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    104 Main St Richfield, UT 84701-2154
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    Property profile & analytics

    104 Main St, Richfield, UT 84701-2154

    View on Map
    • Hotels
    • 0.12 lot acres
    Off-Market
    Last Sale Mar 28, 2025
    Property ID
    US86-0949287
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hotels

    Property Details for 104 Main St

    Lot size
    0.12 lot acres
    Property type
    Hotels
    Property subtype
    Motels
    APN
    1-30-5
    APU
    1305

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 28, 2025 — Vintage Vault Properties LLC Hammock Properties LLC Warranty Deed —
    Sep 19, 2022 — Hammock Properties LLC — Deed · related $150k · Elbow Ranch Investments LLC
    May 13, 2022 — Hammock Properties LLC Gary L Leavitt Warranty Deed $275k · Realtynet Richfield Property LLC
    Dec 10, 2021 — Gary L Leavitt Realtynet Richfield Property LLC Special Warranty Deed —
    Sep 10, 2021 — Realtynet Group Retirement Trust Contractors Heating & Cooling Suppl Special Warranty Deed —
    Aug 10, 2021 — Contractors Heating & Cooling Suppl Realtynet Richfield Property LLC Special Warranty Deed —
    Feb 27, 2014 — Realtynet Richfield Property LLC Zions First National Bank Special Warranty Deed —
    Aug 26, 2013 $491,025 Zions First National Bank Goodwin Garcia Properties LLC Trustees Deed · related —
    Dec 3, 2010 — Goodwin Garcia Properties LLC Alan L Curtis Warranty Deed $378k · Zions First National Bank

    Description

    This exceptional three-story, 13,770 square foot mixed-use building in Richfield, Utah's vibrant downtown (104 N Main St, 84701) presents a compelling investment opportunity. Built in 1913 and situated on a prominent 0.12-acre corner lot, the property boasts a blend of commercial, office, and residential spaces. The ground floor features a restaurant and retail space, while the second floor houses ten office units. Four residential apartments are located on the third floor. Currently 100% occupied with 16 tenants, the building generates a strong net operating income (NOI) of $110,393, representing a 9.40% capitalization rate. Recent renovations include updated electrical and plumbing systems, cosmetic enhancements, and a roof less than five years old. Additional income streams are derived from a leased rooftop to a telecommunications company and a separate rentable garage. The property is zoned for downtown use and offers high visibility and foot traffic, making it an ideal investment for both seasoned investors and those seeking a diversified portfolio. The building's historical charm combined with modern amenities creates a unique and attractive offering in the market. This stabilized investment, with its impressive NOI and cap rate, presents a rare opportunity to acquire a cornerstone property in Richfield's thriving downtown.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Richfield
    County
    Sevier
    State
    Utah
    Longitude
    -112.084
    Latitude
    38.7696

    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
    $10,180
    $83,363
    $934,655
    $1,018,018
    -
    $83,363
    $934,655
    $1,018,018

    Comparable in this City

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      0.88 Acres

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      1.00 Acre

      1170 Cv Vw Rd

      HOTEL/MOTEL
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    • Value Estimation
      $515,000
      2.15 Acres

      1100 1350th S

      HOTEL/MOTEL
      1100 1350th S, Richfield, UT 84701-7054
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    Similar Nearby for Lease

    • $0.21 SF/Yr

      Retail and Restaurant Space Available

      Retail, dining, hospitality, and medical spaces for lease.
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      Richfield Land Lease Opportunity

      Land lease or build-to-suit opportunity in Richfield, Utah.
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      Richfield Retail Space Available

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      Restaurant Space Near I-70

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    Richfield, UT 84701-2154
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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.

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