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

    1280 Stringham Ave Salt Lake City, UT 84106-2490

    • Medical offices
    • 363,568 SF
    • 1.61 lot acres
    OFF-MARKET
    Last Sale
    Jan 31, 2020
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-1097182
    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

    • Sugar House Health Center: Ferguson Richard A MD / Family Practice Physician
    • Sugar House Health Center: Malechek Lindsay MD / Doctor
    • Sugar House Health Center: Joy Elizabeth A MD / Doctor
    • U of U Health Sugar House Pharmacy / Pharmacy
    • Pippitt Karly Ann MD FAAFP / Family Practice Physician

    Property Details for 1280 Stringham Ave

    Year built
    2018
    Lot size
    1.61 lot acres
    Property size
    363,568 SF
    Zone code
    CSHBD1
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    16-20-276-067
    APU
    1620276067

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $85,665,000
      6.5%
      $79,075,000
      7%
      $73,425,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $62,335,000
      Market price range: $18.9M - $73.3M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $47,970,000
      Current use
      RESTAURANT
      $46,595,000
      Change: -3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.855
    Latitude
    40.7206
    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
    2022
    $0.00
    $2,279,300
    $91,054,000
    $93,333,300
    -
    $2,279,300
    $91,054,000
    $93,333,300

    Comparable in this City

    • Value Estimation
      $905,000
      23,217 SF

      1027 3300th S

      MEDICAL BUILDING • 23,217 SF
      1027 3300th S, Salt Lake City, UT 84106-2142
      View Details
    • Value Estimation by Request
      2,340 SF

      1963 2700th S

      MEDICAL BUILDING • 2,340 SF
      1963 2700th S, Salt Lake City, UT 84106-4085
      View Details
    • Value Estimation
      $1,080,000
      8,816 SF

      2178 900th E

      MEDICAL BUILDING • 8,816 SF
      2178 900th E, Salt Lake City, UT 84106-2388
      View Details
    • Value Estimation
      $550,000
      6,762 SF

      3001 Richmond St

      MEDICAL BUILDING • 6,762 SF
      3001 Richmond St, Salt Lake City, UT 84106-3005
      View Details
    • Value Estimation
      $535,000
      7,845 SF

      1208 3300th S

      MEDICAL BUILDING • 7,845 SF
      1208 3300th S, Salt Lake City, UT 84106-2522
      View Details
    • Value Estimation by Request
      1,472 SF

      2319 Highland Dr

      MEDICAL BUILDING • 1,472 SF
      2319 Highland Dr, Salt Lake City, UT 84106-2810
      View Details

    Similar Nearby for Sale

    • $1,900,000
      5,737 SF

      Highland Drive Retail/Office Opportunity

      Prime location with high-end improvements and warehouse space.
      2927 S Highland Dr, Salt Lake City, UT 84106
      View Details
    • $615,000
      1,668 SF

      Turnkey Duplex in Salt Lake

      Well-maintained duplex with modern finishes and strong rental history.
      3346 S 700 E, Salt Lake City, UT 84106
      View Details
    • $7,800,000

      Salt Lake City Retail Investment

      Fully occupied Salt Lake City shopping center for sale.
      631-635 E 3300 S, Salt Lake City, UT 84106
      View Details
    • $4,791,600
      4 SF

      South Salt Lake Development Site

      4.40-acre mixed-use apartment development site in South Salt Lake.
      700 East Pl South, Salt Lake City, UT 84106
      View Details
    • $2,426,000
      3,025 SF

      Salt Lake City 7-Eleven

      Corporate guaranteed 7-Eleven with over 12 years remaining.
      3311 S 700 E, Salt Lake City, UT 84106
      View Details
    • Contact for pricing
      6,610 SF

      Turn-Key Restaurant Opportunity

      Prime Millcreek location with historic charm and versatile layout.
      3298 S Highland Dr, Salt Lake City, UT 84106
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      75,770 SF

      Brickyard Tower Office Space

      Salt Lake City office building, multiple suites available.
      1245 Brickyard Rd, Salt Lake City, UT 84106
      View Details
    • $16 SF/Yr
      9,304 SF

      Freestanding Millcreek Office/Medical Building

      Freestanding office/medical building in the heart of Millcreek.
      3350 S Highland Dr, Salt Lake City, UT 84106
      View Details
    • $30 SF/Yr
      7,076 SF

      Prime Millcreek Medical Office Space

      7,076 SF Medical Office Building Available
      3179 Highland Dr, Millcreek, UT 84106
      View Details
    • $38 SF/Yr
      7,514 SF

      Salt Lake City Office Space Available

      7,514 sq ft Traditional Office Space
      1215 Wilmington Ave, Salt Lake City, UT 84106
      View Details
    • Contact for pricing
      69,339 SF

      Plaza 7-21: Salt Lake City Office

      Class A Office Space, Two Suites Available
      675 2100, Salt Lake City, UT 84106
      View Details
    • $27 SF/Yr
      15,284 SF

      Regus Sugarhouse Center Office Suites

      Salt Lake City Executive Office Space
      2150 1300, Salt Lake City, UT 84106
      View Details

    Property Visit Statistics

    • Visits by month
      31.0k
    • Visitors by month
      29.1k
    • Avg Time on site
      59 min
    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.
    1280 Stringham Ave
    Salt Lake City, UT 84106-2490
    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.