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

    1238 Commerce Dr Saratoga Springs, UT 84045-4713

    • Medical offices
    • 10,733 SF
    • 1.34 lot acres
    OFF-MARKET
    Last Sale
    Dec 21, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0482708
    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

    • Medical offices

    Property Details for 1238 Commerce Dr

    Year built
    2010
    Lot size
    1.34 lot acres
    Property size
    10,733 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    66-271-0002
    APU
    662710002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Saratoga Springs
    County
    Utah
    State
    Utah
    Longitude
    -111.915
    Latitude
    40.3844
    CBSA code
    39340
    CBSA name
    PROVO-OREM, 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
    $23,818
    $0.00
    $0.00
    $3,076,500
    -
    $1,033,800
    $2,042,700
    $3,076,500

    Comparable in this City

    • Value Estimation by Request
      2,044 SF

      1528 Commerce Dr Ste, Unit 204

      MEDICAL BUILDING • 2,044 SF
      1528 Commerce Dr Ste, Saratoga Springs, UT 84045-4031
      View Details
    • Value Estimation by Request
      2,684 SF

      1228 Commerce Dr

      MEDICAL BUILDING • 2,684 SF
      1228 Commerce Dr, Saratoga Springs, UT 84045-4713
      View Details
    • Value Estimation by Request
      20,990 SF

      354 Xrds Blvd

      MEDICAL BUILDING • 20,990 SF
      354 Xrds Blvd, Saratoga Springs, UT 84045-5506
      View Details
    • Value Estimation by Request
      4,415 SF

      118 Thrive Dr Ste, Unit 210

      MEDICAL BUILDING • 4,415 SF
      118 Thrive Dr Ste, Saratoga Springs, UT 84045-5554
      View Details
    • Value Estimation by Request
      12,095 SF

      118 Thrive Dr Ste, Unit 100

      MEDICAL BUILDING • 12,095 SF
      118 Thrive Dr Ste, Saratoga Springs, UT 84045-5551
      View Details
    • Value Estimation by Request
      6,323 SF

      118 Thrive Dr Ste, Unit 200

      MEDICAL BUILDING • 6,323 SF
      118 Thrive Dr Ste, Saratoga Springs, UT 84045-5552
      View Details

    Similar Nearby for Sale

    • $1,090,000
      2,127 SF

      Saratoga Springs Office Space

      Office space available for purchase in Saratoga Springs, Utah.
      1528 N Commerce Dr, Saratoga Springs, UT 84045
      View Details
    • $375,000
      0.37 Acres

      Residential Land with Mountain Views

      0.37 acre lot ready for dream home.
      1526 N Cozy Ln, Saratoga Springs, UT 84045
      View Details
    • $5,926,909
      8,346 SF

      New Retail Space For Sale

      New retail space for sale in Eagle Mountain, Utah.
      4315 Pony Express Pkwy, Eagle Mountain, UT 84045
      View Details
    • $347,900

      Stylish Condo in Saratoga Springs

      Contemporary condo in master-planned community near Utah Lake.
      855 N Pugh Ln, Saratoga Springs, UT 84045
      View Details
    • $36,400
      2,800 SF

      Commercial Land with Retail Pads

      Retail pads available with drive-thru opportunities in Saratoga Springs.
      298 W Weatherby Dr, Saratoga Springs, UT 84045
      View Details
    • $544,500
      0.50 Acres

      Lehi Retail Opportunity

      Finished pad site in a rapidly growing Utah market.
      1500 N 3600 W unit A2/A3, Lehi, UT 84045
      View Details

    Similar Nearby for Lease

    • $27 SF/Yr
      1,600 SF

      Retail and Office Space Available

      Grocery store development with retail, restaurant, and office spaces.
      4095 E Pony Express Pkwy, Eagle Mountain, UT 84045
      View Details
    • $36 SF/Yr
      10,830 SF

      Saratoga Springs Retail Center

      Prime Retail Space, 7 Suites Available
      166 Pioneer Xing, Saratoga Springs, UT 84045
      View Details
    • $35 SF/Yr
      32,141 SF

      Saratoga Springs Executive Office Space

      Prime Utah County Office Building - 32,141 SF
      SWC Western Hl Dr & Redwood Rd, Saratoga Springs, UT 84045
      View Details
    • $38 SF/Yr
      10,710 SF

      Redwood Square Coworking Spaces

      Modern Coworking, Saratoga Springs, Utah. Flexible space available.
      1750 Redwood Rd, Saratoga Springs, UT 84045
      View Details
    • Contact for pricing
      217,800 SF

      Saratoga Springs Commercial Leasing Spaces

      Mixed-use commercial development in Saratoga Springs, Utah, for lease.
      1750 N Redwood Rd, Saratoga Springs, UT 84045
      View Details
    • Contact for pricing
      60,000 SF

      Prime Saratoga Springs Retail Space

      60,000 SF Retail Center - Available Now
      1300 Pony Expressway Pkwy, Saratoga Springs, UT 84045
      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.
    1238 Commerce Dr
    Saratoga Springs, UT 84045-4713
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.