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    1014 Draper Pkwy Draper, UT 84020-9093
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    Property profile & analytics

    1014 Draper Pkwy, Draper, UT 84020-9093

    View on Map
    • Warehouses
    • 25,200 SF
    • 1.49 lot acres
    Off-Market
    Last Sale May 3, 2022
    Property ID
    US86-0563393
    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.
    Value Estimations
    $1,115,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Berry Creek Home Collections / Department Store

    Property Details for 1014 Draper Pkwy

    Year built
    1968
    Construction
    STEEL FRAME
    Lot size
    1.49 lot acres
    Zone code
    CN
    Property type
    Warehouses
    APN
    28-29-402-037
    APU
    2829402037

    Description

    This exceptional Draper, UT industrial property, located at 1014 E Draper Pkwy, offers 25,200 square feet of versatile space, ideal for manufacturing, warehousing, flex, or R&D uses. The property features a minimum divisible space of 6,790 square feet and a maximum contiguous space of 19,410 square feet, catering to a range of business needs. Built in 1968, the building boasts impressive 29-foot ceilings and ample 3-phase, 480V power, making it suitable for various industrial applications. The property includes 26 parking spaces and three convenient drive-in bays. Situated on 1.49 acres of land, the property benefits from a 12300 S frontage. While zoned as Draper Towne Center, a grandfathered use exception permits limited manufacturing and wholesale/warehousing activities. The property currently includes some existing lab and office space, along with an unfinished but load-bearing mezzanine offering potential for additional storage. A fenced yard is available upon request. This Class C property presents a unique opportunity in a prime Draper location. The property is multi-tenant.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,190,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,040,000
      Market price range: $693k - $3.00M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,855,000
      Current use
      RETAIL STORES
      $1,820,000
      Change: -2% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,775,000
      Change: -4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Draper
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.862
    Latitude
    40.5265
    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
    2024
    $31,934
    $1,622,600
    $1,732,500
    $3,355,100
    -
    $1,622,600
    $1,732,500
    $3,355,100

    Comparable in this City

    • Value Estimation by Request
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      271 12800, Draper, UT 84020
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    • Value Estimation by Request
      90,456 SF

      313 12800

      Distribution properties
      313 12800, Draper, UT 84020
      View Details
    • Value Estimation
      $880,000
      16,061 SF

      12608 125th W

      MINI-WAREHOUSE, STORAGE
      12608 125th W, Draper, UT 84020-8431
      View Details
    • Value Estimation by Request
      14,910 SF

      12636 125th W

      MINI-WAREHOUSE, STORAGE
      12636 125th W, Draper, UT 84020-5410
      View Details
    • Value Estimation
      $645,000
      10,976 SF

      57 12675th S

      WAREHOUSE, STORAGE
      57 12675th S, Draper, UT 84020-9242
      View Details
    • Value Estimation
      $565,000
      20,780 SF

      90 13775th S

      WAREHOUSE, STORAGE
      90 13775th S, Draper, UT 84020-8684
      View Details

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      Land for sale in a neighborhood with luxury homes.
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      Draper Land with Panoramic Views

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    Similar Nearby for Lease

    • Contact for pricing
      3,745 SF

      Draper Office/Warehouse Space Available

      Office/warehouse space with premium exposure and convenient highway access.
      12382 Gateway Park Pl, Draper, UT 84020
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      Draper Flex Space Available

      25,742 SF flex space with warehouse and office areas.
      12577 S 265 W, Draper, UT 84020
      View Details
    • Contact for pricing
      20,869 SF

      Draper Warehouse Space Available

      Modern warehouse with truck court and clerestory windows.
      271 W 12800 S, Draper, UT 84020
      View Details
    • Contact for pricing
      13,186 SF

      Draper Flex Space Available

      Flex space with office and warehouse potential near I-15.
      12351 Gateway Park Pl, Draper, UT 84020
      View Details
    • Contact for pricing
      8,096 SF

      Draper Flex Space Available

      Flex space with office and warehouse potential in Draper.
      421 West South St South, Draper, UT 84020
      View Details
    • Contact for pricing
      12,951 SF

      Draper Warehouse and Office Space

      12,951 SF flex space with loading docks.
      12577 S 265 W, Draper, UT 84020
      View Details
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    Draper, UT 84020-9093
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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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