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    Property profile & analytics

    1283 Mike Weir Dr Draper, UT 84020-7629

    • Specialty properties
    • 13,220 SF
    • 8.99 lot acres
    OFF-MARKET
    Value Estimations
    $660,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US86-0473411
    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

    • Siempre Utah - Weddings / Wedding Service
    • Sunday Brunch by Siempre / Restaurant
    • Siempre Weddings / Wedding Service
    • Siempre Utah / Wedding Service

    Property Details for 1283 Mike Weir Dr

    Year built
    1998
    Construction
    WOOD FRAME
    Lot size
    8.99 lot acres
    Property size
    13,220 SF
    Zone code
    SMA
    Property type
    Specialty properties
    APN
    34-08-200-013
    APU
    3408200013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $580,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $741,000
      Market price range: $318k - $741k

    • Alternative Use

      Use
      Estimation
      CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
      $465,000
      Current use
      WAREHOUSE, STORAGE
      $975,000
      Change: +109% Conversion: Difficult
      RETAIL STORES
      $955,000
      Change: +105% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $930,000
      Change: +100% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Draper
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.854
    Latitude
    40.4904
    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
    $2,768,900
    $2,939,200
    $5,708,100
    -
    $2,768,900
    $2,939,200
    $5,708,100

    Comparable in this City

    • Value Estimation
      $5,945,000
      433,512 SF

      448 13490th S

      PROFESSIONAL CLUBS/ASSOCIATIONS • 433,512 SF
      448 13490th S, Draper, UT 84020-7217
      View Details
    • Value Estimation by Request
      13,911 SF

      2016 Vlg Grn Cir

      PROFESSIONAL CLUBS/ASSOCIATIONS • 13,911 SF
      2016 Vlg Grn Cir, Draper, UT 84020-5500
      View Details
    • Value Estimation
      $635,000
      11,600 SF

      11859 700th E

      FUNERAL HOME • 11,600 SF
      11859 700th E, Draper, UT 84020-9729
      View Details
    • Value Estimation by Request
      5,524 SF

      11995 Highland Dr

      PROFESSIONAL CLUBS/ASSOCIATIONS • 5,524 SF
      11995 Highland Dr, Draper, UT 84020-7333
      View Details
    • Value Estimation by Request
      10,208 SF

      12265 1190th E

      DAY CARE, PRE-SCHOOL • 10,208 SF
      12265 1190th E, Draper, UT 84020-9038
      View Details
    • Value Estimation by Request
      6,084 SF

      146 13200th S

      DAY CARE, PRE-SCHOOL • 6,084 SF
      146 13200th S, Draper, UT 84020-8954
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,000 SF

      Draper Office in Rockwell Square

      2,000 SF office space in mixed-use development for sale.
      248 E 13800 S, Draper, UT 84020
      View Details
    • Contact for pricing
      16,800 SF

      Draper Warehouse with Long-Term Tenant

      16,800 SF warehouse in Draper, UT with I-15 access.
      131 E 13065 S, Draper, UT 84020
      View Details
    • $447,000
      0.16 Acres

      Draper Storefront: Prime Mixed-Use

      Retail space, land, excellent location.
      923 Pioneer Rd, Draper, UT 84020
      View Details
    • $1,995,000
      0.45 Acres

      Draper Restaurant with Mountain Views

      Turnkey restaurant opportunity in Draper, Utah with mountain views.
      14886 S Traverse Rd, Draper, UT 84020
      View Details
    • $525,000
      0.90 Acres

      Draper Land with Panoramic Views

      0.90-acre lot with unobstructed views in Suncrest community.
      1349 E Elk Dr, Draper, UT 84020
      View Details
    • $350,000
      0.40 Acres

      Residential Land in Draper, Utah

      Residential land for sale in Draper, near hiking trails.
      1492 E Meadow Bluff Ln, Draper, UT 84020
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      25,200 SF

      Draper Parkway Industrial Space

      Versatile industrial space in Draper, UT
      1014 Draper Pkwy, Draper, UT 84020
      View Details
    • $24 SF/Yr
      18,598 SF

      Draper Office Building For Lease

      Modern Draper office space, move-in ready.
      11629 700, Draper, UT 84020
      View Details
    • $27 SF/Yr
      109,595 SF

      Draper Executive Office Space

      Prestigious Draper office, multiple suites available
      13937 Sprague Ln, Draper, UT 84020
      View Details
    • $1,500 /Mo
      1,200 SF

      Draper Office Space For Rent

      Approximately 1,200 SF office space available for rent.
      12637 S 265 W, Draper, UT 84020
      View Details
    • Contact for pricing
      78,408 SF

      Prime Salt Lake County Commercial Land

      1.8-acre lot, 78,408 sqft building
      642 12300, Draper, UT 84020
      View Details
    • $28 SF/Yr
      25,995 SF

      Vista Station 4: Draper Office Space

      Class A Office, 25,995 SF Available
      12936 Frontrunner Blvd, Draper, UT 84020
      View Details
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    Draper, UT 84020-7629
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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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