transportation arteries, including State Street, I-15, and I-80. Commuting is a breeze, with the property situated just ten minutes from downtown Salt Lake City and fifteen minutes from Salt Lake International Airport. This presents a unique opportunity to secure high-quality office space in a highly desirable and easily accessible location. Inquire today to learn more about leasing options and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $555,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,018,000
      Market price range: $1.02M - $3.17M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    South Salt Lake
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.892
    Latitude
    40.7087
    CBSA code
    41620
    CBSA name
    SALT LAKE CITY, UT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $17,647
    $450,100
    $1,127,800
    $1,577,900
    -
    $450,100
    $1,127,800
    $1,577,900

    Comparable in this City

    • Value Estimation
      $7,000,000
      63,645 SF

      3635 Temple

      STORE/OFFICE (MIXED USE) • 63,645 SF
      3635 Temple, Salt Lake City, UT 84115
      View Details
    • Value Estimation
      $1,020,000
      8,440 SF

      237 2100th S

      STORE/OFFICE (MIXED USE) • 8,440 SF
      237 2100th S, Salt Lake City, UT 84115-1830
      View Details
    • Value Estimation by Request
      12,600 SF

      70 2700th S

      STORE/OFFICE (MIXED USE) • 12,600 SF
      70 2700th S, South Salt Lake, UT 84115-3132
      View Details
    • Value Estimation
      $28,065,000
      260,633 SF

      3848 Temple

      STORE/OFFICE (MIXED USE) • 260,633 SF
      3848 Temple, South Salt Lake, UT 84115-4400
      View Details
    • Value Estimation
      $3,250,000
      17,743 SF

      2567 Main St

      STORE/OFFICE (MIXED USE) • 17,743 SF
      2567 Main St, South Salt Lake, UT 84115-3044
      View Details
    • Value Estimation
      $3,475,000
      27,300 SF

      210 Harris Ave

      STORE/OFFICE (MIXED USE) • 27,300 SF
      210 Harris Ave, Salt Lake City, UT 84115-5378
      View Details

    Similar Nearby for Sale

    • $628,000
      3,232 SF

      Freestanding Building on Main Street

      Freestanding building in growing downtown Salt Lake City periphery.
      1597 S Main St, Salt Lake City, UT 84115
      View Details
    • New
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      0.14 Acres

      Mixed-Use Property with Studio Space

      Single-family home with commercial zoning and studio space.
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    • $1,700,000
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      Prime South Salt Lake Mixed-Use

      5,400 SF Flex Space, Investment Opportunity
      510 Billinis Rd, South Salt Lake, UT 84115
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    • $128,000
      0.06 Acres

      Commercial Land in South Salt Lake

      Commercial land available in South Salt Lake, Utah.
      18 W 3350 S, South Salt Lake, UT 84115
      View Details
    • $1,400,000
      0.20 Acres

      Industrial Building with Drapery Business

      Industrial building with established drapery business for sale.
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    • $2,745,000
      0.34 Acres

      Salt Lake City Commercial Opportunity

      Two-building commercial property with flex space, office, and retail.
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    Similar Nearby for Lease

    • $23 SF/Yr
      60,000 SF

      I-80 Corporate Center Suites Available

      Executive Office Space in Salt Lake City
      240 Morris Ave, Salt Lake City, UT 84115
      View Details
    • Contact for pricing
      12,000 SF

      I-15 Marketplace: Retail Opportunity

      Salt Lake City Shopping Center Space Available
      389 1830, Salt Lake City, UT 84115
      View Details
    • Contact for pricing
      5,756 SF

      Updated South Salt Lake Property

      Contemporary space suitable for office, retail, restaurant, or warehouse.
      1816 South State St, Salt Lake City, UT 84115
      View Details
    • Contact for pricing
      1,360 SF

      Prime Retail or Office Space

      1,360 SF retail/office space in a busy location.
      249-293 E 3300 S, Salt Lake City, UT 84115
      View Details
    • Contact for pricing
      924 SF

      Retail Space Near I-15

      924 SF retail space with high visibility and accessibility.
      1868 S 300 W, Salt Lake City, UT 84115
      View Details
    • Contact for pricing
      6,965 SF

      Automotive Shop Space Available

      Automotive shop with service garage, storage warehouse, and office space.
      3445 West Temple S, Salt Lake City, UT 84115
      View Details
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    South Salt Lake, UT 84115
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    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
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