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

    120 Redwood Rd North Salt Lake, UT 84054

    • Office buildings
    • 14,050 SF
    • 2.85 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Last Sale
    Jun 17, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0892680
    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

    • Murata Machinery USA Inc / Industrial Manufacturer / Production Facility
    • Legers Deli / Restaurant
    • My Medic / Medical Supply Store
    • Threesixty Security Solutions / Security Service

    Property Details for 120 Redwood Rd

    Year built
    2017
    Lot size
    2.85 lot acres
    Property size
    14,050 SF
    Zone code
    MD
    Property type
    Office buildings
    APN
    01-475-0001
    APU
    14750001

    Description

    Legacy Parkview, located at 120 N Redwood Rd, North Salt Lake, UT 84054, offers exceptional flex space opportunities. This industrial property boasts a total of 13,794 square feet, divided into two suites. Suite 3 offers 3,087 square feet, while Suite 4 provides 7,693 square feet. The property features a desirable 12-foot clear ceiling height, enhancing versatility and storage capacity. Four drive-in doors (8' wide x 10' high) ensure convenient loading and unloading. The building is equipped with 3-phase power and a wet fire suppression system, prioritizing safety and operational efficiency. Each suite includes attractive window lines and kitchenettes, adding to the overall functionality and appeal. The property also benefits from one acre of improved car parking, providing ample space for employees and visitors. Its prime location on Redwood Road offers excellent visibility and accessibility, with convenient access to the freeway system (1-215) less than a mile away. Flexible layout options allow for customization to meet diverse business needs. The minimum divisible space is 3,087 square feet, while the maximum contiguous space available is 10,780 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,035,000
      6.5%
      $2,805,000
      7%
      $2,605,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,143,000
      Market price range: $611k - $2.97M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,860,000
      Current use
      RETAIL STORES
      $4,110,000
      Change: +121% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $3,045,000
      Change: +64% Conversion: Easy
      MEDICAL BUILDING
      $2,290,000
      Change: +23% Conversion: Easy
      RESTAURANT
      $1,710,000
      Change: -8% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    North Salt Lake
    County
    Davis
    State
    Utah
    Longitude
    -111.93
    Latitude
    40.8444
    CBSA code
    36260
    CBSA name
    OGDEN-CLEARFIELD, 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
    $33,840
    $498,326
    $1,363,238
    $1,861,564
    -
    $906,048
    $2,478,615
    $3,384,663

    Comparable in this City

    • Value Estimation
      $6,355,000
      30,937 SF

      333 Ctr St

      OFFICE BUILDING • 30,937 SF
      333 Ctr St, North Salt Lake, UT 84054-2805
      View Details
    • Value Estimation
      $1,980,000
      16,716 SF

      1130 Ctr St

      OFFICE BUILDING • 16,716 SF
      1130 Ctr St, North Salt Lake, UT 84054-2917
      View Details
    • Value Estimation by Request
      2,431 SF

      490 1000th N

      OFFICE BUILDING • 2,431 SF
      490 1000th N, North Salt Lake, UT 84054-1926
      View Details
    • Value Estimation
      $805,000
      4,194 SF

      230 Ctr St

      OFFICE BUILDING • 4,194 SF
      230 Ctr St, North Salt Lake, UT 84054-2804
      View Details
    • Value Estimation
      $775,000
      18,468 SF

      903 Ctr St

      OFFICE BUILDING • 18,468 SF
      903 Ctr St, North Salt Lake, UT 84054-2900
      View Details
    • Value Estimation by Request
      1,425 SF

      45 Ctr St, Unit 2

      OFFICE BUILDING • 1,425 SF
      45 Ctr St, North Salt Lake, UT 84054-2501
      View Details

    Similar Nearby for Sale

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      7,200 SF office building with ample parking and freeway access.
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    • $625,000
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      North Salt Lake View Lot

      Premium lot with breathtaking views in North Salt Lake.
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      North Salt Lake Commercial Property

      Commercial property in North Salt Lake, Utah, for sale.
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    • Contact for pricing
      37,000 SF

      1096 N Redwood Rd, North Salt Lake, UT

      Industrial properties • 37,000 SF
      1096 N Redwood Rd, North Salt Lake, UT 84054
      View Details

    Similar Nearby for Lease

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      North Salt Lake Commercial Opportunity

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      View Details
    • Contact for pricing
      2,700 SF

      North Salt Lake Flex Space

      2,700 SF flex space with office and warehouse.
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      View Details
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      Modern Office Space Available

      Office space for lease with modern finishes near airport.
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      View Details
    • $18 SF/Yr
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      Office Space Near Airport

      Office space for lease near SLC International Airport.
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    • Contact for pricing
      4,540 SF

      Retail Space with Drive-Thru Potential

      Retail property available for ground lease or build-to-suit.
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      View Details
    • Contact for pricing

      Commercial Land for Lease

      1-2 acre commercial land in high-growth area for lease.
      465 N Redwood Rd, North Salt Lake, UT 84054
      View Details
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    120 Redwood Rd
    North Salt Lake, UT 84054
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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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