Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1485 Major St Salt Lake City, UT 84115-5332
    Back to Search
    Property profile & analytics

    1485 Major St, Salt Lake City, UT 84115-5332

    View on Map
    • Warehouses
    • 12,996 SF
    • 0.35 lot acres
    Off-Market
    Last Sale Aug 29, 2024
    Property ID
    US86-0297969
    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.
    Value Estimations
    $530,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Signature Motor Works, LLC / Auto Repair Shop
    • Salt City Motorworks LLC / Automobile Storage Facility / Vehicle Exporter

    Property Details for 1485 Major St

    Year built
    1922
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.35 lot acres
    Zone code
    CC
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    16-18-105-009
    APU
    1618105009

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 29, 2024 — Solid Tech INC 1485 Major Street LLC Warranty Deed $819k · Intermountain Business Lending INC
    Feb 1, 2021 — 1485 Major Street LLC Ak Dev LLC Special Warranty Deed $1.1M · Cyprus FCU
    Oct 11, 2019 — Ak Dev LLC Nevada Matco Grant Deed $625k · Matco Nevada
    Apr 16, 1998 — Nevada Matco Bbdm Partnership Grant Deed $230k · Seller

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $505,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $558,000
      Market price range: $559k - $1.02M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $755,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Salt Lake City
    County
    Salt Lake
    State
    Utah
    Longitude
    -111.889
    Latitude
    40.7371
    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
    2024
    $4,344
    $269,900
    $1,075,500
    $1,345,400
    -
    $269,900
    $1,075,500
    $1,345,400

    Comparable in this City

    • Value Estimation
      $995,000
      16,238 SF

      3038 Specialty Cir

      MINI-WAREHOUSE, STORAGE
      3038 Specialty Cir, Salt Lake City, UT 84115-3479
      View Details
    • Value Estimation
      $2,655,000
      93,176 SF

      2300 Main St

      MINI-WAREHOUSE, STORAGE
      2300 Main St, South Salt Lake, UT 84115-2734
      View Details
    • Value Estimation
      $660,000
      11,520 SF

      3208 State St

      MINI-WAREHOUSE, STORAGE
      3208 State St, South Salt Lake, UT 84115-3825
      View Details
    • Value Estimation by Request
      4,360 SF

      3041 Main St

      MINI-WAREHOUSE, STORAGE
      3041 Main St, South Salt Lake, UT 84115-3745
      View Details
    • Value Estimation by Request
      4,800 SF

      3817 State St

      MINI-WAREHOUSE, STORAGE
      3817 State St, South Salt Lake, UT 84115-4814
      View Details
    • Value Estimation by Request
      7,700 SF

      3727 State St

      MINI-WAREHOUSE, STORAGE
      3727 State St, South Salt Lake, UT 84115-4812
      View Details

    Similar Nearby for Sale

    • $2,745,000
      0.34 Acres

      Salt Lake City Commercial Opportunity

      Two-building commercial property with flex space, office, and retail.
      346 E 3300 S, Salt Lake City, UT 84115
      View Details
    • $724,500

      Industrial Property with Fenced Yard

      2,077 SF industrial property with fenced yard for sale.
      350 West South Brg South, Salt Lake City, UT 84115
      View Details
    • $50,000
      0.05 Acres

      Established Car Business For Sale

      Established car business for sale in a desirable location.
      576 W Billinis Rd S, South Salt Lake, UT 84115
      View Details
    • Contact for pricing
      6,574 SF

      Main Street Retail/Warehouse/Office Building

      Versatile building with retail, warehouse, and office space.
      2685 S Main St, Salt Lake City, UT 84115
      View Details
    • Contact for pricing
      2,077 SF

      Warehouse Building with Fenced Yard

      Warehouse building with fenced yard, suitable for various uses.
      360 W 1600 S, Salt Lake City, UT 84115
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      16,466 SF

      South Salt Lake Warehouse Space

      Warehouse space with freeway access, fenced yard, and updated office.
      2530 W Temple St, Salt Lake City, UT 84115
      View Details
    • $3,250 /Mo

      South Salt Lake Flex Warehouse

      2,100 SF flex/warehouse with fenced yard for lease.
      196 W Malvern Ave, South Salt Lake, UT 84115
      View Details
    • $1.00 SF/Yr

      South Salt Lake Warehouse Space

      Warehouse with office space and easy freeway access.
      2530 West Temple South, South Salt Lake, UT 84115
      View Details
    • Contact for pricing
      2,100 SF

      Freestanding Warehouse with Secure Yard

      Freestanding warehouse with fenced yard in South Salt Lake.
      196 W Malvern Ave, Salt Lake City, UT 84115
      View Details
    • Contact for pricing
      10,000 SF

      10,000 SF Flex Space Available

      10,000 SF flex space with open floor plan.
      2354 S State St, Salt Lake City, UT 84115
      View Details
    • Contact for pricing
      4,200 SF

      Secured Warehouse Space Available

      Gated warehouse space with swamp cooler and wash sink.
      2451 S 600 W, Salt Lake City, UT 84115
      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.
    1485 Major St
    Salt Lake City, UT 84115-5332
    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

    Thank You for Inquiry
    1485 Major St, Salt Lake City, UT, 84115
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!