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

    120 1950th W Salt Lake City, UT 84116-3276

    • Apartment buildings
    • 14,886 SF
    • 0.86 lot acres
    OFF-MARKET
    Last Sale
    Jan 05, 2021
    Value Estimations
    $1,115,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-1022561
    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

    • North Metro Townhomes / Apartment Complex

    Property Details for 120 1950th W

    Year built
    2018
    Lot size
    0.86 lot acres
    Property size
    14,886 SF
    Zone code
    CC
    Property type
    Apartment buildings
    APN
    08-34-352-020
    APU
    834352020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,110,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,115,000
      Market price range: $184k - $1.12M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,530,000
      COMMERCIAL (GENERAL)
      $1,270,000
      AUTO REPAIR, GARAGE
      $1,080,000
      NEIGHBORHOOD: SHOPPING CENTER
      $715,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.946
    Latitude
    40.772
    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
    $48,817
    $2,280,400
    $6,697,700
    $8,978,100
    -
    $2,280,400
    $6,697,700
    $8,978,100

    Comparable in this City

    • Value Estimation
      $1,810,000
      110,971 SF

      355 500th W

      APARTMENT HOUSE (5+ UNITS) • 110,971 SF
      355 500th W, Salt Lake City, UT 84116-3702
      View Details
    • Value Estimation
      $1,610,000
      26,956 SF

      837 Wn Temple

      APARTMENT HOUSE (100+ UNITS) • 26,956 SF
      837 Wn Temple, Salt Lake City, UT 84116-3347
      View Details
    • Value Estimation
      $3,055,000
      134,935 SF

      233 Redwood Rd

      APARTMENT HOUSE (5+ UNITS) • 134,935 SF
      233 Redwood Rd, Salt Lake City, UT 84116-3160
      View Details
    • Value Estimation by Request
      0.16 Acres

      937 Colorado St

      APARTMENT HOUSE (5+ UNITS) • 0.16 Acres
      937 Colorado St, Salt Lake City, UT 84116-3807
      View Details
    • Value Estimation by Request
      2,256 SF

      737 Jackson Ave

      APARTMENT HOUSE (5+ UNITS) • 2,256 SF
      737 Jackson Ave, Salt Lake City, UT 84116-3344
      View Details
    • Value Estimation
      $3,020,000
      121,427 SF

      175 Harold St

      APARTMENT HOUSE (5+ UNITS) • 121,427 SF
      175 Harold St, Salt Lake City, UT 84116-3197
      View Details

    Similar Nearby for Sale

    • $3,500,000
      104,399 SF

      The Chicago: 137-Unit Apartment Complex

      Prime Salt Lake City Redevelopment Opportunity
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    • $11,877,000
      7.18 Acres

      Millcreek Apartments Land

      7.18 Acres, 423-Unit Potential
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    • $3,200,000
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      Airport-Adjacent Development Land

      Prime 1.92-acre lot, hotel project approved.
      280 Apollo Rd, Salt Lake City, UT 84116
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    • $1,600,000
      10,354 SF

      Downtown Development Land Near Trax

      Development land near Trax station with easy freeway access.
      N Temple 540 W, Salt Lake City, UT 84116
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    • Contact for pricing
      10,354 SF

      Downtown Development Land Near Trax

      Development land with structures of little value, near Trax.
      540 North Temple W, Salt Lake City, UT 84116
      View Details
    • $7,100,000
      40,500 SF

      High-Quality Office Building Near Airport

      Prominent office building near I-215 and Salt Lake City Airport.
      208 N 2100 W, Salt Lake City, UT 84116
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      73,578 SF

      Stone Water Park Office Space

      Salt Lake City Office Building, Multiple Suites Available
      215 Admiral Byrd Rd, Salt Lake City, UT 84116
      View Details
    • Contact for pricing
      833,280 SF

      Mountain View Industrial Warehouse

      833,280 SF Warehouse, Salt Lake City
      6020 300, Salt Lake City, UT 84116
      View Details
    • Contact for pricing
      874,657 SF

      Salt Lake City Industrial Space

      Modern Manufacturing/Distribution Facility
      821 6550, Salt Lake City, UT 84116
      View Details
    • Contact for pricing
      474,600 SF

      Hamilton Logistics Center: Salt Lake City

      Modern Cross-Dock Warehouse - 474,600 SF
      8080 1400, Salt Lake City, UT 84116
      View Details
    • $15 SF/Yr
      47,555 SF

      Furnished Office Space Near Airport

      Two-story, fully furnished office building with easy airport access.
      5245 W Yeager Rd, Salt Lake City, UT 84116
      View Details
    • Contact for pricing
      13,118 SF

      Salt Lake City Warehouse Space

      Industrial warehouse with fenced yard and multiple ground-level doors.
      758 W 1500 N, Salt Lake City, UT 84116
      View Details
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    120 1950th W
    Salt Lake City, UT 84116-3276
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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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