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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1016 Ft Un Blvd Midvale, UT 84047-1873

    • Grocery and convenience stores
    • 68,406 SF
    • 1.04 lot acres
    OFF-MARKET
    Last Sale
    Dec 13, 2024
    Value Estimations
    $8,295,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0622157
    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

    • Grocery and convenience stores

    Property Details for 1016 Ft Un Blvd

    Year built
    1974
    Lot size
    1.04 lot acres
    Property size
    68,406 SF
    Zone code
    RC
    Property type
    Grocery and convenience stores
    APN
    22-29-129-015-4001
    APU
    22291290154001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $7,897,000
      Market price range: $3.28M - $7.90M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $5,285,000
      Current use
      RESTAURANT
      $7,330,000
      Change: +39% Conversion: Easy
      AUTO REPAIR, GARAGE
      $7,170,000
      Change: +36% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $7,070,000
      Change: +34% Conversion: Easy
      WAREHOUSE, STORAGE
      $5,170,000
      Change: -2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Midvale
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.862
    Latitude
    40.6219
    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
    $31,812
    $753,200
    $18,685,900
    $19,439,100
    -
    $753,200
    $18,685,900
    $19,439,100

    Comparable in this City

    • Value Estimation
      $8,325,000
      68,406 SF

      980 Ft Un Blvd

      GROCERY, SUPERMARKET • 68,406 SF
      980 Ft Un Blvd, Midvale, UT 84047-1714
      View Details
    • Value Estimation by Request
      4,458 SF

      7348 Un Park Ave

      CONVENIENCE STORE • 4,458 SF
      7348 Un Park Ave, Midvale, UT 84047
      View Details
    • Value Estimation by Request
      4,501 SF

      7746 Un Park Ave

      CONVENIENCE STORE • 4,501 SF
      7746 Un Park Ave, Midvale, UT 84047-5679
      View Details
    • Value Estimation
      $1,905,000
      14,488 SF

      145 Ft Un Blvd

      GROCERY, SUPERMARKET • 14,488 SF
      145 Ft Un Blvd, Midvale, UT 84047-1533
      View Details
    • Value Estimation by Request
      1,833 SF

      8370 State St

      CONVENIENCE STORE • 1,833 SF
      8370 State St, Midvale, UT 84047-3636
      View Details
    • Value Estimation by Request
      5,076 SF

      7173 700th W

      CONVENIENCE STORE • 5,076 SF
      7173 700th W, Midvale, UT 84047-6600
      View Details

    Similar Nearby for Sale

    • $1,500,000
      0.18 Acres

      Turn-Key Business Opportunity in Midvale

      Established business for sale with building, land, license, and assets.
      7654 S Main St, Midvale, UT 84047
      View Details
    • $5,750,000
      9,050 SF

      Multi-Tenant Investment Property For Sale

      Multi-tenant investment property with national tenants in Midvale, Utah.
      7455 Union Park Ave, Midvale, UT 84047
      View Details
    • $990,000
      0.51 Acres

      Vacant Commercial Building in Midvale

      Freestanding commercial building with high visibility and redevelopment potential.
      159 W Center St, Midvale, UT 84047
      View Details
    • $1,700,000
      7,000 SF

      Midvale Main Street Gem

      Historic Theater & Offices, 7,000 SF
      7711 Main St, Midvale, UT 84047
      View Details
    • $2,500,000
      4,060 SF

      Restaurant Property in High-Traffic Area

      4,500 SF restaurant on 1.08 acres with ample parking.
      7495 S Union Park Ave, Midvale, UT 84047
      View Details
    • $1,500,000
      0.12 Acres

      Turn-Key Restaurant Business For Sale

      Established restaurant with building, land, license, and assets included.
      7660 S Main St, Midvale, UT 84047
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      4,900 SF

      Midvale Retail Space: Fort Union Blvd

      1,500 SF Retail Storefront Available
      589 Fort Union Blvd, Midvale, UT 84047
      View Details
    • $16 SF/Yr
      8,300 SF

      Main Street Retail/Office Space

      Convertible retail/office space in downtown Midvale with parking.
      7676 S Main St, Salt Lake City, UT 84047
      View Details
    • $22 SF/Yr
      1,500 SF

      Retail Space on Fort Union

      1,500 SF retail space with front and back entrances.
      579-589 E Fort Union Blvd, Midvale, UT 84047
      View Details
    • Contact for pricing
      4,250 SF

      Retail Space in Historic Area

      Retail spaces available in a historic Midvale location.
      7718 S Main St, Midvale, UT 84047
      View Details
    • Contact for pricing
      1,800 SF

      Creative Office/Retail Space Available

      Renovated creative office/retail space in central Salt Lake Metropolitan area.
      7610-7624 S Main St, Midvale, UT 84047
      View Details
    • Contact for pricing
      4,356 SF

      Midvale Industrial Flex Retail Space

      1804 SF flex/retail space in central Midvale location.
      11 W Wasatch St, 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.
    1016 Ft Un Blvd
    Midvale, UT 84047-1873
    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.