Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    154 Myrtle Ave Murray, UT 84107

    • Investment properties
    • 1,124 SF
    • 0.01 lot acres
    For Lease
    View listing
    $19 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0904837
    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

    • Intermountain Homecare Equipment - Murray / Hospital Department
    • McGowan Mark S DDS / Dentist
    • Dr. David J. McGowan, DDS / Dentist / Dental Clinic
    • Utah Derm & Med Procedures Clinic / Medical Clinic
    • Genoa Healthcare / Pharmacy

    Property Details for 154 Myrtle Ave

    Year built
    2007
    Lot size
    0.01 lot acres
    Property size
    1,124 SF
    Zone code
    CDC
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    22-07-160-016
    APU
    2207160016

    Description

    This exceptional 33,744 square foot Class B medical office building, constructed in 2007, presents a fantastic leasing opportunity in Murray, Utah's Central Valley East submarket. Located at 154 E Myrtle Ave, 84107, this single-story building sits on a generous 1.73-acre lot and offers ample parking with a 5 spaces per 1,000 square feet ratio. Currently, there is 2,974 square feet of readily available space for lease, perfect for a variety of medical practices. The building features a multi-tenant configuration, providing a collaborative and thriving environment. Its convenient location in Salt Lake County ensures easy access for patients and staff. The property's 2007 construction ensures modern amenities and efficient layouts. This is an ideal opportunity for a medical practice seeking a well-maintained, spacious, and strategically located office space in a bustling area. The available space offers significant potential for growth and expansion within a thriving medical community. Don't miss this chance to secure your practice's future in this 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

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

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.887
    Latitude
    40.6609
    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
    $3,018
    $105,800
    $246,800
    $352,600
    -
    $105,800
    $246,800
    $352,600

    Comparable in this City

    • Value Estimation
      $1,740,000
      36,767 SF

      348 Winchester St

      STORE/OFFICE (MIXED USE) • 36,767 SF
      348 Winchester St, Murray, UT 84107-8516
      View Details
    • Value Estimation
      $1,120,000
      21,435 SF

      428 Winchester St, Unit 204

      STORE/OFFICE (MIXED USE) • 21,435 SF
      428 Winchester St, Salt Lake City, UT 84107-7500
      View Details
    • Value Estimation
      $10,085,000
      89,800 SF

      5101 Commerce Dr

      STORE/OFFICE (MIXED USE) • 89,800 SF
      5101 Commerce Dr, Salt Lake City, UT 84107-4709
      View Details
    • Value Estimation
      $885,000
      17,418 SF

      4030 State St

      STORE/OFFICE (MIXED USE) • 17,418 SF
      4030 State St, Salt Lake City, UT 84107-1511
      View Details
    • Value Estimation
      $2,115,000
      49,386 SF

      6056 Fashion Sq Dr

      STORE/OFFICE (MIXED USE) • 49,386 SF
      6056 Fashion Sq Dr, Salt Lake City, UT 84107-7355
      View Details
    • Value Estimation
      $14,210,000
      137,483 SF

      4001 700th E

      STORE/OFFICE (MIXED USE) • 137,483 SF
      4001 700th E, Salt Lake City, UT 84107-2177
      View Details

    Similar Nearby for Sale

    • $799,000
      4,643 SF

      Salt Lake City Office Condo Investment

      High-yield office condo with strong tenant.
      746 E Winchester St, Suite 210, Murray, UT 84107
      View Details
    • $2,590,000
      1.67 Acres

      Prime Murray Retail Investment

      High-exposure, long-term ground lease.
      6161 State St, Murray, UT 84107
      View Details
    • $1,350,000

      Industrial Land with Income Potential

      0.61 acres with income-producing homes, zoned for industrial outdoor storage.
      4586 S 200 W, Murray, UT 84107
      View Details
    • $4,791,600

      Land Positioned for Development

      Land suitable for mixed-use development in a growing area.
      700 E 3900 S, Salt Lake City, UT 84107
      View Details
    • $349,900
      0.23 Acres

      Residential Land in Murray, Utah

      Level flag lot in quiet East Murray neighborhood.
      4913 S Naylor Ln, Murray, UT 84107
      View Details
    • $449,000
      4,476 SF

      Murray Office Space For Sale

      4,476 SF office space in Murray with high traffic.
      284 E 4500 S, Salt Lake City, UT 84107
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      10,000 SF

      Prime Murray Flex Space Available

      10,000 SF Flex Space - Ideal Location
      135 6100, Murray, UT 84107
      View Details
    • $23 SF/Yr
      54,441 SF

      Commerce Park III Office Space

      Murray, UT Office Suites Available
      488 Winchester St, Murray, UT 84107
      View Details
    • Contact for pricing
      222,500 SF

      New Industrial Warehouse Space

      Modern warehouse with ample power, dock doors, and ESFR.
      264 S 5750 W, Salt Lake City, UT 84107
      View Details
    • $31 SF/Yr
      10,705 SF

      Remodeled Retail/Office Space Available

      Recently remodeled retail or office space in downtown Murray.
      4901 S State St, Murray, UT 84107
      View Details
    • Contact for pricing
      3,500 SF

      Retail Space with Drive-Thru Potential

      3,500 SF retail space near I-15 and IHC Hospital.
      5283 S State St, Salt Lake City, UT 84107
      View Details
    • $29 SF/Yr

      Office Space For Lease

      Office space available for lease in Murray, Utah.
      5101 S Commerce Dr, Salt Lake City, UT 84107
      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.
    154 Myrtle Ave
    Murray, UT 84107
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.